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.”
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.
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