Crypto Whale Archives - Times Tabloid https://timestabloid.com/tag/crypto-whale/ Cryptocurrency and Blockchain Tabs Fri, 20 Sep 2024 08:37:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png Crypto Whale Archives - Times Tabloid https://timestabloid.com/tag/crypto-whale/ 32 32 118 Million XRP Changes Hands Among Whales https://timestabloid.com/118-million-xrp-changes-hands-among-whales/ Fri, 20 Sep 2024 08:22:43 +0000 https://timestabloid.com/?p=45338 Whale Alert (@whale_alert), a prominent whale tracking platform on X, recently reported two significant transactions involving large cryptocurrency volumes. 100 million XRP, valued at approximately $57.9 million, was transferred between two unknown wallets, followed by 18.03 million XRP, worth around $10.39 million, moving to the Bitstamp exchange. These movements have caught the attention of investors […]

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]]> Whale Alert (@whale_alert), a prominent whale tracking platform on X, recently reported two significant transactions involving large cryptocurrency volumes. 100 million XRP, valued at approximately $57.9 million, was transferred between two unknown wallets, followed by 18.03 million XRP, worth around $10.39 million, moving to the Bitstamp exchange.

These movements have caught the attention of investors and analysts, raising questions about the potential motivations behind these transfers and their implications for the XRP market.

Whale Activity in the XRP Ecosystem

Whale activity like this often sparks speculation about market trends and possible price impacts. Large transactions between unknown wallets typically suggest the movement of assets for strategic purposes, such as liquidity management or positioning ahead of major market events.

When such volumes are sent to an exchange like Bitstamp, it may signal an intention to sell, which could apply downward pressure on XRP’s price. However, the lack of significant immediate price changes following these transfers suggests that broader market conditions might be in play.

Historically, whale movements in XRP have been seen as indicators of both bullish and bearish market trends. In previous instances, large-scale transfers by whales have coincided with accumulation phases, where significant investors increase their holdings in anticipation of future gains. This pattern could suggest confidence in the asset’s long-term potential.

Additionally, the crypto market has experienced heightened volatility in recent months, with assets across the board undergoing periods of both rapid appreciation and sharp declines. XRP is trading at $0.5817, and remains in a consolidation phase, having recently recovered from downward pressure.

Potential Outcomes

For XRP, the near-term outlook remains uncertain. While the large transfer to Bitstamp might indicate potential sell-offs, which could result in downward price pressure, other market factors, such as institutional interest and ongoing accumulation by whales, could counteract this and lead to price stability or growth. Historically, XRP has demonstrated resilience, often rebounding strongly after periods of consolidation.

With whales in action again, the market could go in either direction. Investors will watch closely to see whether these movements lead to significant market shifts or if XRP’s price remains steady in the coming days.

The digital asset experienced similar whale movements in late August, and those transactions sent it to $0.62. Market participants hope that a similar surge will follow the recent whale activity.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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]]> 20 Billion ADA In 24 Hours: Here’s the Significance https://timestabloid.com/20-billion-ada-in-24-hours-heres-the-significance/ Thu, 19 Sep 2024 11:12:10 +0000 https://timestabloid.com/?p=45263 Cardano has experienced notable market activity recently. After a period of decline this week, during which the price fell by around 4%, ADA entered a recovery phase. At the time of press, the digital asset traded at $0.3373, up almost 1%, over 24 hours. The recent price recovery appears to be driven by significant whale […]

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]]> Cardano has experienced notable market activity recently. After a period of decline this week, during which the price fell by around 4%, ADA entered a recovery phase. At the time of press, the digital asset traded at $0.3373, up almost 1%, over 24 hours.

The recent price recovery appears to be driven by significant whale activity rather than general market sentiment. Data from blockchain analytics firm IntoTheBlock reveals a substantial increase in large transactions (those valued at $100,000 or more). These transactions rose by more than 10% over 24-hours.

During this time frame, whales moved 19.5 billion ADA, equivalent to approximately $6.48 billion. This level of activity is particularly noteworthy, with over 3,100 large transactions recorded within 24 hours. This figure approaches the weekly high of 3,320 transactions, suggesting a potentially significant trend in Cardano trading.

Implications of Increased Whale Volume

The surge in large transactions often correlates with a shift in market sentiment. Despite rumors that the digital asset might lose its top ten spot, the digital asset has seen a positive rebound.

