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You are here: Home / Archives for whales

whales

Shiba Inu Grabs Whales Attention As 40B SHIB Tokens Tossed In Exchanges

May 26, 2023 by Lipika Deka

Shiba Inu’s demand rise as nearly 40 billion SHIB tokens was shuffled by whales to and from top crypto exchange platforms, data from Etherscan showed.

The last hour saw a total of six significant transactions, most of which involved 6 or 6.4 billion SHIB that were moved by unidentified large-scale holders.

From the six, the two biggest moved 9 billion meme coins, and the smallest moved 1.5 billion Shiba Inus. 13 billion SHIB were purchased and taken out of the Crypto.com exchange among these billions. On KuCoin, 1.5 billion were both purchased and withdrawn to cold wallets.

Additionally, 6.5 billion SHIB were transferred to OKX, most likely to be sold, and a total of 6.1 billion Shiba Inu tokens were transmitted to a Binance wallet. According to the current SHIB/USD exchange rate, 36.5 billion SHIB is equal to $316,090.

The highly anticipated mainnet debut of Shibarium now has an expected timeline, much to the joy of SHIB enthusiasts. Following user complaints about the lack of one, content marketing professional Lucie Sasnikova tweeted a response between Q2 and Q3 2023.

Besides that, Sasnikova revealed that the Shiba Inu team has several groups working on the launch, including one that integrates AI.

“Our estimate is for 2023, and we are not pumping anything but focusing on sustainable growth. The testing process and security audits are crucial before the launch,” she added.

In addition, Puppynet, the testnet for Shibarium, has continued to expand rapidly since its launch on March 11.

Shiba Inu’s L2 Milestone And A New Listing

Puppyscan’s most recent statistics show that there are now 15.9 million active wallet addresses on the native testnet, up from just 3 million just a few weeks after launch.

In addition, Shibarium recorded over 10 million total transactions, and at the time of publication, the average block time or time it takes to create a new block is 5 seconds.

In related news, the popular memecoin has landed in a well-known platform for trading digital assets Digitra.com, a Brazilian exchange, which recently announced its support for Shiba Inu. This update allows users of Digitra to conveniently purchase, sell, or hold SHIB tokens without any transaction fees.

Filed Under: Altcoin News, News Tagged With: SHIB, Shiba Inu, whales

Bitcoin Whale’s Massive Deposit On Binance Raises Eyebrows In Crypto Community

May 19, 2023 by Mohammad Ali

Bitcoin has grabbed the crypto community’s attention with an enthralling occurrence, as a whale deposited a significant amount of BTC into Binance, the world’s largest cryptocurrency exchange.

The substantial transaction has ignited speculation regarding potential selling pressure and its potential effects on the price of BTC. It is worth mentioning that this massive deposit occurred when BTC exhibited signs of recovery after experiencing losses in the previous week.

Bitcoin Whale Makes Major BTC Transfer to Binance

Renowned on-chain analyst Lookonchain has reported that a prominent Bitcoin whale recently deposited 1,750 BTC, valued at more than $48 million, onto the Binance exchange just a few hours ago. This event has sparked apprehension among market observers, who perceive such substantial transactions as potential indicators of impending selling pressure.

Significantly, Lookonchain highlights that this particular whale has a track record of purchasing substantial Bitcoin. According to the analyst’s findings, the whale initially acquired 10,000 BTC, worth $171 million, on December 1, 2022, when the price of Bitcoin stood at $17,101.The whale’s Bitcoin holdings currently stand at 2,459 BTC, resulting in an estimated profit of around $107 million.

The whale received 10,000 $BTC ($171M) on December 1, 2022, when the price was $17,101.

He currently holds 2,459 $BTC and the profit is ~$107M.

Address: https://t.co/FUn3Osuzh3

— Lookonchain (@lookonchain) May 18, 2023

Bitcoin Market Anticipates Volatility Amidst Whale’s Move

The response of the BTC market to this whale’s actions can be highly unpredictable since the large investor may have motives other than selling the coins. However, considering the historical patterns of price fluctuations that have followed whale deposits on exchanges, it is likely that BTC will soon undergo a surge in volatility.

Based on past events, there is a potential for a temporary decline in BTC price if the whale decides to sell their BTC deposit. The sudden injection of 1,750 BTC into the exchange could initiate a chain reaction of sell-offs by other market participants, resulting in a brief downturn.

