Whales Abruptly Move $350,000,000 in Bitcoin, Ethereum, Solana, Litecoin and XRP – Here’s Where

The Daily Hodl

Whales Abruptly Move $350,000,000 in Bitcoin, Ethereum, Solana, Litecoin and XRP – Here’s Where the Crypto Is Headed
Daily Hodl Staff February 12, 2024

Wealthy crypto investors are moving hundreds of millions of dollars worth of digital assets, including Bitcoin (BTC) and Ethereum (ETH), as a new week begins.

According to the address tracker Whale Alert, crypto whales have abruptly shifted $350 million worth of virtual currencies in the last 36 hours.


Several gargantuan transactions involving Bitcoin and Ethereum are on Whale Alert’s radar.

All three transactions sent BTC from unknown wallets to crypto exchanges, where the crypto could potentially be sold on the open market.

2,756 BTC worth $132,922,200 transferred from an unknown wallet to crypto exchange Binance.
9,959 ETH worth $24,708,281 transferred from an unknown wallet to Binance.
25,658 ETH worth $64,177,123 transferred from an unknown wallet to the crypto exchange OKex.
Bitcoin is trading for $49,777 at time of writing, a 3% increase during the last day while ETH is worth $2,559 at time of writing, up 1.6% in the last 24 hours.

Other transactions noted by Whale Alert involve altcoins Solana (SOL), Litecoin (LTC) and XRP.

The XRP transactions appear to be connected to the crypto payments company Ripple.

Meanwhile, the Litecoin in question was moved off an exchange, and a multi million-dollar pile of Solana was sent to Binance.

99,999 SOL worth $10,511,803 transferred from an unknown wallet to Binance.
219,472 LTC worth $15,660,934 transferred from Binance to an unknown wallet.
100,000,000 XRP worth $52,584,019 transferred from an unknown wallet to Ripple.
80,000,000 XRP worth $42,057,144 transferred from Ripple to an unknown wallet.
27,300,000 XRP worth $14,444,647 transferred from one unknown wallet to another.
Solana, LTC and XRP are trading for $109, $0.53, and $0.082 at time of writing, respectively.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney

Rabbit Swap Introduces Innovative Cross-Chain Swap Solution
ChainWire February 12, 2024


Geneva, Switzerland

In the dynamic landscape of cryptocurrency transactions, Rabbit Swap introduces a novel swap approach aimed at enhancing the efficiency and potential benefits of cross-chain swaps for users.
At the heart of Rabbit Swap’s strategy is its commitment to managing a vast network of liquidity sources.

This approach not only guarantees the most competitive swap rates based on selected pairs and amounts but also eliminates swap limits altogether.

The main challenge for most crypto exchanges lies in finding and managing liquidity so that each time somebody wants to swap some asset, the exchanger should be able to buy it for another asset and preferably cover all possible amounts – from very small to very large.

Developers basically have three possible liquidity sources.

Maintaining its own or third-party centralized liquidity
Relying on traditional trading platforms’ APIs
Developing a decentralized algorithm that allows the community to provide their liquidity
Each method has its own pros and cons. Maintaining its own or third-party centralized liquidity involves developing an advanced AMM (Automated Market Maker) system.

Traditional trading platforms rely on a classic order book model, where buy and sell orders are matched based on price and time.

In contrast, AMMs automate the process, using algorithms to set prices in a liquidity pool, eliminating the need for order books.

This model facilitates continuous and automatic rebalancing of asset ratios, ensuring liquidity even in the absence of direct buyers and sellers.

Relying on traditional trading platforms’ APIs leads to compromises on the variety of available swap pairs.

While finding platforms that support mainstream pairs like BTC/USDT is straightforward, the real challenge comes with less common pairs such as SHIB/DOGE.

Creating a decentralized algorithm that enables community members to contribute their liquidity is an attractive approach.

It’s decentralized, driven by community engagement and offers mutual benefits.

However, the complexity lies in crafting an algorithm sophisticated enough to balance all assets securely and equitably.

A significant hurdle is incorporating highly volatile assets, as their inherent unpredictability makes it difficult to offset volatility with swapping fees alone.

To address every possible need, ensure limitless swaps and maintain the most competitive rates, the Rabbit team has designed a solution that combines various methods into one seamless and user-friendly service.

By inputting a swap pair and amount, Rabbit Swap instantly calculates the best option for the swap, similar to how Google Maps determines the most efficient route.

It selects the ideal liquidity source for each specific swap, guaranteeing users the best rates available at the time.

Although the project is currently in an early stage, offering around 50 assets for swapping, it will add over 3,000 assets in the coming weeks.

About Rabbit.io
Rabbit.io – the developer of the open-source, self-custodial Rabbit Wallet – advocates for reducing reliance on centralized exchanges and traditional financial systems.

Through Rabbit Swap, Rabbit.io is committed to facilitating seamless integration between the evolving cryptocurrency sector and established financial practices.

This initiative allows users to conduct transactions, including purchases, sales and swaps of cryptocurrency, with full control retained within secure, self-custodial wallets, marking a step towards a more open and decentralized financial future.

Contact
Yar, Rabbit.io

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


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