Ripple is moving millions of dollars worth of XRP to close out the week.
Whale watchers are tracking a transfer of 55 million XRP worth $10 million that hit the ledger on Thursday. The total fees for the transaction cost less than a penny.
Transaction Type: Payment
Amount: 55,000,000 XRP
Fee: 100 drops (0.0001 XRP)
Sender Balance: 14,107,615.129711
Receiver Balance: 57,711,322.303798
— XRPL Monitor (@XRPL_Monitor) April 23, 2020
According to the data tracker Bithomp, Ripple is moving funds between its own wallets.
The San Francisco-based payments startup owns more than half of the 100 billion XRP in existence. Each month, the company shuffles XRP from its escrow wallets to its over-the-counter wallets, which are used to sell XRP to third parties. Last quarter, Ripple sold a total of $13 million in XRP directly to institutions.
Meanwhile, Bitcoin and Ethereum whales are out in force, moving a total of $358 million in cryptocurrency.
In the last 24 hours, an unknown crypto whale moved a total of $182 million in Ethereum (ETH) across five separate transactions, all happening between wallets of unknown origin. The largest single transaction moved 273,712 ETH worth $51 million.
🚨 🚨 🚨 🚨 🚨 273,712 #ETH (51,647,144 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 24, 2020
Bitcoin whales have also been busy in the last day, moving a collective 23,544 BTC worth $176 million.
Eight of the transactions involved crypto moving from unknown wallets to exchanges. This could either be exchanges shuffling funds or traders gearing up to sell some of their holdings.
The rest of the transactions moved crypto between exchanges, or from exchanges to unknown wallets.