A number of high-net-worth crypto investors known as whales are moving hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and XRP as the broader crypto market continues to show signs of weakness.
BTC appears to be dictating the bearish momentum as the largest cryptocurrency plunged as low as $9,916 in the last 24 hours according to CoinMarketCap. Ethereum followed suit, with the second-largest cryptocurrency falling to a low of $326 over the same stretch. Meanwhile, XRP dropped to a low of $0.23.
A surging number of crypto whales are coming out of hibernation amid the bearish price action. One whale, in particular, moved 3,001 BTC worth $30.4 million from crypto exchange OKEx to an unknown wallet.
? ? ? 3,001 #BTC (30,399,383 USD) transferred from #OKEx to unknown wallet
— Whale Alert (@whale_alert) September 7, 2020
Tx: https://t.co/UJyrqZTMZX
Here’s a look at the rest of the Bitcoin whale transactions reported in the last day. In total, the high-rolling Bitcoin holders moved 9,975 BTC to the tune of $100.6 million.
- 1,174 BTC worth $11.9 million moved from Binance to Xapo
- 1,000 BTC worth $10.2 million moved from Bitstamp to unknown wallet
- 1,800 BTC worth $18.3 million moved from Xapo to unknown wallet
- 2,000 BTC worth $19.9 million moved from Bitstamp to Xapo
- 1,000 BTC worth $9.9 million moved from Bitstamp to Xapo
Meanwhile, one anonymous whale transferred a massive sum of Ethereum in a single transaction.
? ? ? ? ? ? ? 216,016 #ETH (76,083,859 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) September 6, 2020
Tx: https://t.co/4eSvZFlIaK
Looking at XRP, one high-stakes whale just moved a huge amount of XRP. The multi-million transfer was sent to a mysterious wallet that may have received funds previously owned by Ripple, according to big data analyst Thomas Silkjær.
32,000,000 #XRP (7,661,728 USD) transferred from unknown wallet to Cobra1104 wallet
— Whale Alert (@whale_alert) September 7, 2020
Tx: https://t.co/1u5LCJLwrO
