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HomeCrypto NewsMarket$234M Worth of XRP on Move As Investor Transfers 425M XRP from Bitvavo, Another Deposits 28M XRP into Bitstamp

$234M Worth of XRP on Move As Investor Transfers 425M XRP from Bitvavo, Another Deposits 28M XRP into Bitstamp


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Crypto Whales Move $234M Worth of XRP in Two Transactions.

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XRP whales have been active, moving over 453 million XRP in the past 24 hours.

Cryptocurrency whales have moved vast amounts of XRP over the past 24 hours. Notably, Whale Alert shared these developments in a series of tweets.

According to data from Whale Alert, cryptocurrency whales have shuffled a combined 453,518,503 XRP in two different transactions. At the current exchange rate of $0.516, the funds were worth $234M.

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Anonymous Whale Moves 425.1M XRP 

Yesterday, Whale Alert reported that an anonymous user moved 425,118,500 XRP coins to another unknown address at exactly 15:11 (UTC) from the Bitvavo exchange.

As reported by The Crypto Basic, the sender received a total of 425.8M XRP on August 25. Two days later, the address deposited 750K XRP on Amsterdam-based crypto exchange Bitvavo.

Interestingly, the same address emptied the wallet by sending a total of 425,118,500 XRP to a newly created address. It is worth noting that the recipient’s address was activated yesterday.

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According to data from Bithomp, the recipient address currently has a balance of 425,119,000 (425.11 million) XRP.

While the blockchain explorer marked the identities of the whales as unknown, the Crypto Basic disclosed earlier that the fund transfer could be related to an in-house movement by the Bitvavo team.

28.4M XRP Deposited on Bitstamp

Similarly, Whale Alert also observed another massive XRP transfer yesterday. This time, an unknown whale deposited 28.4 million XRP on the Bitstamp crypto exchange.

Per Whale Alert’s data, the transaction occurred at 19:15 (UTC) yesterday. Further investigations into the transactions show that the sender’s address was activated on January 18, 2023. The owner of the address has been active in moving huge amounts of XRP.

Interestingly, the address was involved in 22 different transactions only yesterday. As at 18:53 (UTC), the user received 74,395,000 XRP. Shortly after receiving the funds, the address has been disbursing the coins in bits to different exchanges, including Bitstamp and Bitso.

The largest transaction saw the address move the 28.4M XRP to an address on the Bitstamp exchange. At press time, the sender has a balance of 24,660 XRP.

Meanwhile, the recipient address was activated by Bitstamp as far back as December 16, 2016. After receiving the 28.4M XRP yesterday, the address has been involved in more than 130 other transactions. Most transactions involve the movement of funds out of the wallet.

This suggests that Bitstamp mainly uses the address to meet users’ withdrawal needs. At the time of writing, the address has a balance of 54.7 million XRP.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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