It had previously demonstrated high transaction volumes, frequently surpassing those of Ethereum. If this trend of increased buying activity persists over the coming days, it could lead to Cardano’s strongest weekly performance of September.

The impact of such substantial accumulation by whales typically manifests in price movements. However, it remains to be seen whether this trend will continue and how it might affect the digital asset’s market position in the longer term.

Cardano’s Position and Appeal in the Crypto Space

Cardano’s founder, Charles Hoskinson, has been actively promoting the protocol’s capabilities. Through global campaigns conducted by Input Output Global and public comparisons with other blockchain platforms like Solana, Hoskinson has consistently emphasized Cardano’s strengths.

Cardano and competing protocols have their respective advantages and limitations. However, Cardano is recognized for its robust security features and durability. The ongoing debate regarding the superiority of different blockchain protocols extends beyond mere technical specifications.

The resilience of these platforms during market downturns and their ability to maintain performance under stress are crucial factors in determining their long-term viability. Hoskinson has consistently called out ADA haters, and the absence of downtimes that plague Solana makes Cardano a superior option for most applications.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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]]> Whale Moved 425M XRP from Bitvavo As Price Holds $0.5 Support. Here’s the Destination https://timestabloid.com/whale-moved-425m-xrp-from-bitvavo-as-price-holds-0-5-support-heres-the-destination/ Sat, 26 Aug 2023 16:16:30 +0000 https://timestabloid.com/?p=20597 In a significant development, an unidentified XRP whale has transferred a whopping 425 million XRP tokens from the Bitvavo exchange after accumulating them over a period of four weeks. Leading whale-tracking platform Whale Alert was the first to bring attention to the transaction, noting in an automated post on X that the whale address moved […]

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]]> In a significant development, an unidentified XRP whale has transferred a whopping 425 million XRP tokens from the Bitvavo exchange after accumulating them over a period of four weeks.

Leading whale-tracking platform Whale Alert was the first to bring attention to the transaction, noting in an automated post on X that the whale address moved exactly 425,868,500 XRP from Bitvavo to an unknown address. Intriguingly, the unknown address was activated on the same day the transaction was initiated.

Read Also: XRP Whales Have Moved Over 1.6 Billion Coins in the Last 24 Hours

Unveiling Accumulation Patterns

The sending wallet, activated on July 29, displayed a consistent behavioral pattern. For 25 days, it regularly received millions and thousands of XRP from Bitvavo.

This accumulation pattern reflects a common trend seen in the XRP market, particularly amidst the recent price drop. Now, the whale address has relocated all the accumulated tokens to the new recipient address, emptying its balance.

Market participants have speculated that these accumulated tokens might have been moved to non-custodial wallets for long-term holding. It is not uncommon for investors to transfer large balances to cold wallets when they intend to hold them for extended periods. However, reports suggest a different possibility.

The recipient address, also activated by Bitvavo, hints that these movements could be internal actions conducted by the Bitvavo team. All the funds from the sending address originated from the exchange itself, suggesting the possibility of in-house transfers rather than external movements.

Read Also: Over 50 Whales that Joined XRP Network over the Past Month Have Accrued 420 Million XRP

XRP Holds Above $0.5 Amid Accumulation Spree

Despite the uncertainty prevailing in the market, the ongoing accumulation trend among XRP investors cannot be ignored. As of August 20, addresses holding between 10 million and 1 billion XRP collectively amassed a balance of 16.1 billion XRP. These wallets have accumulated over 1.6 billion XRP since late July, amidst the downward movement of XRP’s price.

While this accumulation continues, XRP has managed to maintain a relatively stable position above the $0.50 mark.  As of today, August 26, 2023, CoinMarketCap estimates the price of XRP to be $0.5235. It has demonstrated an encouraging 2.39% gain over the past seven days and an impressive 53% increase in value since the beginning of the year. The resilience of XRP amidst these market dynamics underscores the ongoing interest and confidence in the digital asset.

XRP’s ability to hold steady above the $0.50 mark despite market uncertainties speaks to its resilience and investor sentiment. While the recent accumulation trend by XRP holders indicates a belief in the long-term potential of the asset, the relatively stable price showcases a level of support that could contribute to its future growth. As the market continues to evolve, XRP’s performance will remain a focal point for investors and observers alike.

