• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Series of $800 Million Transfers Raise Questions About Bitcoin, XRP, and Ethereum

Series of $800 Million Transfers Raise Questions About Bitcoin, XRP, and Ethereum

user avatar

by Max Nevskyi

2 years ago


A series of substantial cryptocurrency transfers recently made headlines, commencing with a 3,000 BTC transfer valued at $85.24 million to the Coinbase exchange. This marked the beginning of a sequence of significant transactions, including 6,522 BTC and 6,756 BTC transfers from two unidentified wallet addresses, totaling $376.76 million in value.

Coinbase, a prominent cryptocurrency exchange, played a pivotal role in these major transfers, facilitating the movement of 2,785 BTC and 2,818 BTC, amounting to $158.76 million.

Notably, altcoins such as XRP also saw notable activity. A transfer of 30.1 million XRP, valued at $14.73 million, was sent to the Bitstamp exchange, while 22.85 million XRP, worth $11.17 million, found its way to the Bitso exchange. These transactions appear to be linked to the growing use of Ripple Payments, with Bitstamp and Bitso exchanges serving as vital conduits for Ripple-related activities.

Additionally, Ethereum, a leading altcoin, witnessed substantial transfers. One such transfer involved 70,704 ETH, valued at $110.6 million, moving between two anonymous wallets, drawing significant attention. Another noteworthy Ethereum transfer involved 22,374 ETH, worth $34.73 million, directed to the Coinbase exchange.

These sizable cryptocurrency transfers have raised questions regarding their origins and intended purposes. As is typical in the crypto sector, the anonymity prevailing within the ecosystem makes it challenging to provide concrete answers, despite the desire for increased transparency.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Crypto Investment Funds Face Continued Outflows Amid Market Slowdown

chest

Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.

user avatarAyman Ben Youssef

Blockchain Association Unveils New Tax Principles for Digital Assets

chest

The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.

user avatarSon Min-ho

Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning

chest

The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.

user avatarTando Nkube

Castle Labs Warns of Overbuilt Crypto Market

chest

Castle Labs warns that the cryptocurrency market is overbuilt, with most tokens likely to lose value unless they demonstrate real business traction.

user avatarKofi Adjeman

Bitcoin Mining Difficulty Rebounds, Indicating Network Resilience

chest

Bitcoin mining difficulty has rebounded after a brief dip, indicating renewed miner participation and confidence in Bitcoin's long-term viability.

user avatarNguyen Van Long

Jameson Lopp Raises Alarm Over BIP110's Risks

chest

Jameson Lopp escalates his criticism of the BIP110 proposal, warning it could lead to a disruptive Bitcoin chain split.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.