A transfer of $1.4 billion worth of Bitcoin (BTC) is turning heads among crypto whale watchers.
The transaction was identified by ByteTree’s Bitcoin tracking terminal and posted on Reddit, where crypto enthusiasts speculated on the nature of the transfer.
Although some Reddit users are concerned that the move implies that a whale is gearing up to rock the market by cashing out, the transfer could also be a crypto exchange moving its assets around for security purposes. The addresses of both the sending wallet and the receiving wallet are unknown at time of publishing.
Crypto traders are also tracking a number of XRP transactions. The largest is a transfer of nearly 86 million XRP worth about $20.6 million. The transfer happened between two wallets of unknown origin.
? ? 85,999,900 #XRP (20,644,789 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) March 5, 2020
A separate transaction of 22 million XRP worth $5.3 million was transferred from the crypto exchange Bithumb to an unknown wallet on Friday.
In addition, Ripple sent 41 million XRP worth $10 million to the company’s co-founder Jed McCaleb on Friday. The transfer is part of a settlement brokered between Ripple and McCaleb in 2016 that allows McCaleb to sell portions of his XRP holdings on a weekly basis.
A recent review from Whale Alert found McCaleb has sold $1.05 billion worth of XRP since 2014.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Martin Prochazkacz
