BTC, ETH And XRP Whale Alert Activity Shows Over $215 Million In Cryptos Being Transferred

After a very negative 2018 for Bitcoin’s price, the crypto ecosystem seems to be moving up once again. This time, it has crossed the psychological resistance levels of $6,000 and is currently trading at over $6,200. Seeing this as an opportunity, crypto whales have started to make their moves.

The term “whale” or crypto whale is often used in the crypto scene to describe bitcoin or other crypto wallets and addresses that hold a considerable amount of the crypto coins or tokens. The ocean serves as a suitable metaphor for the entire market, as it is home to large and small fish. In addition, waves can be understood as market movements and news/announcements as fish feed.

In the past day, many of the biggest addresses in BTC, ETH, and XRP have moved over $218 Million in crypto. The biggest of them being the movement of 9,000 BTC worth about $54.9 million from one wallet to another. Both the sender and the receiver is unknown.

The second biggest transaction that happened yesterday was the movement of $49.7 million XRP to an address which cumalitily holds $105 million of XRP.

Some of these movements are so significant that it has the potential to manipulate the entire crypto ecosystem. Per Wimmer, a former Goldman Sachs banker and the founder of Wimmer Financial LLP, a London-based corporate-advisory firm, explains:

“The crypto market is dominated mainly by ten big whales or privates. They are massive in the market and take up a lot of space and volume so if you take the top 10 or even 50 you will have a lot of the volume covered already. It is too easy to manipulate the market so far.”

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