Entrenched crypto investors are moving hundreds of millions of dollars in digital assets to and from centralized crypto exchange platforms as the king crypto drops below $26,000.
New data from whale research platform Whale Alert shows that high net worth traders abruptly moved more than $730 million worth of Bitcoin (BTC), Ethereum (ETH) and XRP, with 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, totaling approximately $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 unknown wallet.
Bitcoin is trading at $25,851 at the time of writing, down 4.8% in the past 24 hours.
Moving on to XRP, the digital asset tied to Ripple Labs’ payment platform, Whale Alert finds about $240 million worth of movement. XRP transactions spotted by the whale 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 at USD 0.50 at the time of writing, down 2.89% over the last day.
Finally, Whale Alert discovers that there is suddenly an ETH whale transferred 21,240 ETH worth $34,965,976 USD from an unknown wallet to Coinbase.
Ethereum is trading at $1,631 at the time of writing, a 3% dip on the day.
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Featured image: Shutterstock/IgorZh