Deep-pocketed crypto investors are moving hundreds of millions of dollars worth of digital assets into and from centralized crypto exchange platforms as the king crypto falls below $26,000.
New data from whale-surveying platform Whale Alert reveals that high-net-worth traders have abruptly shifted over $730 million worth of Bitcoin (BTC), Ethereum (ETH), and XRP, the majority of them moving into or out of prominent crypto exchanges such as Binance, Coinbase, and Kraken.
The BTC transactions on Whale Alert’s radar, which total to about $458 million, include:
- 2,881 BTC worth 76,006,587 transferred from an unknown wallet to Coinbase.
- 799 BTC worth 20,799,168 transferred from an unknown wallet to Binance.
- 2,898 BTC worth $75,364,882 transferred from an unknown wallet to Coinbase.
- 4,000 BTC worth 104,004,357 transferred from an unknown wallet to another unknown wallet.
- 4,000 BTC worth $104,057,443 transferred from unknown wallet to Bitfinex.
- 1,500 BTC worth $39,022,239 transferred from Bitfinex to Kraken.
- 1,499 BTC worth $39,049,631 transferred from Kraken to an unknown wallet.
Bitcoin is trading for $25,851 at time of writing, a 4.8% decrease during the last 24 hours.
Moving on to XRP, the digital asset associated with Ripple Labs’ payments platform, Whale Alert finds about $240 million worth of movement. XRP transactions noticed by the whale-watching blockchain tracker include:
- 29,600,000 XRP worth $15,135,963 transferred from an unknown wallet to Bitstamp.
- 19,920,318 XRP worth $10,167,904 USD transferred from unknown wallet to Binance.
- 424,354,912 XRP worth $214,293,666 transferred from an unknown wallet to another unknown wallet.
XRP is trading for $0.50 at time of writing, a 2.89% decrease during the last day.
Lastly, Whale Alert finds that an ETH whale suddenly transferred 21,240 ETH worth $34,965,976 USD from an unknown wallet to Coinbase.
Ethereum is moving for $1,631 at time of writing, a 3% dip on the day.
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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 losses 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/IgorZh