In a surprising move, some of the biggest players in the crypto market are shifting massive amounts of Bitcoin (BTC), Ethereum (ETH), XRP, and Polygon (MATIC).
According to data from the whale-tracking platform Whale Alert, these transactions have taken place during a market dip, indicating that deep-pocketed investors are seizing the opportunity to buy into the market.
Whale Alert reports that $849.1 million worth of Bitcoin was moved during the past two days, with the largest transaction being a transfer of 10,000 BTC worth $269.4 million from one unknown wallet to another.
Other Bitcoin transactions include transfers to B2C2 and Coinbase, as well as transactions to and from Binance.
Meanwhile, a large investor moved 30,000,000 MATIC worth $24.94 million from Polygon Staking to an unknown wallet.
Whale Alert also notes two significant Ethereum transactions that totaled $164.4 million, with transfers to Binance and an unknown wallet.
The native asset of Ripple Labs’ payment platform, XRP, is also seeing movement among high-net-worth traders. One whale moved 50,000,000 XRP worth $20.95 million from Ripple to another unknown wallet, while another transaction saw 28,000,000 XRP worth $11.59 million transferred to the crypto exchange Bitstamp.
Despite the market dip, the crypto market seems to be holding steady. Bitcoin is trading for $26,771, Ethereum is worth $1,813, and Polygon is trading for $0.862 at the time of writing.