Whales Move Over $730,000,000 in Bitcoin, Ethereum and XRP – Here’s Where the Crypto’s Headed
Deep-pocketed crypto investors are shifting hundreds of millions of dollars worth of digital assets in and out of centralized exchange platforms as the price of Bitcoin drops below $26,000. Whale Alert, a whale-surveying platform, has revealed that high-net-worth traders are moving large amounts of Bitcoin, Ethereum, and XRP into or out of popular exchanges like Binance, Coinbase, and Kraken.
Key Points:
– BTC transactions totaling around $458 million have been identified on Whale Alert’s radar, with significant transfers to Coinbase, Binance, and other wallets.
– XRP transactions worth approximately $240 million have been detected, with transfers to Bitstamp, Binance, and unknown wallets.
– An ETH whale moved 21,240 ETH worth $34,965,976 from an unknown wallet to Coinbase.
– Bitcoin is currently trading at $25,851, a 4.8% decrease in the last 24 hours.
– XRP is trading at $0.50, a 2.89% decrease in the last day.
– Ethereum is trading at $1,631, a 3% dip on the day.
Hot Take:
Crypto whales are making significant moves with their digital assets, indicating their uncertainty about the current market conditions. The large transfers to and from centralized exchanges suggest that these investors are actively managing their portfolios and taking advantage of price movements. The decrease in prices for Bitcoin, XRP, and Ethereum may be a cause for concern for some investors, while others may see it as an opportunity to buy at a lower price. Overall, these whale movements provide valuable insights into the behavior and strategies of high-net-worth crypto traders.
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