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Cryptocurrency

Unknown whale moves $99.3 million worth of XRP

178,892,712 XRP ($99,292,179 ) transferred from unknown wallet to another unknown wallet

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XRP

Wealthy investors seem to be upping their game, amid the strong bullish trend sighted regarding moving XRP, the sixth most valuable crypto by market value, as seen by Nairametrics.

Large entities of late have increased the pace at which such huge transfers are made, as seen via Whale Alert, with about 178.9 million XRP transferred by an investor some hours ago, hinting that there might be more than meets the eye.

“178,892,712 XRP ($99,292,179 ) transferred from Unknown wallet to Unknown wallet,” said Whale Alert.

READ: How Senators reacted to CBN’s crypto ban

At the time of drafting this report, XRP traded at $0.556737 with a daily trading volume of $11 Billion. XRP is down 6.35% for the day.

READ: XRP suffers biggest daily percentage loss since December 23, 2020

What this means

Many crypto experts are of the opinion that the movement of such cryptos are coming from major players within the ripple ecosystem, on the bias that such wallets contain a significant amount of XRP.

  • Meanwhile, in the past couple of weeks, crypto bears have been clawing hard on XRP, amid a legal suit filed against it by a powerful financial regulator in the U.S.
  • Ripple and its top executives were accused by the U.S. Securities regulators of deceiving crypto investors about the status of XRP, and selling over $1 billion of the crypto assets without approval from the U.S. Securities and Exchange Commission.

READ: Crypto market post all-time high, breaks past $1.15 trillion

What you must know

Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The currency traded is known as XRP and transfer times are super-fast.

Ripple (XRP) plays a dual role as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

2 Comments

2 Comments

  1. Jude best

    February 16, 2021 at 7:42 pm

    Will XRP reach $1000 by the end of this year?

  2. Michael omuekere

    February 16, 2021 at 8:42 pm

    Just to no more about crytocurrcy

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Cryptocurrency

Google adds Bitcoin, Ethereum, Litecoin on its finance platform

Google has added selected cryptos to its finance platform.

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Google building its own debit card, Google’s advertising business faces breakup, Google supports media firms in Nigeria, others with $39.5 million

Google, the world’s most powerful and valuable search engine, recently added selected cryptos to its finance platform.

Alongside leading financial markets, particularly in emerged markets, the trillion-dollar company added a “Crypto” section thereby giving Bitcoin, Ethereum, Litecoin, Bitcoin Cash more limelight.

This comes as no surprise to many market watchers, as the leading tech brand incorporating cryptos on its finance page follows a long wave in mainstream approval over the past months.

There is no doubt, 2021 continues to shape up as a very exciting year for crypto assets relatively.

The flagship crypto has gotten more credibility in recent days from blue-chip companies like Mastercard and America’s oldest bank, BNY Mellon showing support for Bitcoin.

Mastercard had earlier disclosed it would open up its network to some cryptocurrencies including Bitcoin.

PayPal and the world’s largest asset fund manager BlackRock have also made big moves to support crypto.

Investments from Square, Paul Tudor Jones, MassMutual, and SkyBridge Capital are further indisputable evidence of big money investors in the flagship crypto market.

Recall some months ago, as the fastest ever-changing financial asset continued to gain traction, renowned financial data media company, Bloomberg Intelligence, gave critical insights on why bitcoin, in just about five years’ time, could hit a valuation of $100,000.

“Bitcoin’s foundation is firming for further price advances if its history is a guide. Since initially reaching $10,000 in 2017, the benchmark crypto corrected about 70% and remains in an extended period of consolidation around that level.”

“It would be recalled that in 2013, Bitcoin was trading barely at a price of about a thousand dollars. It corrected about 80% and consolidated in 2017, after initially reaching $1,000, it added a zero.

“Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.”

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Cryptocurrency

Unknown whale moves $342 million worth of Bitcoin

an unknown BTC whale moved 7,215 BTC (342,066,420 USD) transferred from an Unknown wallet to an unknown wallet

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whale

A significant number of wealthy investors have increased their transactional volume lately in Bitcoin’s market amid rising price volatility in the ever-changing crypto-verse.

Data obtained from Whale Alert, a crypto analytic tracker, revealed that an unknown BTC whale transferred 7,215 BTC (342,066,420 USD) from an unknown wallet to another unknown wallet, some hours ago.

Active crypto-traders and powerful investors seem to now be using the flagship crypto asset of late as a form of treasury asset. Though it’s often challenging to anticipate market movements in the ever-changing crypto market, Bitcoin whales have shown historically that they often determine the BTC trend.

At the time of writing this report, the flagship crypto traded at $47,834.54 USD with a daily trading volume of $47 billion. Bitcoin is down 1.81% for the day.

However, it’s important to note that the market liquidity is tightening at the flagship crypto market, as there are less than 4 million BTCs in circulation available for upcoming investors including the likes of Grayscale, Paypal, and hedge funds.

Recent reports reveal that MicroStrategy Inc. recently bought more Bitcoin to raise the enterprise-software firm’s holdings to more than $4.3 billion.

  • It’s critical to note that just 21 million Bitcoins are ever going to be produced in total, and presently, there are about 18.9 million Bitcoins in circulation.
  • This shows a differential of about 2.1 million Bitcoins left to be produced, not forgetting about 4.5 million Bitcoin that have already been lost forever.

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