Recently, Bitcoin and Ripple whales have kept a low profile, with some important exceptions in the last few hours. As a result, the payment company Ripple transferred a large amount of XRP from one wallet as collateral to three separate wallets on their property.
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Ripple on the move
Yesterday Whale Alert reported the movement of 1,000,000,000 XRP worth US$ 292.8 million in three transactions. Each transaction was closed in seconds and the combined cost of the charges involved amounted to less than one cent.
Although the transfers release funds for the company to sell for cash this month, Ripple is expected to unload only a small percentage of the one billion XRPs unlocked, as it has done in previous quarters. More than individual whales, these are Ripple’s own transactions.
Ripple also sent 133,152,655 XRPs worth $38.8 million to the company’s former CTO, Jed McCaleb. The multi-million dollar transaction is part of an updated settlement agreement that Ripple and McCaleb reached in 2016.
Under the terms of the agreement, the former Ripple executive may collectively sell up to 1% of the average daily volume of XRP.
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In the case of Bitcoin, whales are more active than with Ripple
Yesterday, BTC whales mobilized a total of US$ 279.9 million in Bitcoin. Most of the crypto currencies were sent from wallets of unknown origin to exchanges, where they could potentially be exchanged or sold for cash.
At the time of writing, BTC changes hands to a value of US$ 10,731.77 according to CoinDesk. This represents a decrease of 5.60% from the last value published 24 hours ago.
Therefore, it can be said that the whales that carried out these operations sought to take advantage of the possible profits and benefits while the cryptomone currency remained above US$ 11,000. This would be the second day in a row that Bitcoin falls, but this might not affect the whales that are betting on selling in the long run.