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  • Bitcoin Whales Move $438 Million in Crypto – Plus Ripple and XRP, Ethereum, Litecoin, Stellar

Bitcoin Whales Move $438 Million in Crypto – Plus Ripple and XRP, Ethereum, Litecoin, Stellar

June 23, 2019

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From a Bitcoin whale migration to new adoption for Ethereum and Litecoin, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Bitcoin investors with large holdings, known as whales, are in overdrive as the price of Bitcoin pushes toward $11,000. In the last 24 hours, whales moved 38,881 BTC worth about $438 million, according to Whale Alert.

Most of the transfers are from crypto exchanges to unknown wallets or from one unknown wallet to another. Only one whale moved crypto onto an exchange, meaning the trader in question may decide to sell some or all of their 700 BTC.

Whale Alert speculates that some of the transfers from cryptocurrency exchange Bitfinex to unknown wallets could be funds moving to cold storage.

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Ethereum

One of the biggest insurance providers in the world is reportedly testing a new proof of concept on the Ethereum blockchain.

MetLife is starting a pilot program to see if the technology can boost efficiency and transparency, reports Forbes.

“In what is believed to be the first pilot program in the world focused on the life insurance industry, MetLife’s Singapore-based incubator LumenLab is collaborating with Singapore Press Holdings (SPH) and NTUC Income (Income) on a platform of smart contracts known as ‘Lifechain’ to help loved ones quickly determine if the deceased was protected with a policy and automatically file a claim.”

MetLife says the pilot is beginning with a sample size of 1,000 users.

Ripple and XRP

Ripple chief technology officer David Schwartz says he has no idea how Ripple’s new partnership with MoneyGram could affect the price of XRP.

Schwartz says the long-term utility of XRP is what will drive the price in the long run.

I don't pretend to understand what things affect the prices of digital assets or how. I don't think anybody really does. My guess is that price is mostly based on assessment of long term utility and the market doesn't think these kinds of things affect that very much.

— David "JoelKatz" Schwartz (@JoelKatz) June 19, 2019

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Litecoin

Litecoin VP of nationwide merchant solutions has announced new adoption for Litecoin. Jon Moore says All American Ford in New Jersey is now accepting LTC.

Great news for everyone!! @allamericanford is now Accepting #Litecoin for Payment!! They are the largest Ford Dealer in the Northeast!! Go pickup a Ford F-150 or Mustang and #PayWithLitecoin Great job @CryptoCrusader1 for hooking it up!!! @johnkim77 @BigEtheword @LTCFoundation pic.twitter.com/RtmqCo1395

— Jonny Litecoin ??? (@jonnylitecoin) June 22, 2019

Stellar

The team at the Stellar Development Foundation just released an interview with the CEO of Stellar-based micropayments platform SatoshiPay. Meinhard Benn talks about how Stellar is powering SatoshiPay’s mission to transform online publishing. The platform allows digital content creators to charge small amounts for their videos, articles and PDFs instead of monetizing content with ads.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.