11/7/2022 | Coin Edition

Whale Activity Rises as Millions of XRP and DOGE Change Hands

Whale Activity Rises as Millions of XRP and DOGE Change Hands

Siba Inu and Dogecoin whales move massive amounts of tokens.
Bitcoin whale moves $1.58 billion BTC in a series of transactions.
Crypto exchange Bitstamp and Bitso see whale activity.

According to the crypto whale tracking bot WhaleStats, the top 2000 Ethereum whales hold a whopping $102,219,342 of the popular meme currency Shiba Inu. Meanwhile, Bitcoin (BTC) and Dogecoin (DOGE) whales have also made some moves over the past weeks as the overall crypto market slowly picks up the pace.

Data published on Blockchain.com indicates that a crypto “whale” has just transferred funds from a wallet holding more than 74,105 Bitcoin, with a market value of over $1.58 billion at the time of the transfer.

The BTCs were transferred to wallets of unknown origin. The whale also moved 50,562 BTC worth about $1.08 billion, and another transaction of 23,542 BTC, worth around $505 million went through right after. The whale consecutively made transfers in batches of 4,000 BTC, 10,000 BTC, 10,000 BTC, 9,642 BTC, 10,000 BTC, 10,000 BTC, 10,000 BTC, and 562 BTC.

These transactions came after crypto whales moved over $130 million worth of Dogecoin and XRP late last week. According to the blockchain-tracking tool Whale Alert, an unidentified wallet transferred over $20.7 million worth of DOGE on Tuesday. Just half an hour later, a second untraceable wallet transferred 300 million DOGE, worth over $41.8 million, to a third untraceable wallet.

Also in motion were XRP whales; between the two Dogecoin transactions, a separate unknown wallet moved 60 million XRP to the crypto exchange Bitstamp, approximately worth $28.03 million. A few seconds later, Bitstamp sent over 60.9 million XRP, valued at about $28.4 million, to an unidentified wallet.

However, Bitstamp was not the only exchange to process substantial XRP volumes with more than $13.88 million in XRP transferred to crypto exchange Bitso from an anonymous wallet.

Despite the massive whale activities, the overall cryptocurrency market has dropped 1.6% over the past 24 hours and currently stands at the $1.08 trillion mark.