Shiba Inu (SHIB) and XRP Whales Abruptly Move Over $116,000,000 Worth of Crypto Assets Over the Weekend

Wealthy Shiba Inu (SHIB) and XRP holders were active this weekend, mysteriously shuffling tens of millions of dollars worth of crypto assets.

On-chain data, first reported by blockchain tracking service Whale Alert, shows that cryptocurrency whales forwarded 3.35 trillion SHIB tokens between two wallets of unknown origin.

At the time of the whale transfer, the transaction was worth $28.18 million and the entity paid 0.000894 Ethereum (ETH) in fees, or approximately $1.12.

Last week, Whale Alert tracked a similar transaction in which another wallet sent 3.37 trillion SHIB worth $28.7 million at the time to another unknown address.

The SHIB transfer comes as the ecosystem gears up for Sibarium, the long-awaited Layer 2 blockchain of the Shiba Inu Network.

The Layer 2 blockchain is a scaling solution to deal with the low transaction speeds of Shiba Inu’s hosted chain Ethereum. Sibarium recently selected Bone ShibaSwap (BONE) as a utility token to use for blockchain transaction fees and other activities. BONE also allows users to vote on future suggestions.

Also in action over the weekend was the XRP whale. According to Whale Alert, 263.89 million XRP forwarded Between two unknown wallets. At the time of the transaction, XRP assets were worth over $88.88 million.According to his Bithomp on blockchain tracker, whales are paid The XRP Ledger (XRPL) has a fee of 20 XRP, or about $7.

Whale Alert also uncovered large transactions involving blockchain scaling solution Polygon (MATIC). Two transactions involve a wallet of unknown origin sending MATIC to a major cryptocurrency exchange, and one transaction is between a Polygon smart contract and an unknown wallet.

At the time of writing, Shiba Inu is trading at $0.00000857, XRP at $0.349 and Porygon at $0.856.

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