Thanks to the blockchain, looking over big transactions is something that has been made rather easy. There are several hobbies that people have such as fishing, bird watching and in the crypto space, whale watching is starting to become an industry of its own with hundreds of accounts cropping up on social media for the sole purpose of crypto whale watching.
Crypto whales are called as such because they move large volumes of value which can impact the markets in a big way with people wanting this information as quickly as possible. In addition to this, there is a certain element of mystery and wonder to crypto whales which adds onto the intrigue. In most cases, if the identities of the whales don’t get revealed straight away, enthusiasts and investors alike, speculate wild theories on who they could be.
Whale Alert is a live tracker that uses Twitter to tweet big time crypto transactions to and from wallets and exchanges. On their Twitter account, they use the red light emoji to convey how big the whale is. i.e, the more red light emojis, the bigger the whale.
Recently there have been a couple of hundred million dollars worth of XRP which sent the account tweeting out ten red lights to their followers. You can see the tweets below:
At the start of the year, it was found that XRP was to be moving in similar big amounts with more than $409 million worth of XRP transferred to another account for the cost of 0.005 XRP. Even though the mass amount was moved in such a short for such a cheap price, there are many enthusiasts that are still wondering why so much XRP is being moved. Ripple owns 60 percent of the supply of XRP so when big amounts of the digital asset are on the move, questions surface, as well as speculation.
The cryptocurrency space is known for its enthusiasts to start questioning things they don’t fully understand as well as the nature of any given asset. In this case, they make comparisons to the more decentralised Bitcoin.
When all is visible on the public blockchain, the movement of money will be an increasingly bigger topic.