Crypto Whales Moved 90,000,000 XRP, Around $33.5m

2018/12/27/ 16:06


Just because it’s the end of year holiday period, doesn’t mean there aren’t some big moves in the cryptocurrency space. In fact, it appears it is quite the opposite with Crypto Whale Watchers reporting a massive transaction involving Ripple.


Whilst many people are still recovering from their food coma, a transaction where 90,000,000 XRP (worth around $33.5 million) has been made between two unknown wallets. Not long after this, another large transaction was made, as 30 million XRP (about $11 million) was moved into another unknown wallet.


According to the so-called whale watchers, neither of the two large transactions were going to an exchange. Furthermore, according to Whale Alert, Ripple, which regularly sells large amounts of the XRP it owns, doesn’t seem to be involved in any of the transfers.


In addition, another large-scale transaction was also made last week on Friday the 21st of December, just before many traditional markets closed from the Christmas Holidays. This transfer saw 51,317,796 XRP, which is worth approximately $22.3 million, sent to Bitstamp, a bitcoin exchange based in Luxembourg.


Coinbase moves $5 billion in crypto

Earlier last week, Coinbase, a digital currency exchange headquartered in San Francisco, also confirmed that it moved a significant $5 billion in cryptocurrency to its cold storage infrastructure the previous week. This transaction consisted of a decent portion of the current crypto in circulation. Specifically, it accounted for 5 per cent of all Bitcoin, 8 per cent of Ethereum and 25 per cent of Litecoin, a report from The Dail Hodl said.


However, apart from these large transactions, end of year trading has been relatively quiet. This is, of course, thanks in large part to the Christmas and the upcoming New Years celebrations.



Article Source: financemagnates
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