Bitcoin (BTC) and XRP whales have carried out suspiciously large transactions. The transfer, which includes a large amount of XRPs, took place between the cryptocurrency exchange Bithumb and an anonymous wallet address. It is known that the anonymous account sent to 699,999,981 XRP is not affiliated with any crypto exchange, institution or crypto custody platform.
— Whale Alert (@whale_alert) June 3, 2020
The transaction reported by the Twitter account Whale Alert is thought to belong to a crypto trader that is considering hiding XRP assets.
Another Bitcoin (BTC) Accident May Occur!
Bitcoin whales are also having a very active time. A Bitcoin whale recently received $ 20 million of BTC at OKEx. This is one of the largest single purchases recorded in 2020. The same buyer is reported to have recently purchased a large number of Bitcoins. These transactions caught the attention of crypto investors, and many people wondered what this could mean.
When this size of Bitcoin is sold at once, it can negatively affect the price of Bitcoin and cause an activity called dump. On the other hand, since having assets worth millions of dollars positively affects the price, pump formation can occur.
Although the purpose of the buyer is not known at the moment, some crypto members on Twitter think that the whale can plan pump and dump. But the good news is that big whales don’t sell their assets often.
Ethereum whales are silent these days compared to Bitcoin and XRP. After falling sharply from $ 10,000, Bitcoin seems to have entered the consolidation phase, moving sideways. For this reason, cryptocurrency traders seem to be waiting for the next big change.