Before the emergence of bullish signs, BTC had been experiencing a downward trend over the past few weeks, with a decline of over 10% in the last month. Despite the whale’s activity, BTC trading volume remains below $10 billion.

BTC Price

At the time of writing, the current price of BTC is $26,789, accompanied by a 24-hour trading volume of $15,157,592,389. Within the last 24 hours, Bitcoin has observed a decline of 2.06%. The live market capitalization is valued at $519,452,846,814, with a circulating supply of 19,377,375 BTC coins and a maximum supply of 21,000,000 BTC coins.

BTCUSDT 2023 05 19 06 46 04
Source: Tradingview.com

Related Reading: | Bitcoin’s Stellar Journey: $8.2T Settled, $13.1B Daily Peak, & Unstoppable Growth |

Filed Under: Bitcoin News, News Tagged With: Binance, Bitcoin (BTC), whales

Arbitrum (ARB) Whale Accumulation Skyrockets To $3 Million In Days, Signaling Potential Bullish Trend

May 16, 2023 by Mohammad Ali

The scalable Layer 2 Ethereum network known as Arbitrum observes a fascinating pattern where a particular “whale” or significant holder, identified as address “0x37bf,” is gathering substantial ARB tokens. This address was established four days ago and has accumulated a remarkable sum of 2.5 million ARB tokens, valued at around $2.95 million.

Whale Acquires $2.94 Million Worth Arb Tokens Within Days

The whale started by withdrawing 1.5 million ARB tokens from Binance, valued at $1.76 million, for $1.07 per token. Merely 13 hours ago, the same large holder withdrew another million ARB tokens ($1.18 million) from Binance. It is estimated that the average purchase price of this accumulation is approximately $1.13 per token.

A whale is accumulating $ARB.

Address"0x37bf" was created 4 days ago with 1.5M $ARB ($1.76M) withdrawn from #Binance at $1.07 at the time.

And withdrew 1M $ARB ($1.18M) from #Binance again 13 hrs ago.

The whale holds 2.5M $ARB ($2.95M) now, the average buying price is ~$1.13. pic.twitter.com/FdYcN8Top6

— Lookonchain (@lookonchain) May 16, 2023

While the identity of this whale remains undisclosed, their actions have undeniably captured the attention of the Arbitrum community. This bold maneuver occurs during a time of fluctuation for the ARB token. Nonetheless, it is important to highlight that Arbitrum has experienced a 20% increase in value since it’s recent low, intensifying the fascination surrounding this accumulation.

Amidst recent updates, the Arbitrum Foundation has responded to community pressure by unveiling several modifications. These changes involve splitting a contentious governance package into distinct voting components and rebranding the foundation’s “special grants” program as the “Ecosystem Development Fund.”

Furthermore, the foundation has committed to enhancing transparency concerning fund allocation and the organization’s budget. Additionally, they have emphasized that there are no immediate intentions to sell additional tokens, responding to past concerns raised by the community regarding the sale of millions of dollars worth of ARB tokens for operational purposes without community consensus.

Arbitrum (ARB) Price Movement

The substantial withdrawal of over a million dollars demonstrates the investor’s optimistic outlook on the prospects of ARB. Following a significant drop to its all-time low of $1.06, the ARB token has witnessed an impressive 12.91% surge over the past 7 days.

The average buying price per ARB token for the buyers is approximately $1.13, suggesting a systematic approach to reduce expenses and maximize their token holdings.

The accumulation strategy employed by the whale investor has attracted significant attention and speculation within the cryptocurrency community. This heightened scrutiny has directly influenced the value of ARB.

Currently, the token is experiencing an upward surge, with its value reaching a special price of $1.19 per token, according to CoinMarketCap. The market capitalization of ARB stands at $1,520,777,905, while the trading volume in the last 24 hours has reached $310,180,970.

Relate Reading: | Top 3 Lady’s Token Holders Blacklisted For Suspicious Activity |

BTCUSDT 2023 05 16 15 09 19
Source: Tradingview.com

Filed Under: News Tagged With: Arbitrum, Crypto Whale, whales

Whales Buy Up ADA During the Cardano (ADA) Price Dip, Dogecoin (DOGE) Price Up On The Monthly, Collateral Network (COLT) Set To Surge 35x

May 2, 2023 by Akash Anand

Cardano (ADA) is seeing significant recovery from the 2022 lows, Dogecoin (DOGE) prices are up on the monthly chart suggesting further growth and Collateral Network (COLT) shows great performance on the presale as it has an estimated 3500% price increase by the conclusion of its presale phase. So let’s examine Cardano (ADA), Dogecoin (DOGE) and Collateral Network (COLT) to get a clear picture of where they could head. 

