Ethereum Whale Transfers $51M Worth of ETH, Ripple Moves 55M

Ethereum Whale Transfers $51M Worth of ETH, Ripple Moves 55M

Ripple, the cross-border payment firm has moved $10 million worth of XRP, as Whale Alert points to the $51 million ETH transfer of 273,712 Ethereum units.

Ripple Moving Funds Between Own Wallets

Ripple starts moving millions of dollars to close the week off. The cross-border payment firm is moving funds between its own wallets, according to the report shared by XRPL Monitor.

Bithomp’s data, the Whale tracker, shows that a $10-million worth of 55 million XRP transferred hit the XRP Ledger on April 24, 2020, and the transaction cost was less than a penny.

“Transaction Type: Payment Amount: 55,000,000 XRP Fee: 100 drops (0.0001 XRP). Sender: Ripple. Sender Balance: 14,107,615.129711. Receiver: Ripple. Receiver Balance: 57,711,322.303798,” XRP Monitor Reported.

Ripple obviously owns 60 percent of the 100 billion XRP in circulation. And the payment startup sells part of its XRP holding to third parties on a monthly basis, from its escrow wallets. Ripple has sold a sum of $13 million in XRP directly to institutions over the last quarter, according to the record.

Ethereum (ETH) Whale Transfers 273,712 ETH worth $51 Million

In the past hours, too, Ethereum (ETH) whales have been in action. Whale Alert, the live tracker of large crypto transactions from and to exchanges, an ETH whale transferred $51 million worth of ETH 273,712, from an unknown wallet to another.

Going by the report, the huge transaction took effect on 24th April 2020, at 19:09:26 UTC, between two unknown wallets.

At the moment both Ethereum (ETH) and Ripple’s XRP appear to be subject to the same market situation. The two largest altcoins on the market have failed to record huge price losses or gains in the past few hours.

At press time, XRP is trading at $0.1957, with a 0.84% price rise in the 24 hours, while ETH trades at $195.31, with a 4.65% price increase based on 24 hours estimation.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.