A calm before the storm ?. Crypto Whales decreased their actions this weekend.
A calm before the storm ?. Crypto Whales decreased their actions this weekend.

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While the market tries to stay afloat with good prices in most of its most important altcoins and Bitcoin struggles to break the resistance of the 10500, the whales did not have an outstanding performance this weekend, unlike what they managed to mobilize during the previous five days.

 

Only one $ 109 million dollars were accounted for by Whale-Alert.io on its website that monitors the important activities recorded in the cryptocurrency ecosystem by the so-called 'crypto whales', corresponding to just over 32 million mobilized currencies.

Of the highlights of the transfers made by crypto whales, they highlight the movement towards the JedMacCaleb wallet for 100 million XRP tokens and a transfer made between wallets with an unknown address for 5,747 BTC.

 

The $ 26.3 million transfer from Ripple to the JedMcCaleb wallet was the most notorious event over the weekend, for all that the character implies. Recall that McCaleb was the first cryptocurrency evangelist who technically launched the famous missing exchange Mt.Gox, in addition to being the co-founder of Stellar, the project behind the ADA cryptocurrency.

When the movement became known, some began to speculate that a price drop on the token would be at stake, given the assumption that McCaleb could sell his XRP fortune that he would have recently acquired in the open market. The controversial character received $ 9 billion in XRP for starting the Ripple Labs company, which he later abandoned in 2014, signing an agreement prohibiting him from selling more than 10,000 XRP weekly. However, according to a WSJ report, he stepped up sales in 2018.

 

A recent Bloomberg article examined the slow performance of XRP prices in 2019. stating that McCaleb sells XRP 500,000 per day according to CoinMetrics data, so many members of the Ripple community accuse him of doubling the token trend toward low.

On the other hand and not least, a whale mobilized funds last Saturday, September 7, 2019 between wallets of unknown origin for a value close to $ 60 million, equivalent to 5,747 Bitcoins.

The mobilization took place one hour after the fall of the main asset of the market by more than 200 points, going from the immediate resistance of $ 10500 to $ 10200 in a single large red candle.


daniejjimenez
daniejjimenez

Evangelist Blockchain Technology


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