>>BUY COLT TOKENS NOW<<

Cardano (ADA)

Cardano (ADA) has been steadily recovering despite dropping slightly at the beginning of April as Cardano (ADA) started the month by losing its support level of $0.40.

The dip sent a horde of whales and large token holders on a buying spree. They have acquired over 560 million Cardano (ADA) tokens worth over $218.4 million in just two weeks. The Cardano (ADA) large holders are capitalizing on the dip in anticipation of a price increase. 

The buying spree is also a strong indication of the growing popularity of Cardano (ADA) among high-net-worth individuals and institutional investors. Moreover, the recent Cardano (ADA) buying spree shows that large investors are optimistic about a solid bullish moment this year.

>>BUY COLT TOKENS NOW<<

Dogecoin (DOGE)

As its monthly chart shows, Dogecoin (DOGE) has witnessed significant growth. In 2022, Dogecoin (DOGE) dropped notably, along with all the other cryptocurrencies. In fact, Dogecoin (DOGE) fell by close to 60% from its 2021 highs. 

However, Dogecoin (DOGE) has been steadily recovering since the beginning of the year. Dogecoin (DOGE) is still one of the top coins on the market, with huge support from a dedicated community, including billionaire Elon Musk.

At the beginning of April, Dogecoin (DOGE) saw a massive price surge caused by none other than its biggest supporter Elon Musk. Dogecoin (DOGE) surged by over 33% on April 3rd after Elon Musk replaced the Bluebird Twitter logo with the DOGE symbol. After Musk tweeted the new logo and in just a matter of hours, the price of Dogecoin (DOGE) went up to $0.104, its highest since December 2022. 

The Dogecoin (DOGE) market capitalization has also been rising since the year began, which is another reason for the excellent performance of the token on the monthly chart.

image 2
Whales Buy Up ADA During the Cardano (ADA) Price Dip, Dogecoin (DOGE) Price Up On The Monthly, Collateral Network (COLT) Set To Surge 35x 4

Collateral Network (COLT)

Collateral Network (COLT) is another token currently doing great in its presale. As the world’s first decentralized crowdlending platform, Collateral Network (COLT) allows borrowers to unlock liquidity from their physical assets, used as collateral. 

What keeps attracting so many investors to the Collateral Network (COLT) presale is the project’s huge potential for democratizing the crowdlending industry.

Collateral Network (COLT) ensures that you no longer need to pawn or sell your physical assets when you want to get quick cash. Borrowers can use their physical assets, such as fine wines, real estate, or watches, as collateral to obtain the loan.

Borrowers wishing to obtain a loan need to send the physical asset to Collateral Network (COLT), which will authenticate the asset and store it in its vault until the full amount of the loan and interest is paid. Then, Collateral Network (COLT) mints an NFT backed 1:1 by the physical asset. Finally, the NFT is fractionalized, allowing multiple lenders to fund the loan amount. This way, Collateral Network (COLT) enables lenders across the globe to earn a fixed interest rate in return for lending money for loans.

Furthermore, holders of the Collateral Network (COLT) native token, COLT, enjoy several benefits, including governance rights, transaction discounts and staking rewards.      

Collateral Network (COLT) is currently in its presale phase at $0.014, with demand for COLT tokens rising by the day. Experts predict the price of Collateral Network (COLT) to grow by 3500% during the ongoing presale.    

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Presale: https://app.collateralnetwork.io/register 

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk

Filed Under: Press Release Tagged With: Cardano, collateral network, colt, Dogecoin, whales

Polygon Sees 2nd Largest Spike In Whale Inflows

April 26, 2023 by Lipika Deka

Polygon is witnessing one of the largest spikes in whale exchange inflows of the year as 60 million tokens are moved to exchanges.

The whale in question, according to the on-chain analytics platform, Santiment, is one of the largest self-custody Polygon addresses, whose recent action caused the exchange supply of the network to increase to a five-week high of 7.92%. This is the second-largest surge in tokens switched to exchanges this year, Santiment noted.

