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HomeNewsBitcoin Halving Jitters: Ethereum Whales Enter Accumulation Mode, XRP Whales Make Their...

Bitcoin Halving Jitters: Ethereum Whales Enter Accumulation Mode, XRP Whales Make Their Move

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Ripple (XRP) surprisingly released 500 million XRP tokens from escrow, triggering the XRP army, as an Ethereum (ETH) whale recently sprung into action by going on a buying rampage. Both actions came as a preparation for the fourth Bitcoin halving event. 

The Bitcoin halving, which eventually occurred on April 19, is often associated with a bullish season for that crypto market by crypto community members, as past cycles show. These whales no doubt share the same sentiment, and that is why they decided to make their move at this opportune time to make massive profits. 

Ethereum Whale Goes On Buying Spree As Bitcoin Halving Concludes

Spot On Chain, a blockchain analytic platform, reported the actions of an Ethereum whale on its X (formerly Twitter) page in the early hours of April 19, 2024. The anonymous whale, despite current market conditions affecting Ethereum (ETH) and other cryptocurrencies, has purchased 41,358 ETH over the past five days with varying prices. The stash was valued at $128 million, and this purchase has taken the whale’s total Ethereum (ETH) holdings to 117,268 tokens, which, if sold at current prices, will mean a $20 million loss for the risk-tolerant whale. 

However, the whale undoubtedly is optimistic, like all other investors hoarding ETH, that with the just concluded Bitcoin halving, there would soon be a rebound in prices.  Ethereum (ETH) would cross its all-time high and even surpass it, wiping clean all the losses they incurred in purchasing the token. 

Currently, Ethereum (ETH) continues to hover around the $3,000 mark and ranks 2nd in the crypto market, according to data from Coinmarketcap. 

Ripple (XRP) Stuns Crypto Community By Unlocking 500 Million XRP Tokens From Escrow 

According to blockchain tracking platform Whale Alert, Ripple (XRP), which facilitates cross-border payment services, released 500 million XRP tokens from its escrow. Whale Alert made this known on its X (formerly Twitter) page on April 12, 2024. 

The XRP tokens were released in two separate transactions. First, 200 million tokens worth over $122 million at the time of transfer were unlocked.  Some minutes later, the second transaction was initiated, and 300 million XRP tokens valued at $183.89 million were released. This brings the total number of tokens to 500 million, worth over $300 million. 

These massive unlocks have stirred discussion among the crypto community as Ripple (XRP) has always done unlocks at the beginning of each month, not the middle. Also, some fear that such a huge release of XRP could mean a potential sell-off, which would drive its price down. Currently, XRP ranks 7th in the crypto market and trades at $0.517, according to data from Coinmarketcap

ETFSwap (ETFS) Prepares To Ride The Post Halving Rally

ETFswap (ETFS) is a blockchain project whose mission is to tokenize exchange-traded funds (ETFS) to bridge the gap between DeFi and Trade-fi. By tokenizing ETFs, ETFswap (ETFS) will introduce elements of traditional finance to a broader part of the crypto community members, giving them opportunities to invest in various assets. 

To use the platform, traders interested in dabbling in tokenized ETFs will need to hold ETFS tokens, which powers the entire ecosystem. It will serve as the key to accessing the platform features and functionalities, and it will empower holders to have a say in the making of decisions that affect the platform’s growth through voting. 

Currently, the only way to purchase ETFS is to get it in the ongoing stage 1 presale, where ETFswap (ETFS) sells it to investors at a low price of $0.00854. Aside from getting the opportunity to trade tokenized ETFs, investors who buy at stage 1 will make an automatic profit when stage 2 kicks off at $0.01831. 

Also, early investors increase their chances of making the best use of the 10,000% surge in price, which experts speculate will soon take the token price to the $1 mark. An opportunity to trade in a variety of assets and also to make automatic yield has brought in crowds of investors eager to lay their hands on this undervalued asset. 

This fear of missing out (FOMO) has brought about the sale of over 23.6 million tokens; you can be among this crowd of investors if you buy ETFS today at the presale. 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

 

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John Kiguru
John Kiguru
John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@ethnews.com Phone: +49 160 92211628
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