Whale Sends 89,999,980 XRP to Coinbase As Top Bitcoin and Ethereum Holders Move $500 Million in Crypto

A massive trove of the fourth-largest cryptocurrency is suddenly on the move, with an anonymous whale transferring tens of millions of dollars worth of XRP.

An anonymous high-rolling entity just shifted 89,999,980 XRP worth $22.5 million for a fee of just $5.04.

The transfer was initially spotted by whale watching bot Whale Alert.

According to Whale Alert, the owner moved the funds from a Coinbase wallet to another wallet owned by the same crypto exchange.

Whale Alert is designed to filter out cold storage transactions from crypto exchanges, which indicates that the whale is likely an investor moving funds in the exchange either for storage purposes or to trade the asset on the open market.

Bitcoin (BTC) whales are also out and about in the last 24 hours after moving 29,974 BTC worth $472.8 million. Many of the cryptocurrency was sent from Coinbase to unknown wallets, suggesting that the owners plan to hold on to their Bitcoin.

Here’s a summary of all the largest BTC transactions in the last day:

Ethereum (ETH) whales are also making their presence felt.

In the last 24 hours, five whales transferred 153,761 ETH worth $69.2 million. Three of the transfers relocated crypto from unknown wallets to decentralized exchange Uniswap.

One transfer shifted ETH from a crypto exchange to an unkown wallet while the fifth transfer moved crypto from an unknown wallet to a South Korean exchange.

Bitcoin’s consolidation is pushing the broader crypto market lower. At time of writing, BTC is down 1.21% at $15,315. Ethereum is down 2% at $444 and XRP is down 0.94% at $0.25.

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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 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/Tithi Luadthong

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