The cryptocurrency market recently saw a significant increase in large-scale transactions, commonly known as 'whale' transactions, involving Bitcoin (BTC) and Ripple (XRP). These transactions, amounting to around half a billion dollars, took place within a span of 15 hours, according to Whale Alert (@whale_alert).
The sequence of these substantial transactions started with a transfer of 2,664 BTC, valued at $92.22 million, from an unidentified wallet into Coinbase (NASDAQ:COIN). Following this, there were notable BTC movements that included a withdrawal of 1,059 BTC ($36.53 million) from Binance US to an unknown wallet and an inflow of 2,766 BTC ($96.2 million) into Coinbase. Gate IO also recorded a significant withdrawal of 682 BTC ($23.7 million), which was transferred to an undisclosed wallet. It is worth noting that these transactions prominently featured American exchanges such as Coinbase.
Alongside Bitcoin, Ripple's XRP also experienced considerable activity. A total of 26.5 million tokens ($14.74 million) were transferred to Bitstamp and another 20 million XRP ($11.12 million) moved to Bitso exchange. These movements are consistent with the increasing use of Ripple Payments.
In addition to the Bitcoin and XRP transactions, there were also transfers involving Tether (USDT) amounting to $385 million, most of which revolved around Binance.
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