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Cryptocurrency News Today – Headlines for June 5

  • Massive XRP transaction makes waves among traders
  • The sum of 699,999,981 XRP worth $141 million was transacted
  • The whales are moving large transactions in Bitcoin

Cryptocurrency News Today – a massive XRP transaction is making waves among digital currency traders. The transfer of the sum of 699,999,981 XRP (equivalent to $141 million) from Bithumb crypto exchange to an anonymous user wallet that isn’t tied to any institution, exchange, or custody platform.

This huge transfer cost only a fraction of a penny. The move was first seen by the Whale Alert (the crypto ledger tracker platform). The transfer of such lump sum may likely represent a trader who decided to transfer their XRP tokens to a private wallet from the exchange for storage.

Bithumb May Have Moved the Funds for its Customers

Despite reports that the owner of the funds is a single individual, from another angle, the transfer may have being carried out by the exchange (Bithumb). Possibly moving its assets around for its customers. The Whale Alert platform is designed to filter internal transactions and it caught this particular transaction.

After several transactions since the beginning of the week, Bitcoin’s and Ethereum’s whales are now silent. The wider crypto market is trading largely sideways following Bitcoin’s big pump above the $10k mark a position which is surrendered swiftly. Traders now appear to be waiting for the next big shift among digital assets. Zero significant Ether transactions have also been reported by the Whale Alert during the last two days. A relatively small number has happened with Bitcoin. These funds movements are worthy of mention.

Bitcoin Whales are Moving Lump Sums

As stated above, there were three large BTC transactions captured by the Whale Alert in the last two days. Below is a break down of these transactions:

  • 2,454 BTC (which is equivalent to $23.3 million) was transferred from Binance exchange to an unknown wallet
  • 1,100 BTC (which is equivalent to $10.7 million) was transferred from Xapo exchange to an unknown wallet
  • 1,025 BTC (which is equivalent to $9.9 million) was transferred from Binance exchange to an unknown wallet

Meanwhile, an aggregated technical analysis of the top three digital assets by market cap (BTC, ETH, and XRP) has shown a divergent result as of when this content was published. Bitcoin is a “strong-buy” via the 1-day and 1-week charts. It is also good to “buy” via the 1-day chart as well.

Meanwhile, Ethereum is marked as a good “buy” on all the above-mentioned timeframes/charts. XRP on the other hand is listed as good to “buy” on the daily chart (1-day), and sell on the weekly chart (1-week). To get these conclusions we have used a combination of technical indicators such as moving averages, pivots, and oscillators to forecast the price action of the above-mentioned digital assets.

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