FacebookTwitterLinkedInTelegramCopy LinkEmail

Crypto Whales Stir Up the Market with Abrupt Asset Shifts

Crypto Whales Stir Up the Market with Abrupt Asset Shifts

Prominent crypto assets such as Bitcoin (BTC), Polygon (MATIC), and XRP are experiencing sudden shifts of hundreds of millions of dollars, according to Whale Alert, a platform that tracks the activity of crypto whales.

The platform’s data reveals that wealthy crypto investors are relocating large amounts of these assets between different wallets and crypto exchanges.

For instance, one well-to-do investor transferred 5,502 BTC worth $124,830,222 from an unknown wallet to another, while another moved 5,000 BTC worth $113,427,139 in a similar manner.

Whale Alert also noted other significant transactions, such as the transfer of 902 BTC worth $20,549,808 from Coinbase to an anonymous wallet and the transfer of 1,300 BTC worth $29,859,483 from an anonymous wallet to Coinbase.

In addition to Bitcoin, Whale Alert also tracked whale activity related to MATIC and XRP.

READ MORE: Ethereum (ETH) Positioned For a Correction?

For MATIC, the platform discovered two transactions, one where 20,000,000 MATIC worth $26,589,171 was moved from an unknown wallet to another and another where 18,000,000 MATIC worth $23,800,532 was transferred from one anonymous wallet to another.

Whale Alert also monitored two transactions involving XRP. One transaction saw a crypto whale move 34,000,000 XRP worth $13,586,728 from an unknown wallet to Bitstamp, while another saw a well-funded trader relocate 25,400,000 XRP worth $10,068,153 from Bitso to an anonymous wallet.

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.

Learn more about crypto and blockchain technology.