Whales Move 45,893 BTC and Ripple Moves 18,703,000 XRP As Crypto Market Turns Red

Crypto whale sightings are on the rise as the market turns red.

With Bitcoin dipping below $11,000, some of the largest holders of the leading cryptocurrency are on the move. Of the biggest transfers in the last 24 hours, only one involved BTC making its way from an unknown wallet to an exchange, indicating that particular trader may be gearing up to sell as much as 500 Bitcoin worth $5.5 million.

In the last 24 hours, whales have moved 45,893 BTC worth $521.3 million. Here’s a look at the most high-profile whale action in the last day.

• 500 BTC worth $5.4 million transferred from OKEx to unknown wallet
• 651 BTC worth $7.1 million transferred from Binance to unknown wallet
• 500 BTC worth $5.5 million transferred from unknown wallet to OKEx
• 15,000 BTC worth $170.5 million transferred from unknown wallet to unknown wallet
• 22,923 BTC worth $260.3 million transferred from unknown wallet to unknown wallet
• 533 BTC worth $6.0 million transferred from OKEx to Coinbase
• 5,786 BTC worth $66.5 million transferred from unknown wallet to unknown wallet

Meanwhile, traders are also tracking what appears to be a programmatic sale of XRP from Ripple. The startup, which owns more than half of all XRP in existence, sent 18,703,000 XRP to an unknown wallet.

Just six minutes later, the XRP in question was sent from the unknown wallet to a known wallet at the crypto exchange GateHub.

18,703,000 #XRP (5,626,306 USD) transferred from Ripple to unknown wallet

Tx: https://t.co/NwMmEGitT8

— Whale Alert (@whale_alert) August 12, 2019

18,703,303 #XRP (5,629,974 USD) transferred from unknown wallet to #Gatehub

Tx: https://t.co/gEQIuaDdGQ

— Whale Alert (@whale_alert) August 12, 2019

Ripple holds most of its XRP in escrow and releases one billion per month in order to sell some of its holdings to crypto exchanges and institutional participants. In its latest XRP Markets Report, Ripple revealed the company plans to curb its sales of XRP this quarter.

In the second quarter of this year, Ripple sold $251.51 million worth of XRP.