Crypto Whales Erupt As Bitcoin Surpasses $15,000, Pushing Ethereum and XRP Into the Green

6 November 2020

in XRP

Reading Time: 3 mins read

Crypto whales are surfacing in huge numbers as Bitcoin crosses $15,000 for the first time in 2020.

In just the last few hours, whales have transferred 15,041 BTC worth $226.2 million.

Most of the cryptocurrency was sent from unknown wallets to Coinbase, where it could be traded on the open market.

Here’s an overview of the largest transfers that just hit the ledger.

• 7,000 BTC worth $105.5 million sent from Coinbase to unknown wallet
• 1,500 BTC worth $22.6 million sent from unknown wallet to Coinbase
• 1,299 BTC worth $19.5 million sent from unknown wallet to Coinbase
• 1,000 BTC worth $15.0 million sent from unknown wallet to Coinbase
• 1,500 BTC worth $22.6 million sent from unknown wallet to Coinbase
• 667 BTC worth $10.0 million sent from unknown wallet to Bitfinex
• 755 BTC worth $11.2 million sent from Bitstamp to Coinbase
• 1,320 BTC worth $19.8 million sent from Xapo to unknown wallet

Ethereum whales are also appearing as the crypto markets surge. In the same three-hour time span, three whales moved 230,254 ETH worth $95.6 million.

Two of the transfers moved crypto between unknown wallets, with the third transfer sending ETH to the decentralized exchange Uniswap.

• 30,000 ETH worth $12.3 million sent from unknown wallet to Uniswap
• 100,254 #ETH worth $41.8 million sent from unknown wallet to unknown wallet
• 100,000 #ETH worth $41.5 million sent from unknown wallet to unknown wallet

Bitcoin’s price movements are pushing the entire market higher. At time of publishing, BTC is up 6.79% at $15,212.

Ethereum (ETH) is up 2.35% at $413, and XRP is up 3.08% at $0.24.

Veteran commodities trader Peter Brandt, who accurately predicted Bitcoin’s crash from its all-time high of $20,000, says concern about dollar devaluation is fueling the top cryptocurrency.

Bitcoin is UP $BTC
Global stocks are UP $SPY
Precious metals are UP $GC_F
Raw material prices are UP $ZS_F

The common theme?

The DEMISE and DEVALUATION of the U.S. Dollar pic.twitter.com/tI8aXFbA8y

— Peter Brandt (@PeterLBrandt) November 5, 2020

Macro investor Dan Tapiero, the co-founder of digital asset equity fund 10T Holdings, says Bitcoin is hitting its moment of truth, with more upside on the horizon.

Now enterring what is called the “moment of realization” for #Bitcoin.

Let’s give some credit to @100trillionUSD here.

I like this model that picked top in late ’17 and most importantly bottom in early ’19.

We are now in what I call the hodlers’ sweet spot.

Get paid to sit. pic.twitter.com/DLyEe30l5t

— Dan Tapiero (@DTAPCAP) November 5, 2020

The CEO of crypto investment giant Galaxy Digital also believes the bull market is just getting started.

He’s telling traders to sit back and let BTC do its thing.

“The hardest thing to do in a bull market is to sit. My pal Paul Jones calls it the ‘pain of the gain’. This is a BTC bull market. Your job is to sit on your hands and lock away your phone. The instinct to ring the cash register is high. Don’t. Just HODL right now.”

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