• 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

3 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

Bitcoin and Solana May See Rebound This Month, Says Expert

chest

Market expert Alex Cardichi highlights potential catalysts for Bitcoin and Solana that could trigger a rebound rally this month.

user avatarSon Min-ho

Zcash Experiences Major Price Surge Amidst Bear Market

chest

Zcash has experienced a significant price increase of around 60% over the last 30 days, contrasting with the overall bearish trend in the crypto market.

user avatarAyman Ben Youssef

Kraken Delays IPO Plans Until 2027

chest

Kraken, the crypto exchange formerly known as Payward, has delayed its plans to go public in the US until at least 2027, following layoffs of approximately 150 employees and market pressures.

user avatarTando Nkube

Bitcoin Faces Major Selloff as Price Drops Below $78,000

chest

Bitcoin has dropped below the critical $78,000 level due to intensified selling pressure and market uncertainty.

user avatarNguyen Van Long

Ethereum Faces Similar Selling Pressure as Bitcoin Drops

chest

Ethereum faces significant selling pressure with Binance Taker Sell Volume exceeding $11 billion as Bitcoin drops below $78,000, indicating a broader market trend.

user avatarKofi Adjeman

Japanese Retail Investors Embrace XRP as a Store of Value

chest

Japanese retail investors are increasingly viewing XRP as a store of value due to a long history of low interest rates.

user avatarJesper Sørensen

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.