Almost $9 Bln in Bitcoin Transferred, Reports Whale Alert, XRP Can't Do That, Bitcoiner Says

Latest Cryptocurrency News
Fri, 12/06/2019 - 09:39
Yuri Molchan
Whale Alert registers twenty-two consecutive transactions in BTC worth almost $9 bln that have taken place over the last two hours
Almost $9 Bln in Bitcoin Transferred, Reports Whale Alert, XRP Can't Do That, Bitcoiner Says
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The Twitter account Whale Alert has posted 22 consecutive transactions from one unknown wallet to another that together are worth nearly $9 bln – each contained around 55,000 BTC. The community is lost in guesses trying to figure out what is going on here.

Whale Alert $9 bln in BTC
Image via Twitter

Almost $9 bln in Bitcoin gets transferred easily

Whale Alert has spotted that around 1,210,000 BTC (around $9 bln) has been transferred between two unknown wallets over the last two hours.

The first reaction of the community was there is something wrong with the Whale Alert account.

The majority of comments are jokes, sarcastic comments or talks about another Bitcoin dump coming soon.

Whale Alert
Image via Twitter

The so-called whales are market players who own a tremendous amount of assets. They are believed to have an ability to manipulate prices by dumping those assets to the market to buy back more of them as soon as the price plummets.

When Whale Alert posted data of large transactions in the past, many users in the comment thread assumed that this is what was happening.

Finally, Whale Alert gave an explanation about these massive transactions.

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Earlier biggest transaction in BTC, users say XRP would have failed here

As reported by U.Today a little earlier, on Thursday, December 5, a similar amount (almost $9 bln) in Bitcoin was transferred within just one hour. That was called the largest BTC transaction in history.

However, the process also proved to be crypto exchanges sending funds to each other for security reasons.

A crypto analyst @themooncarl, when commenting on some of those BTC movements (slightly over $1 bln), said that the fee which had to be paid for that totaled just $6,40. No banks would be able to compete with that.

In the comment thread, a Bitcoin fan pointed out that XRP would be unable to transfer so much money for lack of liquidity and due to being centralized.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.