Typically tokens transfers of such scale by whales leave a significant impact on the overall health of the network. Although these moves might be a sign of market activity and liquidity, they can also cause market volatility and price fluctuations, therefore it’s crucial for investors to exercise caution when such activity occurs.

Whales which are large holders, generally move their tokens to exchanges with the intention of selling them.

It’s also important to keep in mind that this specific whale has self-custody, which could be a plausible explanation for the significant movement of tokens. According to Santiment, the whale still holds a sizable quantity of MATIC, holding 3.78 billion tokens.

“Be cautious when whale exchange inflows happen. But note that the whale still owns 3.78B”, the data platform added.

A few months ago, a Polygon whale deposited $5.2 million in MATIC to Binance, data from the cryptocurrency transaction tracker service Whale Alert showed.

Over 4 billion MATIC tokens were moved to the Ethereum blockchain in a few hours.

Polygon: Whale Movements Are Crucial Price Indicators

Given that the amount involved is quite significant, it is safe to assume that a large-scale investor could be behind the transaction.

In order to determine if an asset has a bullish or negative price outlook, traders and investors typically watch the movements of these cohorts of holders, who have the ability to influence market prices.

The direction of the asset’s value can be determined by such substantial transactions, regardless of whether they were undertaken for buying or selling motives [or possibly neither of these].

MATIC in tandem with the altcoin troupe was trading in the red. At the time of writing this article, the ninth biggest crypto was down 3% in the last 24 hours at $0.96, per CoinMarketCap.

Filed Under: Altcoin News Tagged With: MATIC, Polygon, whales

Whales Ship 34M Dogecoin Amidst Price Dip

March 31, 2023 by Lipika Deka

Roughly 34 million Dogecoins worth around $2 million were moved by anonymous large-scale investors most popularly known as whales.

According to data from a top crypto tracking service, Whale Alert, a sizable sum was transferred to a Binance wallet with the intention of selling the meme token because its price has not yet caught up to the market’s bullish trend.

Dogecoin, at the time of writing this post, was exchanging hands at $0.07, down by 3% on the weekly index.

Shortly after the move, another transfer of 350 million DOGE took place between two anonymous wallets all in a span of a few hours.

At the time the transaction was made, this number of meme tokens was worth over $26 million. This transfer was identified as one between the top 20 wallets by the @DogeWhaleAlert DOGE transaction tracker.

That being said, the OG meme token was in the spotlight for its listing across several leading crypto platforms.

As reported by TronWeekly, Unstoppable Domains, a well-known distributor of Web3 domains, announced adding the token as payment for domain purchases.

With this inclusion, the eighth-ranked crypto joined the list of its bigger rivals such as Bitcoin [BTC], Ethereum [ETH], and Litecoin [LTC] into Unstoppable Domains’ digital asset payment services.

The popular memecoin also scored entry for trading at the Philippine crypto exchange Coins.ph.

The listing gained significance because Coins.ph, one of the first cryptocurrency exchanges to be established in the Philippines in 2014, has more than 16 million members globally.

Meanwhile, Dogecoin was recently identified as one of the digital currencies with a serious vulnerability in its coding.

A Major Vulnerability In Dogecoin’s Open-Source Code Averted

A top security firm Halborn discovered a serious flaw in the open-source code of multiple blockchain networks, including Dogecoin. Around $25 billion in digital assets are at risk due to this vulnerability, known as Rab13s.

In its blog, Halborn said that while entrusted with analyzing the Dogecoin open-source software, it found multiple exploitable flaws that, when brought to the attention of the Doge team, were corrected.

The Florida-based firm also came up with an exploit kit for Rab13s, complete with a proof of concept that includes programmable parameters to simulate attacks on various networks.

The kit also includes all the technical data essential to identifying stakeholders who can assist in fixing bugs and releasing critical updates for the general public and miners.

Filed Under: Altcoin News Tagged With: DOGE, Dogecoin, whales

Here’s Why Bitcoin’s Losing Its Whale Count; Lowest Since 2019

February 21, 2023 by Aishwarya shashikumar

Everyone is aware of the world’s largest cryptocurrency, Bitcoin (BTC). Even the average Joe is aware of crypto today. With the surge of new coins in the market today, BTC seems to be losing its charm.

On Sunday, the quantity of Bitcoin (BTC) whales—wallet addresses with 1,000 or more BTC—dropped to its lowest level since August 2019.

