Over $166 Million in BTC, ETH, and XRP Transferred

Major cryptocurrency exchanges Coinbase, Kraken, and Bitstamp experienced notable crypto transactions on Monday, according to data analytics service WhaleAlert. The transactions involved Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH), totaling over $166 million.

On Monday, a significant amount of 2,907 BTC, valued at $76.44 million, was transferred to Coinbase. Additionally, 15,000 ETH, worth $23.85 million and reminiscent of previous actions by Ethereum creator Vitalik Buterin, were also sent to Coinbase.

Conversely, Kraken reported a withdrawal of $66.5 million on the same day, although details regarding the specific assets involved were not disclosed.

Bitstamp received a substantial influx of 30.3 million XRP tokens on Monday, which is connected to a surge in Ripple Payments’ service (formerly known as ODL). Ripple Payments partially owns Bitstamp. Interestingly, despite the sizable transfer, there was no noticeable effect on XRP’s price.

These significant crypto transfers underscore the volatile nature of digital asset markets and highlight the impact of large-scale transactions, often referred to as ‘whale’ movements, on these platforms. While such transfers are typical in the cryptocurrency market, their effects can vary widely depending on prevailing market conditions and investor sentiment at the time of the transfer.

This article was generated with the support of AI and reviewed by an editor.