Santiment Warns: This Altcoin Is Moving To The Exchanges!

Analytical resource Santiment says whales are carrying large amounts of XRP to exchanges. According to whale watching bot Whale Alert, altcoin whales have transferred around 375 million to exchanges in the past two days.

Altcoin whales carry dormant XRPs

Santiment recently tweeted that XRP had reached several key milestones in the past week. One of them, according to Santiment, was a number of major active wallets that started transferring XRP. In addition, the data provider has released a chart showing that a large number of inactive XRP wallets have also started transferring. Analysis data shows that XRP has reached significant milestones this week and is ahead of other altcoins. Santiment analysts say they will be following these top ten coins closely:

XRP has been ahead of the altcoin market recently and recorded some key milestones in the last week. In addition to triggering several major active address spikes, there have been massive dormant tokens changing addresses this week.

Earlier this week, the former CTO of Ripple finally finished off all his XRPs. Later, crypto tracking service Whale Alert reported that XRP transfers were taking place in large mailboxes. Exchanges FTX and Bitstamp saw the largest transfers of XRP, according to Whale Alert.

375 million XRP changes hands

According to data provided by WhaleAlert, a total of 374.5 million XRP transfers took place in the last 48 hours. Here, 155,000,000 XRP was the largest one-time transfer. FTX transferred 63,501,812 XRP to BitGo during this period. Additionally, Bitstamp sent 46,075,670 XRP to the same address. Ripple Labs is among businesses and financial institutions using BitGo’s crypto custody services, which was acquired by Galaxy Digital, of which Mike Novogratz is CEO, last year. Additionally, Bittrex, a major US-based exchange, transferred 60,000,000 and 50,000,000 XRP to Bitstamp and Bitso, the Latin American cryptocurrency exchange where Ripple invested. The aforementioned transfer of 150 million XRP took place from Binance to Bittrex.

One of the biggest XRP whales has exhausted all its tokens

Former Ripple Labs founder Jed McCaleb has finally exhausted his XRP wallet in eight ways. Only 46.7 XRP left in the famous “tacostand” wallet. On July 17, McCaleb sold 1.1 million XRP worth $394,742.18 in his last transaction. Hours later, the account listed an “ACCOUNT DELETE”, meaning the account will no longer be on XRP’s ledger.

Now analysts say this news is very important for the altcoin in the long run. Jed McCaleb received 9 billion XRP as compensation after leaving Ripple. However, he signed an agreement that only allowed him to sell at certain intervals so as not to put selling pressure on XRP. As Kriptokoin.com, we have compiled the comments of analysts on the long-term impact of this development here.