According to crypto analytics company Glassnode, there were 2,027 whales on Sunday, February 19; the previous time their number fell this low was August 5, 2019, when they were 2,023.

With each whale having close to $25 million in BTC at its current price of about $25,000, owning that much of the digital currency is a significant act of faith. Just under 2,500 people were BTC whales at their peak in February 2021, but since then, their numbers have been slowly declining.

Screenshot 250
Source

The number of whales increased from 2,117 on February 21 to around 2,286 on March 23 during the market rise that took place between February and March 2022, notwithstanding this tendency.

Whale Behavior And Bitcoin Price Correlated?

The so-called mega whales, or those with more than 10,000 BTC, which, at the current exchange rate, would be an investment worth over $250 million, don’t exhibit the same tendency.

Only 117 mega whales are present, which is not far from the historical peaks of 123 in November 2022 and 126 in October 2018. Their actions have typically had significantly less of an impact on the price of bitcoin.

Notwithstanding the significant fluctuations in the price of the virtual currency we have witnessed over the past five years, the number of smaller investors in BTC, or wallets holding more than one coin, has gradually climbed.

Now, there are 982,000 wallets holding more than one Bitcoin, a significant increase from 788,000 in February 2020 and roughly 814,000 at this time last year.

Screenshot 251
Source

The news is released at a time when the price of Bitcoin has increased in 2023 after plunging sharply in the later half of 2022 as a result of the high-profile failure of the cryptocurrency exchange FTX.

At the time of writing, Bitcoin (BTC) was priced at $24,702.72 and had taken a plunge of 0.48%, over the last 24 hours.

Filed Under: News, Bitcoin News, World Tagged With: Bitcoin (BTC), whales

Dogecoin Becomes Whales’ Favorite After Musk’s Christmas Tweet

December 26, 2022 by Lipika Deka

OG memecoin Dogecoin returns to be whales’ favorite after Twitter boss and DOGE proponent Elon Musk sent Christmas greetings with a picture of Shiba Inu and his other pet dogs.

Data from WhaleStats showed that DOGE became the most traded token among the top 100 Binance Coin [BNB] holders by flipping the new investors’ favorite, Filecoin’s token, FIL.

The price of the token was not significantly affected by Musk’s subsequent mention of DOGE, but trading volumes during the holiday were higher than on other weekdays in the previous month.

Recently, a massive amount of DOGE was moved by the biggest Dogecoin whale in the crypto market.

The DOGE transfer was transferred from the biggest Doge wallet to the fifth biggest wallet address of the memecon. 

According to reports, the largest crypto holder sent almost 3.8 billion DOGE, which is equal to 280 million USD at the current price of Dogecoin of 0.7242 USD.

The transfer happened within the previous 24 hours and was received by the address known as “DDuXGM.” Due to the fact that it is the fifth-largest wallet on the Dogecoin blockchain, the wallet address that got the huge sum also belongs to the whale wallet.

The original parody cryptocurrency, Dogecoin, managed to stay relevant all year. This is unquestionably connected to Elon Musk’s acquisition of Twitter.

Dogecoin Was The Most Searched Crypto

Everyone in the world is aware that DOGE is Musk’s favored cryptocurrency. The fact that the asset is on Twitter has frequently come to light. During this time, the bitcoin price saw gains.

Through 2022, the meme cryptocurrency saw extreme volatility. DOGE is presently trading around $0.07 after reaching a high of $0.185 at the start of the year. Additionally, earlier this year, the asset fell to a low of $0.04972.

image 53
Dogecoin Becomes Whales' Favorite After Musk's Christmas Tweet 8

From the above chart provided by Lunarcrush, Dogecoin’s social influence was much greater in October 2022 than it is right now.

It’s obvious that Musk’s takeover of Twitter also had an impact on Dogecoin’s popularity. The token was searched for globally 5,850,000 times per month at its peak. Only 729,000 of them were Americans.

Filed Under: Altcoin News Tagged With: BNB, DOGE, Dogecoin, whales

Bitcoin At $18,000 Due To Whales, Or Just Watching Market Fails?

December 15, 2022 by Aishwarya shashikumar

Bitcoin [BTC] was pushed to a two-year low by the erratic bear market. While the general public anticipated that BTC would have a difficult time recovering, it may have already begun to lay the groundwork for this. The biggest cryptocurrency in the world soared to a monthly high of $18,318.53 earlier today. This gave the market a break and raised the prospect of BTC advancing in the direction of $19K or possibly $20K in the near future.

