Whales move more than $730,000,000 in Bitcoin, Ethereum and XRP – here is the direction the cryptocurrency is moving

Financially strong crypto investors transfer hundreds of millions of dollars worth of digital assets to and from centralized crypto exchange platforms as the king cryptocurrency falls below $26,000.

New data from whale-watching platform Whale Alert shows that wealthy traders have abruptly switched over $730 million worth of Bitcoin (BTC), Ethereum (ETH) and XRP, with most of them migrating to and from prominent crypto exchanges like Binance, Coinbase and Kraken.

BTC transactions on Whale Alert’s radar, totaling approximately $458 million, include:

• 2,881 BTC worth 76,006,587 were transferred to Coinbase from an unknown wallet.
• 799 BTC worth 20,799,168 were transferred to Binance from an unknown wallet.
• 2,898 BTC worth $75,364,882 were transferred to Coinbase from an unknown wallet.
• 4,000 BTC worth 104,004,357 were transferred from an unknown wallet to another unknown wallet.
• 4,000 BTC worth $104,057,443 were transferred to Bitfinex from an unknown wallet.
• 1,500 BTC worth $39,022,239 transferred from Bitfinex to Kraken.
• 1,499 BTC worth $39,049,631 were transferred from Kraken to an unknown wallet.

At the time of writing, Bitcoin is trading at $25,851, down 4.8% over the past 24 hours.

For XRP, the digital asset linked to Ripple Labs payments platform, Whale Alert notes that about $240 million worth of movements have taken place. XRP transactions noticed by the whale watching blockchain tracker include:

• 29,600,000 XRP worth $15,135,963 were transferred to Bitstamp from an unknown wallet.
• 19,920,318 XRP worth $10,167,904 were transferred to Binance from an unknown wallet.
• 424,354,912 XRP worth $214,293,666 was transferred from an unknown wallet to another unknown wallet.

XRP is trading at $0.50 at the time of writing, down 2.89% over the past day.

Finally, Whale Alert notes that an ETH whale suddenly transferred 21,240 ETH worth $34,965,976 from an unknown wallet to Coinbase.

Ethereum is trading at $1,631 at the time of writing, down 3% on the day.

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Featured image: Shutterstock/IgorZh

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