Crypto whales are surfacing in big numbers, moving hundreds of millions of dollars in Bitcoin and Ethereum while BTC hovers around the $11,400 mark.
In the last 24 hours, the crypto whale watching bot Whale Alert tracked 11 large transactions to the tune of 15,006 BTC, worth about $231.63 million at time of writing.
Three transfers sent 4,600 BTC worth $51.65 million from crypto exchanges to wallets of unknown origins, suggesting that the owners may be accumulating the top cryptocurrency.
Two transfers moved 2,300 BTC worth $25.7 million from wallets of unknown origins to crypto exchanges Binance and OKEx, where it could potentially be sold in the open market.
Two transfers sent 1,925 BTC worth $21.36 million from unknown wallets to crypto custody platforms.
The remaining four transactions involve moving crypto from Coinbase to Binance, from a crypto custody platform to an exchange, from a crypto exchange to a crypto custody platform, and from a crypto custody platform to an unknown wallet.
Meanwhile, one Ethereum whale transferred 119,540 ETH worth $41.1 million between wallets of unknown origins. Another Ethereum transaction sent 65,000 ETH worth $22.1 million from decentralized finance platform Nexo to an unknown wallet.
Crypto traders are also following a transaction of 37.5 million XRP worth $9.4 million from the Ripple Genesis wallet to a wallet of unknown origin.
37,500,000 #XRP (9,444,001 USD) transferred from Ripple Genesis wallet to unknown wallet
— Whale Alert (@whale_alert) July 31, 2020
While there’s a lot of movement from BTC whales in the last 24 hours, crypto analysis firm Glassnode says most investors are holding onto their Bitcoin as the leading cryptocurrency pushes above $11,000.
“Despite BTC‘s recent surge to $11,000, there are currently no signs of weak hands from long-term investors. Bitcoin. Hodler Net Position Change remains positive since the end of March, with hodlers currently accumulating more than 50,000 BTC each month.”
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