• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Crypto whales transfer 260,000,000 Stellar while XLM price tries to stabilize
Stellar

Crypto whales transfer 260,000,000 Stellar while XLM price tries to stabilize

September 14, 2019 by Tabassum Naiz

Whale Alert today analyzed the massive transfer of Stellar’s XLM cryptocurrency from unknown wallet to a crypto wallet that belongs to Kraken exchange.

Whales Move Massive XLM Tokens

A massive 260,000,000 XLM transaction made crypto headlines today which currently worth 15,008,070 USD. The transaction was deemed successful on September 14, 2019, at 00:08:11 UTC between unknown wallet, i.e., GBKSIHGCSYGYLOBPRUL3UDTR4YMBJIUFJJGIKI445GPGIUMX7HJAZKON to a wallet held with Crypto exchange Kraken, i.e., GA5XIGA5C7QTPTWXQHY6MCJRMTRZDOSHR6EFIBNDQTCQHG262N4GGKTM.

🚨 260,000,000 #XLM (15,008,070 USD) transferred from unknown wallet to #Kraken

Tx: https://t.co/5CUrJVZSro

— Whale Alert (@whale_alert) September 14, 2019

The XLM cryptocurrency is already stepped out from the top 10 cryptocurrency’s list on coinmarketcap; it continued experiencing the decline in its daily trading volume. At the time of reporting, the coin is holding 12th largest spot with $1,156,112,429 market capitalization. It is trading at $0.057565 with an appreciation in price by 0.15 percent within the past 24 hours. Admittedly, the coin is showing some fight.

Whales movement in the crypto industry is no more surprise these days since such transactions get caught quite often. Very recently, on Sept.11, Whale Alert spotted transfer of $1 billion worth bitcoin transactions to a single wallet which believed to be a gigantic movement of bitcoins to an unknown wallet.

Stellar and Ripple

Stellar is a blockchain network, founded by a former CTO of Ripple, Jed McCaleb. As both firms offer similar services, Ripple and Stellar termed competing giant. With that being said, the Stellar recently hired Zelle co-founder Mike Kennedy as the CEO of Interstellar, Stellar’s business arm that develops payment protocols on the stellar network.

As Interstellar’s new CEO carries years of experience in the digital payment industry, Stellar aims high and likely face-off Ripple’s ongoing efforts in the fintech industry. Expressing his interest in joining Interstellar, Mike states;

“One of the things Interstellar is going to do is identify gaps between Liquidity and market-making and step in and fill those voids.”

Kennedy added,

“I think programmable money, digital assets, and digital tokens are the future. They allow for faster, cheaper, more efficient money movement than the old traditional way of doing things.”

Besides, the whales’ movement related to Stellar isn’t the first of its kind. Not too long ago, Stellar founder Jed McCaleb was on top bulletins of crypto media. It’s worth noting Jed McCaleb’s wallet address allegedly received XRP worth $26 million from Ripple.

That news wasn’t well-received by the community; few users blasted Ripple over transferring 100 million XRP to Jed McCaleb when company’s native token XRP itself has been making lower lows without showing any signs of accountable recovery.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Crypto Whale, Stellar (XLM)

Primary Sidebar

Recent Posts

  • Cardano (ADA) and Uniswap (UNI) Join Collateral Network (COLT) for Massive Growth Projection From Experts March 28, 2023
  • Bitcoin Bounces Back: Digital Asset Inflows Reach Record High Since 2022 March 28, 2023
  • Binance CEO Addresses Few Key Points On The CFTC Complaint March 28, 2023
  • Shiba Inu L2 Docs Reveal More Details March 28, 2023
  • Bitcoin, Ethereum Enabled In Burger King Paris: Details March 28, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.