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]]> Whales On LTC Accumulation Spree As Litecoin Halving Event Counts Down. Here’s the Significance https://timestabloid.com/whales-on-ltc-accumulation-spree-as-litecoin-halving-event-counts-down-heres-the-significance/ Thu, 20 Jul 2023 10:45:36 +0000 https://timestabloid.com/?p=18234 Recent market data reveals a significant accumulation of Litecoin (LTC) by top market whales, indicating a positive sentiment surrounding the protocol in the short term. According to insights from Santiment shared by popular analyst Ali Martinez, Litecoin whales have purchased over 590,000 LTC, worth approximately $59 million, in the past 48 hours. #Litecoin whales have […]

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]]> Recent market data reveals a significant accumulation of Litecoin (LTC) by top market whales, indicating a positive sentiment surrounding the protocol in the short term.

According to insights from Santiment shared by popular analyst Ali Martinez, Litecoin whales have purchased over 590,000 LTC, worth approximately $59 million, in the past 48 hours.

This ongoing accumulation trend seems to align with the anticipation of the upcoming halving event in the Litecoin protocol. Scheduled for August, the halving is widely acknowledged as one of the most significant events for the protocol.

Read Also: Litecoin (LTC) Halving Countdown: Important Details to Keep in Mind

The halving introduces potential positivity to Litecoin as it slashes block rewards for miners in half. As a result, the production rate of LTC coins will be reduced, creating a deflationary characteristic that, when coupled with increasing demand, could potentially drive the price upwards.

Litecoin (LTC), in sync with many altcoins, is currently showcasing bullish potential, propelled by a combination of positive factors. As of now, the coin has risen by relatively 2% to reach $94.83, aiming to recover from the losses incurred during the previous week.

Litecoin’s Surge: A Convergence of Positive Factors

In its current stage, Litecoin is witnessing a convergence of favorable circumstances that collectively shape investor sentiment across the market.

Alongside the highly anticipated halving event, Litecoin has been steadily gaining prominence in the field of payments, achieving new records and milestones. With over 170 million transactions processed on its network to date, Litecoin stands out as one of the few protocols maintaining 100% uptime since its inception.

Additionally, the emergence of Ordinal Inscriptions on the Litecoin network highlights the protocol’s adaptability and innovative capabilities.

With whales accumulating LTC ahead of the halving event and the series of positive developments in both the payment sector and technical advancements, Litecoin remains poised for further growth and continued investor interest.

Read Also: Litecoin (LTC) Price Projection: Veteran Trader Peter Brandt Foresees a 700% Surge in Value

Institutional Interest and Market Sentiment

Litecoin’s recent surge in value is further amplified by the increasing institutional interest and positive market sentiment surrounding the cryptocurrency. Institutional investors have started to take note of Litecoin’s potential as a digital asset with established credibility and longevity. This growing interest from institutional players brings a sense of validation and confidence to the market, attracting more investors to join the movement.

Moreover, the overall market sentiment surrounding Litecoin has been overwhelmingly positive. The community’s belief in the coin’s long-term prospects has sparked enthusiasm and engagement, fueling further demand. As a result, Litecoin has gained significant traction and is viewed as a favorable investment option both for short-term gains and as a strategic long-term asset in the ever-evolving cryptocurrency landscape.

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]]> New Shiba Inu Whale Accumulates 4.15 Trillion SHIB, Becomes 27th Largest Holder https://timestabloid.com/new-shiba-inu-whale-accumulates-4-15-trillion-shib-becomes-27th-largest-holder/ Wed, 19 Jul 2023 04:11:33 +0000 https://timestabloid.com/?p=18124 In a surprising development, a brand-new Shiba Inu (SHIB) whale has made a massive accumulation of $32.46 million worth of SHIB tokens in the past 24 hours. This whale, whose activity has been tracked on Etherscan.io, added an astonishing 4,15 trillion SHIB tokens, valued at $32.17 million, to her wallet. These acquisitions were completed through […]

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]]> In a surprising development, a brand-new Shiba Inu (SHIB) whale has made a massive accumulation of $32.46 million worth of SHIB tokens in the past 24 hours.

