• The crypto market’s cumulative market cap has dropped to around $812 billion, showing a decrease of 0.88% over the past 24 hours.
• WhaleAlert recorded that crypto whales have transferred about 385 million XRP tokens to crypto exchanges within 24 hours, worth almost $131 million in the current market prices.
• An unknown crypto whale is reported to have purchased up to 35.1 million XRP tokens worth about $11.8 million through the Bitso exchange.
The crypto market has recently been facing the impacts of what is referred to as the crypto winter. This winter has caused the price of many cryptocurrencies to remain low and stagnant, with XRP being no exception. According to data from CoinMarketCap, the cumulative market cap of the crypto market has dropped to around $812 billion, indicating a decrease of 0.88% over the past 24 hours.
However, this dip in price has not deterred crypto whales from taking advantage of it. WhaleAlert, an on-chain data provider, has recorded that crypto whales have transferred about 385 million XRP tokens to crypto exchanges within 24 hours, with the tokens being worth almost $131 million in the current market prices. Furthermore, the data provider indicated that the largest single transaction occurred on Bitstamp, costing $10.1 million. On top of that, the same crypto whale transferred XRP tokens worth about $11.8 million to the Bitso crypto exchange.
Apart from these large transactions, WhaleAlert also reported that an unknown crypto whale is reported to have purchased up to 35.1 million XRP tokens, with the transaction occurring through the Bitso exchange and the whale accumulating Ripple tokens worth about $11.8 million.
All in all, the crypto winter has caused the market to dip and the price of XRP to remain low. However, this dip in price has not hindered the activity of crypto whales, who have taken advantage of the low prices by transferring and purchasing millions of XRP tokens.