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Cryptocurrency markets continue to focus on the Bitcoin ETF process, while the platform Whale Alert, which tracks crypto whales, recently turned investors’ attention to Ripple (XRP).
$14.7 Billion Worth of XRP Transfer
Whale Alert announced on its official social media platform that a Ripple whale attempted to transfer 25,601,477,777 XRP tokens from an unknown wallet to a user’s wallet on the Bitfinex exchange, valued at approximately $14,859,403,329 at the time of writing.
However, according to the data obtained, it turned out that the transaction mentioned by Whale Alert was unsuccessful due to insufficient balance. Moreover, the announcement of such a large transfer in the cryptocurrency has garnered significant interest from investors on social media. It is indicated that such whale transfers can generally create selling pressure in the cryptocurrency markets.
“Attack on Bitfinex”
Experts emphasize that tokens transferred from off-exchange wallets to exchange-owned wallets are usually done for the purpose of selling, noting that large-scale sales could lead to price corrections in altcoins.
Following the transfer news, Tetbher CEO Paolo Ardoino stated that the attempted transaction was an attempt against Bitfinex. He also claimed that the attack on the popular cryptocurrency exchange Bitfinex, which was attempted through partial payments, was unsuccessful due to the proper functioning of the exchange’s “delivered_amount” data field.