This whale, whose activity has been tracked on Etherscan.io, added an astonishing 4,15 trillion SHIB tokens, valued at $32.17 million, to her wallet. These acquisitions were completed through three separate transactions, showcasing her substantial appetite for SHIB.

The buying spree commenced approximately 14 hours ago when the whale made her initial move. In the first transaction, she purchased 4,113,776,233,445 SHIB tokens, amounting to $31.88 million.

Read Also: Dormant Shiba Inu Whale with 101 Trillion SHIB Abruptly Moved 4 Trillion SHIB. Here’s the Destination

A few hours later, she made a smaller purchase of 1,500,000 (1.50 million) SHIB tokens, equivalent to a mere $11 in value. In her final transaction, she added an additional 37,966,105,116 (37.96 billion) SHIB tokens, valued at $294,236, further strengthening her portfolio.

Following this substantial accumulation, the newly emerged whale has become the 27th largest holder of SHIB, solidifying her presence as a significant player in the SHIB ecosystem.

Shiba Inu Dominates ETH Whales’ Holdings

According to WhaleStats, a prominent crypto whale tracker, Shiba Inu (SHIB) has surged to become the most traded token among the top 100 Ethereum (ETH) whales over the past 24 hours.

In this select group, the top 100 ETH whales collectively hold an impressive 49,621,465,093,500 SHIB tokens, which amount to a staggering $601,204,724 in value. This accounts for nearly 11% of their total holdings, underscoring the significant presence of SHIB in their portfolios.

Despite recent market volatility, Shiba Inu remains a preferred choice among these influential Ethereum whales, highlighting the sustained interest and confidence in the token’s potential.

Read Also: Big Shiba Inu Whale Buys Additional 150 Billion SHIB

Shiba Inu (SHIB) in the Market

As of the latest data, SHIB is trading at $0.000007824, representing a relatively 1% price decrease in the last 24 hours. However, it is worth noting that the 24-hour trading volume for SHIB has experienced about an 8% increase, reaching $106,642,888, which indicates active trading activity and market engagement.

As Shiba Inu (SHIB) maintains its position as a popular choice among top ETH whales and attracts attention from emerging whales, the cryptocurrency continues to navigate the crypto market with both interest and volatility. Investors and enthusiasts alike are closely monitoring its performance and market trends to gauge its future potential.

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]]> A Closer Look into Four Major XRP Whale Wallets: Did They Sell During the Massive Price Surge? Details https://timestabloid.com/a-closer-look-into-four-major-xrp-whale-wallets-did-they-sell-during-the-massive-price-surge-details/ Mon, 17 Jul 2023 11:05:21 +0000 https://timestabloid.com/?p=18058 After spiking by more than 90%, following Judge Torres’s summary ruling, we expected that XRP would witness a massive sellout from XRP owners after waiting for almost three years. In our books, a spike above 90% seems tempting enough to spur every XRP holder to cash in on the coin. However, our thoughts didn’t play […]

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]]> After spiking by more than 90%, following Judge Torres’s summary ruling, we expected that XRP would witness a massive sellout from XRP owners after waiting for almost three years.

In our books, a spike above 90% seems tempting enough to spur every XRP holder to cash in on the coin. However, our thoughts didn’t play out as envisaged; findings from confirmed sources revealed that not all XRP holders converted their tokens into cash.

Read Also: XRP Whales Have Moved Over 1.6 Billion Coins in the Last 24 Hours

More intriguing is the fact that some of the giant XRP whales are yet to sell a fraction of their massive coin holdings; others only sold a small portion, according to Binance Smart Chain (BSC) data.

In light of the above discoveries, LookOnChain, a leading financial service provider, delved into an analysis of the top four XRP whales that are said to reportedly hold more than 32 million XRP tokens on BSC with approximately $22 million worth of assets at the current price.

Below are data covering the XRP profiles of the so-called whales:

The whale “0xf522” – Largest Whale Is Yet To Sell Any XRP

XRP’s largest holder in BSC, boasting 25 million XRP coins. This whale amassed all its XRP holdings at an average cost of $0.43 within a seven-month interval, April 22 and November 24, 2022, precisely.

So far, this whale is yet to sell any XRP holdings and has only succeeded in providing liquidity on PancakeSwap, a decentralized exchange on BSC.

