A big transaction from the San Francisco startup Ripple is turning heads among crypto traders.
The company moved 220,303,137 XRP worth about $49.2 million on Monday. The XRP was sent to the Luxembourg-based exchange Bitstamp.
? ? ? ? 220,303,137 #XRP (49,277,247 USD) transferred from Ripple OTC Distribution wallet to #Bitstamp
— Whale Alert (@whale_alert) December 11, 2019
Ripple owns more than half of the total supply of XRP and sells portions of its holdings over-the-counter to exchanges and institutional players on a routine basis.
The company says its sales of XRP decreased 74% in the third quarter of this year, from $251.5 million to $66.2 million.
Meanwhile, Bitcoin whales are surfacing in relatively small numbers as the price of BTC trades sideways.
Over the last day, some of Bitcoin’s biggest holders have moved a total of 6,200 BTC worth about $44.5 million.
Two of the transfers involved crypto moving from unknown wallets to a crypto exchange, where they could be sold on the open market. The remaining two transfers sent BTC from crypto exchanges to unknown wallets.
- 1,750 BTC (12,561,687 USD) transferred from unknown wallet to Binance
- 2,000 BTC (14,482,303 USD) transferred from OKEx to unknown wallet
- 1,750 BTC (12,672,015 USD) transferred from unknown wallet to Binance
- 700 BTC (5,069,523 USD) transferred from Binance to unknown wallet