Whale addresses holding 100 to 10,000 BTC may have been the cause of the most recent change in the price of Bitcoin. There are currently 15,848 addresses holding a significant quantity of bitcoin. It should be mentioned that there are currently 43,460,000 Bitcoin addresses in existence. Therefore, 0.0364% of all BTC addresses are owned by these whales.

But did the price of Bitcoin depend on these whales? The market has seen 159 new addresses with 100 to 10,000 BTC enter over the past three weeks. It should be highlighted that during the past 10 months, this location has experienced the quickest increase. Over the past nine days, all of these whales have been able to buy a staggering $726 million worth of Bitcoin.

52ec2741b452f43016583382d211bb7726a0e8090e5493688773f950d7accb9f 1671059465382 Screenshot 2022 12 14 151035
Source

The fact that these whales were stockpiling rather than dumping came as a tremendous comfort, even though it wasn’t the only factor in BTC’s most recent gain. Santiment noted that Bitcoin whales engaged in a 14-month dumping binge. Expanding on what Santiment already stated,

“..we may be seeing a turnaround now. Not necessarily with prices just yet… but at least with whales finally accumulating rather than dumping. We have seen the largest streak of new BTC whale addresses being created in 10 months.”

Prominent stablecoins were also accumulating more and more, as seen in the photograph.

Will Bitcoin Take Its Throne Back?

The community, though, appeared to be optimistic about BTC trending near $19K.

NM1kBMyB
Source

The BTC/USD daily chart’s signal suggests that the value of the king coin may be increasing. Below the candlesticks, the Parabolic SAR indicator created a support line that prevented the asset from falling further.

As the MACD line was above the signal line, the MACD indicator made a bullish crossover. The Relative Strength Index [RSI] indicator, which held above the 50 median, also indicated a positive idea.

The report from Santiment and the aforementioned chart showed that an upturn might be possible. Although the community has reasons to be upbeat, news about FTX, the conflict between Ukraine and Russia, and Covid could have an influence on the market.

Filed Under: News, Bitcoin News, World Tagged With: Bear Market, Bitcoin (BTC), whales

Ripple Sent 100M XRP To Unknown Wallets

November 6, 2022 by Lipika Deka

A total of 100 million XRP worth almost $50 million was moved to unknown wallets by blockchain major Ripple, data from Whale Alert showed.

Just a few days ago, whale movements were at their peak when a whopping 975 million XRP tokens were transferred in less than two hours according to the blockchain tracking platform.

The largest transaction ever was the transfer of 500 million XRP, or $230.36 million, from an unidentified wallet to a Ripple Escrow wallet. It was instantly locked in “escrow” at the Ripple Escrow wallet, a function that enables users to set conditional cryptocurrency payments.

A transfer of 300 million XRP, or $138.56 million, from an anonymous wallet to Ripple was the second-largest transaction that was seen.

Anonymous wallets deposited 54.23 million XRP, or about $25 million, to the cryptocurrency market Bitso in Mexico. Per data, a whale transferred 60 million of the above asset, or around $28 million, from a secret wallet to the Bitstamp cryptocurrency exchange in Luxembourg.

Reason Behind Massive XRP Tokens Transfer

In the hours leading up to the time of publication, the recipient’s identity is still unclear. The transfer, however, is anticipated to be linked to the On-Demand Liquidity [ODL] program offered by the blockchain corporation.

Ripple might have transferred the funds to a user of its ODL solution. It is important to note that Ripple’s ODL utilizes XRP as a bridge currency for international payments.

The token noted another uptick in the on-chain metric count.

Data from CoinMarketCap revealed that the token’s trading volume recently experienced a dramatic increase of 1,500%. However, the price of the coin was unaffected, leading the crypto community to speculate.

Increased volatility often results in higher trading volumes as seasoned traders buy and sell big amounts of cryptocurrency to make profits. However, as the coin has been consolidating in a range since Oct. 20, this was not the case for XRP this time.

Investors who wanted to purchase the asset at its present range in expectation of a significant price change may have been the most likely cause of the spike. As of the time of writing, XRP is trading at $0.49, a marginal increase of 1.28% over the last 24 hours.

Filed Under: Altcoin News, News Tagged With: ripple, whales, xrp

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