Whale “0x513d” – Second Largest Whale With 4.6 Million XRP Tokens

The second largest whale boasts 4.6 million XRP tokens in BSC. After purchasing 10 million XRP tokens at an average cost of $0.45 from Binance through the address  “0xa1c3”, this whale invested 5.4 million XRP coins back into Binance when the token price spiked.

Read Also: Whales Moved 135.8 Million XRP Following a Flash of Recovery. Here’s the Destination

Whale “0x8456” – Third Largest Whale, 1.4 Million XRPs In BSC

The third largest whale boasting 1.4 million XRP coins in BSC, purchased all its XRPs from Binance on December 13, 2022, and May 15, 2023, at an average market price of $0.4. This whale is still yet to sell any of its XRP holdings.

Whale “0x8bf6” – Fourth Largest Whale, Purchased All Its XRP Coin Holdings In A Single Day

Holds 1.4 million XRP tokens in BSC; this whale procured all its XRP tokens from Binance on December 14, 2022, when XRP was selling at $0.39. This whale has not sold any of its XRP coin holdings.

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]]> New Shiba Inu Whale Moved 4 Trillion SHIB From Crypto Exchange Wallet. Here’s the Significance https://timestabloid.com/new-shiba-inu-whale-moved-4-trillion-shib-from-crypto-exchange-wallet-heres-the-significance/ Sat, 15 Jul 2023 05:10:03 +0000 https://timestabloid.com/?p=17951 A new whale address has accumulated over 4 trillion SHIB tokens, worth $32.8 million. Following the purchase, SHIB Saw about a 6% price surge, indicating the impact of the massive purchase of tokens by the anonymous whale. The transaction, which was first reported by Whale Alert, took place on July 14 at 11:58 UTC. The […]

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]]> A new whale address has accumulated over 4 trillion SHIB tokens, worth $32.8 million. Following the purchase, SHIB Saw about a 6% price surge, indicating the impact of the massive purchase of tokens by the anonymous whale.

The transaction, which was first reported by Whale Alert, took place on July 14 at 11:58 UTC. The funds were transferred from an exchange wallet to a newly-activated address.

Read Also: Dormant Shiba Inu Whale with 101 Trillion SHIB Abruptly Moved 4 Trillion SHIB. Here’s the Destination

It should be noted that the recipient’s address has not been used in any previous transactions. This suggests that the whale is a new investor in SHIB.

The data from Ethereum Explorer reveals that the transaction involved exactly 4.114 trillion SHIB tokens.

The reason for the purchase is unknown, but it is possible that the whale is accumulating SHIB in anticipation of further price gains as the Shiba Inu community awaits the launch of Shibarium on the mainnet.

Whales are often seen as market movers, so their activity can have a significant impact on the price of a cryptocurrency.

Read Also: Analyzing Shiba Inu (SHIB) Potential Millionaire-Making Ability at Current Prices

The recent whale activity in the SHIB ecosystem is bullish, as it suggests that there is strong institutional interest in the dog-themed digital asset. This could help to drive prices higher in the coming days and weeks.

Other recent whale movements in the SHIB ecosystem include:

  • An old whale address moved 4 trillion SHIB tokens after 157 days of dormancy.

  • 14 separate whales moved over $1 million worth of SHIB as of July 6.

  • Another whale address amassed 152 billion Shiba Inu tokens worth $1.22 million in a single transaction.

The purchase also comes at a time when the SHIB ecosystem is benefiting from the broader market rally, which was triggered by the favorable ruling in the Ripple vs. SEC lawsuit.

The SEC ruling has led to increased confidence in the cryptocurrency market, and this has helped to drive prices higher. SHIB is one of the cryptocurrencies that has benefited from this rally, and the recent whale activity suggests that there is further upside potential for the token.

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]]> Dormant Shiba Inu Whale with 101 Trillion SHIB Abruptly Moved 4 Trillion SHIB. Here’s the Destination https://timestabloid.com/dormant-shiba-inu-whale-with-101-trillion-shib-abruptly-moved-4-trillion-shib-heres-the-destination/ Thu, 13 Jul 2023 10:51:25 +0000 https://timestabloid.com/?p=17867 A giant Shiba Inu whale holding over 101 trillion SHIB has recently moved 4 trillion SHIB tokens (about $29.8 million) to 8 new addresses. According to the report, this is the whale’s first major transaction in nearly two years. A giant whale with 101.47T $SHIB($756M, 10.15% of the total supply, probably the largest holder) transferred […]

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]]> A giant Shiba Inu whale holding over 101 trillion SHIB has recently moved 4 trillion SHIB tokens (about $29.8 million) to 8 new addresses.

