Crypto Whale Movements Accelerate, XRP Wallet Transfers 40 Million Coins

Saturday, 02/04/2022 | 09:30 GMT by Bilal Jafar
  • Crypto transactions with a value of at least $1 million are surging.
  • Yesterday, someone sent $138 million worth of BTC from Coinbase to an unknown wallet.
xrp

Crypto bulls are back in the race with substantial transactions. On 1 April 2022, a leading XRP wallet transferred 40 million coins worth over $32 million from an unknown wallet to the digital exchange Bitstamp.

While the crypto market cap jumped by more than $100 billion in the past 24 hours, transactions with a value of at least $1 million have also increased significantly. “Both Bitcoin and Ethereum saw transaction spikes at their tops a couple of days ago. We can see whether transactions are taken while a position is in profit or at a loss. For the first time since November, there were 3x as many profitable transactions vs losing transactions,” Santiment noted.

On-chain movements of crypto whales saw an uptick during the recent market rally. In addition to the $32 million XRP transfer, several other $100 million+ crypto transactions were observed during the last 24 hours. A crypto millionaire address moved 3,000 Bitcoin worth over $138 million from Coinbase to an unknown wallet on 1 April at 16:57 UTC.

Ethereum

While the recent large crypto transfers were mainly focused on Bitcoin, USDT and XRP, the Ethereum network witnessed a rise in whale movements. On 31 March 2022, someone sent over 35,500 ETH worth more than $119 million from crypto trading platform Bitfinex to an unknown wallet. ETH’s price boom has played an important role in its surging whale movements. As a result of the latest developments, Ethereum’s dominance against Bitcoin is increasing.

“Ethereum has been gaining in price dominance against Bitcoin, and the ETH / BTC price ratio of 0.074762 on Friday came within millimeters of an 8-week high of 0.074878. The top 10 whale addresses remain to hold a significant percentage of supply,” Santiment added.

Yesterday, the deposit contract of Ethereum 2.0 topped 11 million ETH.

Crypto bulls are back in the race with substantial transactions. On 1 April 2022, a leading XRP wallet transferred 40 million coins worth over $32 million from an unknown wallet to the digital exchange Bitstamp.

While the crypto market cap jumped by more than $100 billion in the past 24 hours, transactions with a value of at least $1 million have also increased significantly. “Both Bitcoin and Ethereum saw transaction spikes at their tops a couple of days ago. We can see whether transactions are taken while a position is in profit or at a loss. For the first time since November, there were 3x as many profitable transactions vs losing transactions,” Santiment noted.

On-chain movements of crypto whales saw an uptick during the recent market rally. In addition to the $32 million XRP transfer, several other $100 million+ crypto transactions were observed during the last 24 hours. A crypto millionaire address moved 3,000 Bitcoin worth over $138 million from Coinbase to an unknown wallet on 1 April at 16:57 UTC.

Ethereum

While the recent large crypto transfers were mainly focused on Bitcoin, USDT and XRP, the Ethereum network witnessed a rise in whale movements. On 31 March 2022, someone sent over 35,500 ETH worth more than $119 million from crypto trading platform Bitfinex to an unknown wallet. ETH’s price boom has played an important role in its surging whale movements. As a result of the latest developments, Ethereum’s dominance against Bitcoin is increasing.

“Ethereum has been gaining in price dominance against Bitcoin, and the ETH / BTC price ratio of 0.074762 on Friday came within millimeters of an 8-week high of 0.074878. The top 10 whale addresses remain to hold a significant percentage of supply,” Santiment added.

Yesterday, the deposit contract of Ethereum 2.0 topped 11 million ETH.

About the Author: Bilal Jafar
Bilal Jafar
  • 2440 Articles
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About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2440 Articles
  • 71 Followers

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