Under the current circumstances, cryptocurrency investors are worried about every major move that could shift the price movement for a token at any time. The collapse of FTX has resulted in a renewed wave of crypto depreciation that could last for a while.

Recently, whale accounts are waking up from their slumbers, moving millions of USD altcoins such as XRP, BNB, MATIC, and Curve.

As per the whale alerts, major cryptocurrency wallets have been moving around massive amounts of altcoins. These wallet exchanges are happening in and out of exchanges, and the currencies are shifted from one unknown wallet custodian to another.

The deep pockets in altcoins are on the move, and cryptocurrency investors must keep an eye on what it could mean for them.

Crypto Winter

Whale Alerts are cryptocurrency tracking services that report all the transactions happening in big digital wallets. Thus far, around 26 million XRP has been transferred out of Bitstamp to an unknown wallet address.

Meanwhile, another installment of 30 million XRP is sent from an unknown wallet to Bitstamp. In the same manner, another 29 million XRP tokens are also added to Bitstamp from an unknown wallet.

At press time, XRP is valued at $0.40 per unit, indicating a 2.3% increase on intraday. On the other hand, whales are also seen moving the top 20 altcoins, such as BNB, ETH, MATIC, and CRV tokens, in and out of cryptocurrency exchanges.

At present, BNB, the native token of the Binance exchange, is valued at $299.58, with fractional gains in the last 24 hours.

WhaleAlerts have noted that BNB tokens have been moved from one exchange to unknown wallet addresses. As per whale trackers, BNB is the most moved currency among whales. One whale wallet moved around 800K BNB tokens from Binance to an unknown wallet location. On the other hand, another whale account moved 422K BNB tokens from one unknown wallet to another.

Some other major tokens are moving among whales, such as 9 million MATIC moved out of an unknown wallet to Binance. 15 million CRV tokens moved out of AAVE protocol to an unknown wallet.

Meanwhile, around 10 million CRV tokens moved from unknown wallets to AAVE. At press time, CRV and MATIC are trading at $0.84 and $0.67, respectively.

Leave a Reply

Your email address will not be published. Required fields are marked *