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Crypto Exchange Abruptly Moves 1.2 Billion XRP As Bitcoin (BTC) Whales Erupt

October 28, 2019

Whale watchers are tracking a burst of big crypto transfers after Bitcoin’s bounce to its current price of about $9,330.

In the last 24 hours, the crypto exchange Bitstamp began moving mass amounts of XRP.

In total, the exchange transferred 1,200,000,000 XRP worth $356.9 million to a series of unidentified wallets.

The sudden series of transfers may be connected to the exchange’s recent partnership with the crypto custody platform BitGo.

“BitGo, a leader in digital asset financial services, will provide secure storage for the crypto assets under management at Bitstamp.

We will start transferring assets to BitGo’s wallets on 10 October 2019. Our customers will not be affected by this and you do not need to take any action.”

Meanwhile, Bitcoin whales moved a collective 17,915 BTC worth $167 million in the same time frame.

One transaction is standing out among the rest: an anonymous holder moving 10,000 BTC worth $92.9 million between unknown wallets.

Two of the recent Bitcoin transfers to crypto exchange OKEx indicate that those traders may be looking to sell as much as 1,709 BTC worth $16.2 million.

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.