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Crypto Whales Move $280M in XRP and Polygon

Crypto Whales Move $280M in XRP and Polygon

With the start of the new week, we are again seeing major altcoin transactions transferring hundreds of millions of dollars.

At the start of this week, there was a significant movement of funds in XRP and Polygon (MATIC) by crypto whales, amounting to a total of $282.5 million.

This activity was reported by Whale Alert and covers the last 36 hours. The whales transferred XRP to and from Bitstamp and Bitso exchanges, with a total value of $248.9 million. The transactions involved both known and unknown wallets, with varying amounts of XRP transferred.

In the case of Polygon, the whales moved a total of $33.6 million, with only one transaction involving centralized exchanges. The majority of the transactions for Polygon were done between unknown wallets, with only one transaction occurring between Bitfinex and Binance.

READ MORE: Changpeng Zhao Allegedly Receives $404 Million from Binance.US Trading Firm

According to WhaleStats, Polygon is now the fifth-largest crypto asset holding among the top 5,000 Ethereum whales. The top four crypto assets among Ethereum whales are Ethereum (ETH), USD Coin (USDC), Tether (USDT), and Shiba Inu (SHIB).

As of the time of writing, XRP is valued at $0.39, reflecting a 0.5% decrease in the past 24 hours. MATIC is valued at $1.49, showing a 0.9% decrease in the last day.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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