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For the second week in a row, Ripple (XRP) takes top spot with a massive 463,420,929 XRP transfer totalling $136.3 million. XRP appears to be completing a lot of whale moves over the past few weeks, most likely because of the recent news soaring around payments processor SWIFT potentially partnering with Ripple.
XRP manages to claim the coveted top spot this week for a second week in a row. What is more impressive is that XRP is in the top five a total of three times, claiming first, second, and fifth.
Read more: Whale Watching: XRP dominates with $59 million transaction for $0,047 (!)
This week sees very little variation as the third and fourth spot are held by USD Coin (USDC). USDC is well known for making plenty of whale moves, and this past week was no different.
Read more: What are Bitcoin whales and do they really control the market?
Looking at the whale movements for XRP, it is hard to say what exactly the movements represent, however speculation surrounding each transaction comes back to the potential purchase of XRP from major investors. The chance of big players getting involved is very likely with all the positive news surrounding Ripple and talk about Ripple "revolutionizing" remittance and overtaking "ancient" SWIFT.
Read more: If I'm not a Bitcoin whale, then what am I?
The large sum of $136.3m worth of Ripple does not appear to have been sold off instantly, as Bitstamps daily trading volume of XRP in USD, EUR, and BTC currently totals around $7.5m. Either major investors have invested in XRP or the company is selling off slowly.
USDC continues to feature in the top whale movements, and once again, both transactions offer little evidence of where or why the transactions took place. Both whale movements feature unknown wallets.
Read more: Who are known Bitcoin whales? 5 famous whales in the cryptocurrency space
Furthermore, the most expensive transaction in the top 5, cost a total of $0.04, with the XRP transactions costing below $0.00015.
TOP 5 LARGEST WHALE MOVEMENTS:
5. 40,000,000 #XRP (12,906,525 USD) transferred from Ripple OTC Distribution wallet to #Ripple -30 Jan
Tx Cost: $0.0000036
🚨 40,000,000 #XRP (12,906,525 USD) transferred from Ripple OTC Distribution wallet to #Ripple
— Whale Alert (@whale_alert) January 31, 2019
Tx: https://t.co/XC6n78cxQO
4. 15,000,000 #USDC (15,196,063 USD) transferred from Unknown wallet to Unknown wallet - 31 Jan
Tx Cost: $0.03
🚨 15,000,000 #USDC (15,196,063 USD) transferred from Unknown wallet to Unknown wallet
— Whale Alert (@whale_alert) January 31, 2019
Tx: https://t.co/7tsUTfa6xT
3. 45,000,000 #USDC (45,577,382 USD) transferred from Unknown wallet to Unknown wallet - 30 Jan
Tx Cost: $0.04
🚨 🚨 🚨 🚨 45,000,000 #USDC (45,577,382 USD) transferred from Unknown wallet to Unknown wallet
— Whale Alert (@whale_alert) January 30, 2019
Tx: https://t.co/CM3cOgWqjR
2. 392,834,643 #XRP (114,220,230 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet - 28 Jan
Tx Cost: $0.00015
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 392,834,643 #XRP (114,220,230 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet
— Whale Alert (@whale_alert) January 28, 2019
Tx: https://t.co/5i7A2U4pEh
1. 463,420,929 #XRP (136,324,998 USD) transferred from Ripple to Bitstamp - 28 Jan
Tx Cost: $0.00015
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 463,420,929 #XRP (136,324,998 USD) transferred from Ripple to Bitstamp
— Whale Alert (@whale_alert) January 28, 2019
Tx: https://t.co/kuO9egPDtt
This weeks whale moves saw the top five transactions move a total of $324,224,198 in crypto transferred for a total transaction fee of $0.0703036
Read more: The 10 largest Bitcoin whale movements in history: from 66K to 500K (!) BTC