According to the report, this is the whale’s first major transaction in nearly two years.

Read Also: A New Shiba Inu Whale Just Surfaced, Bought 3.4 Trillion SHIB worth $115 Million

A Further Look into the Dormant Whale’s Wallet

The whale’s wallet holds 101.47 trillion SHIB tokens, which is about 10.15% of the total supply. This is worth an estimated $756 million. The whale originally acquired even more SHIB tokens, 103.33 trillion, but has sold some of them over the years.

In 2021, the whale sold 603 billion SHIB tokens for $9.6 million and deposited 1.25 trillion SHIB tokens on the Coinbase cryptocurrency exchange.

Even after the recent transfer, the whale still has a significant balance. They still hold 101.47 trillion SHIB tokens, which are now distributed across 23 wallets. This is worth $756 million.

The large transfer of SHIB tokens has attracted attention from the crypto community. It is unclear what the whale intends to do with the tokens, but their actions will undoubtedly be watched closely by SHIB holders and investors.

The price of SHIB is currently trading at $0.00000748, which is a slight uptick of 1.2%. The market capitalization for SHIB is currently $4.41 billion.

Read Also: Shiba Inu Whales Currently Hold 26% of SHIB Total Supply. Here’s Why this Could be Bullish

What does this mean for SHIB holders?

The whale’s motivation for moving the tokens is unknown. It is possible that they are simply consolidating their holdings or that they are preparing to sell them. However, it is also possible that they are planning to use the tokens to support the SHIB ecosystem.

Only time will tell what the whale’s plans are. However, the large transfer of tokens has certainly caused some excitement in the SHIB community. It will be interesting to see how the price of SHIB reacts in the coming days and weeks.

The impact of the whale’s transfer on the SHIB ecosystem

The whale’s transfer of 4 trillion SHIB tokens is a significant event for the SHIB ecosystem. The tokens represent a large percentage of the total supply, and their movement could have a major impact on the price of SHIB.

If the whale sells the tokens, it could cause the price of SHIB to drop. However, if the whale holds the tokens, it could help to stabilize the price or even cause it to rise.

Read Also: Top 100 Ethereum Whales Now Hold 49 Trillion Shiba Inu (SHIB) Worth $362 Million

The whale’s actions will also be closely watched by other SHIB holders. If the whale sells the tokens, it could trigger a sell-off by other holders. However, if the whale holds the tokens, it could reassure other holders and help to prevent a sell-off.

The impact of the whale’s transfer on the SHIB ecosystem is still uncertain. However, it is a significant event that will be closely watched by SHIB holders and investors.

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]]> Crypto Whales Recently Purchased 1.1 Billion XRP worth $570 Million. What’s the Significance? Details https://timestabloid.com/crypto-whales-recently-purchased-1-1-billion-xrp-worth-570-million-whats-the-significance-details/ Mon, 10 Jul 2023 03:53:57 +0000 https://timestabloid.com/?p=17606 Ali Martinez, a prominent crypto strategist, has reported that crypto whales have accumulated up to 1.1 billion XRP worth $570 million since February 2023, citing Santiment data. XRP bag holders have been acquiring XRP in tons, taking advantage of the low price as many believe that a notable turnaround may happen once the protracted lawsuit […]

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]]> Ali Martinez, a prominent crypto strategist, has reported that crypto whales have accumulated up to 1.1 billion XRP worth $570 million since February 2023, citing Santiment data.

XRP bag holders have been acquiring XRP in tons, taking advantage of the low price as many believe that a notable turnaround may happen once the protracted lawsuit ends in favor of Ripple, the major distributor of XRP. This could also imply that the whales are tactically leveraging the periods of decline or consolidation to increase their holdings.

Read Also: Whales Move 101.8M XRP Within Few Minutes As Bitcoin (BTC) Price Hits 2-Week Low

Citing Santiment data, Ali Martinez tweeted, “Ripple whales have purchased over 1.10 billion $XRP since late February, worth around $570 million!”

Significance of these Whooping XRP Accumulations?

