- Whale Alert posted multiple BTC transfers in the past 24 hours.
- The transactions involve BTC transfers between centralized exchanges and unknown wallets.
- Some crypto users suspect the BTC transfers are linked to XRP purchases.
Whale Alert, a Twitter user specializing in reporting large and significant transactions, has posted multiple BTC transfers in the past 24 hours. The transactions posted involve BTC movements from centralized exchanges to unknown wallets and vice versa. The nature of the posted transactions is generating significant interest among crypto users amid a volatile market.
Among the transactions posted by Whale Alert were one transfer of 805 BTC worth $25.2 million from the Gemini exchange to an unknown wallet and another transfer of 1,886 BTC worth $59.2 million from an unknown wallet to the Coinbase exchange.
In another case, Whale Alert reported the transfer of 1,868 BTC worth $58.7 million from an unknown wallet to Coinbase and a transfer of 2,380 BTC worth $74.9 million from Coinbase to an unknown wallet. Another reported transaction involved 5,200 BTC worth $163.5 million between two unknown wallets.
The volume, nature, and timing of the transactions have generated significant interest among the crypto community. The transactions happened shortly after a favorable judgment for Ripple in its case against the Securities and Exchange Commission (SEC). As a result, some crypto users suspect the BTC transfers are linked to XRP purchases. According to one respondent, the transferred Bitcoin tokens are being converted to XRP.
Bitcoin surged by 5% after a federal judge’s judgment confirming that XRP is not necessarily a security. The rally pushed Bitcoin’s price to $31,818, marking a new high for the year. BTC’s price has retraced amid significant transactions across the Bitcoin network, as observed by Whale Alert.
Bitcoin traded at $31.171 at the time of writing, with several altcoins registering significant gains in the aftermath of the Ripple judgement.
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