121 XRP shifted by Anon Address as XRP and most top 10 coins float to red

Yuri Molchan

Anonymous addresses and crypto exchanges wire more than 121 million XRP, according to recently published analysis data


Anon Wallets and Top Exchanges Move 121 Million XRPMarket in red after Fed rate hike, XRP almost unaffected

The popular Whale Alert service that tracks major crypto transfers has spread the word about a staggering 121 million XRP coins that have shifted in two trades in the past 16 hours.

In the meantime, the top 10 cryptocurrencies, including sixth-ranked XRP, are floating in the red.

Anon Wallets and Top Exchanges Move 121 Million XRP

According to data from Whale Alert on their Twitter page, two large XRP clumps have moved in the past 16 hours: 85,000,000 XRP and 36,129,600 XRP.

The larger XRP stash was shoved between two anonymous crypto wallets. However, a deeper look into the matter using the data provided by the Bithomp XRP-focused service reveals that the sender’s address is set by Binance exchange and that the receiving wallet is Bittrex.

The USD equivalent of the 85 million XRP includes $67,785,520.

The second clog was also moved by an anonymous user from FTX trading giant to Bittrex. For example, US-based Bittrex has received a total of 121.1 million XRP.

Market in red after Fed rate hike, XRP almost unaffected

Earlier this week, the US Federal Reserve implemented its intention to raise its key rate by 25 basis points, following the same move the European Central Bank had taken slightly earlier. The Fed has raised interest rates for the first time since 2018.

Prior to the event, the crypto market corrected downwards first, including XRP and its flagship cryptocurrency, Bitcoin. BTC fell about 1.5%; however, the change in the key rate did not affect BTC as it managed to recoup its losses.

At the time of writing, the leading cryptocurrency is changing hands at $40,545 per unit. Altcoins also rose at the time, as the rate hike was partially priced in, according to the Santiment bureau.

However, more than half of the top 10 cryptocurrencies, as well as the majority of the top 100, are floating in the red, showing varying degrees of decline.

In the top 10, only Ethereum, Binance Coin, Avalanche and Tether show small profits and trade in the green.

Image via CoinMarketCap

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