It can be recalled that whales grabbed 360 million XRP worth $170 million after the price of the digital asset crashed by 12% in late June. Increased accumulation of any asset by whales is seen as a positive signal that could end in an uptrend.

Something similar occurred in late 2020, which initiated a notable rally for the XRP/USD pair but was later thwarted by the SEC lawsuit of December 2020. All the same, this is considered a historical precedent and could repeat itself in the long run.

Also, XRP daily charts price action could suggest that something big is cooking for the embattled digital asset, which currently occupies the sixth position in the crypto market.

Read Also: 429 Million XRP Moved By a Top Exchange and Whales in the Last 24 Hours. Here’s the Destination

For example, XRP appears to be consolidating between its daily moving averages, flashing a formation that seems to be a cup and pattern. A formation regarded as a bullish signal by chartists. It depicts the trend of an asset in the form of a cup, followed by a downward-trending price pattern.

It’s worth noting that predictions have been generally bullish around XRP over the past months. Many analysts and crypto proponents have claimed that the outcome of the ongoing lawsuit between Ripple and the U.S. SEC has a lot to say about the future price of XRP.

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]]> Crypto Whales Moved 100 Million XRP to Binance and Bitstamp https://timestabloid.com/crypto-whales-moved-100-million-xrp-to-binance-and-bitstamp/ Fri, 02 Jun 2023 09:40:49 +0000 https://timestabloid.com/?p=16248 In a new development, two whale addresses transferred about 100 million XRP ($51 million) to Bitstamp and Binance right before Ripple released the 1 billion tokens for June. Also, other findings disclosed that one of the whale addresses is associated with Ripple, and these transfers occurred right before Ripple’s June escrow unlock. How Much XRP […]

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]]> In a new development, two whale addresses transferred about 100 million XRP ($51 million) to Bitstamp and Binance right before Ripple released the 1 billion tokens for June. Also, other findings disclosed that one of the whale addresses is associated with Ripple, and these transfers occurred right before Ripple’s June escrow unlock.

How Much XRP Did Bitstamp Receive? 

Whale Alert, one of the most advanced blockchain tracker and analytics systems, disclosed that the first transaction that saw 23.5 million XRP, worth around $12.24 million, transferred from an unknown address to Bitstamp occurred on May 31 at 20:33 (UTC).

Read Also: Lawyer Pinpoints Why Uphold Keeps Trading XRP in the U.S. Despite Ripple-SEC Lawsuit

Although the intent of the transaction remains undisclosed, advocates have been speculating that it could involve Ripple’s on-demand liquidity (ODL) or funding for Ripple’s internal operations. In addition, based on On-chain data discovery, the unknown address responsible for the transfer of the 23.5 million XRP was said to be activated by Ripple, which implies an affiliation with the technology company.

Notably, Ripple Expanded its Relationship with Bitstamp following the purchase of Bitstamp shares, previously owned by Pantera Capital, a US-based investment company. Pantera sold the shares for Ripple in the first quarter of 2023 after initially acquiring the shares for $10 million in 2013.

Binance Received 3× XRP Tokens In Comparison With What Bitstamp Acquired

Barely two hours after the first transfer of about 23.5 million XRP, another unknown wallet transferred 75.9 million XRP to Binance, estimated to be worth about $38.83 million. Further probing revealed that the transfer got initiated by Binance, which suggests an in-house movement.

Meanwhile, this is not the first time we have witnessed similar transactions. In March, Binance allegedly moved 34 million XRP, while Ripple moved 100 million tokens to an unknown wallet.

Read Also: Ripple Lawyer Moves to Withdraw as Counsel in XRP Lawsuit, But No Cause for Alarm. Here’s why

Part of Ripple’s Monthly Unlock?

The 23.5 million XRP token transfer coincided with the period just before Ripple released 1 billion XRP from escrow for June. These 1 billion XRP tokens got released in three different transactions involving 200 million XRP, 300 million XRP, and 500 million XRP.

While it is yet to be confirmed if Ripple moved any tokens from the recipient addresses, we can not ascertain if the movement of 23.5 million XRP tokens has anything to do with the platform’s new escrow unlock. There exists a possibility that the cross-border crypto firm may send the released coins to cater to business operations and return the excess XRP to escrow.

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The post Crypto Whales Moved 100 Million XRP to Binance and Bitstamp appeared first on Times Tabloid.

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