The post XRP and Bitcoin (BTC) Witness Jaw-Dropping $500 Million Transfer Activity appeared on BitcoinEthereumNews.com.

Gamza Khanzadaev Bitcoin (BTC) and XRP steal spotlight amid abnormal transfer activity worth half a billion dollars In a stunning turn of events, the crypto space has been abuzz with unprecedented transaction activity, as both Bitcoin (BTC) and XRP took center stage with a remarkable half-billion-dollar surge in whale transactions over the last 15 hours. This crypto spectacle began with a bang when a whopping 2,664 BTC, amounting to $92.22 million, made its way into Coinbase. Little did anyone know that this was just the start of a remarkable series of transactions. Within hours, anonymous wallets began to orchestrate substantial Bitcoin movements. A staggering 1,059 BTC, equivalent to $36.53 million, was withdrawn from Binance US, while 2,766 BTC, worth an eye-popping $96.2 million, flowed into Coinbase. Later on, another significant withdrawal from Gate IO witnessed 682 BTC, amounting to $23.7 million, being transferred to an unknown wallet. What is particularly striking is that a significant portion of these transactions revolved around American exchanges, with Coinbase playing a central role. XRP and Ripple But the excitement did not end there. XRP also took a significant spotlight as 26.5 million tokens, valued at $14.74 million, embarked on a journey to the Bitstamp exchange, while 20 million XRP, equivalent to $11.12 million, found their way to the Bitso exchange.  These transactions appear to correlate with the increasing use of Ripple Payments, with Bitstamp and Bitso acting as vital payment corridors for Ripple. In addition to the Bitcoin and XRP transfers, an equally astonishing $385 million in USDT transfers occurred, primarily revolving around Binance. About the author Gamza Khanzadaev Financial analyst, trader and crypto enthusiast. Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management. He wants to have a…

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Filed under: News - @ October 27, 2023 4:12 am