Whale Alert, a cryptocurrency service that tracks significant crypto transactions between wallets, has seen that large sums of Ripple continue to be traded on the market in large chunks.
This time, Ripple was used to transfer among the sending parties more than half a billion XRP.
Ripple is moving 516 million XRP and sending it to ODL
A series of transactions holding between 30 million and 200 million XRP coins from Ripple were detected by Whale Alert. Over the last 24 hours, the transfers were carried out.
Data from the XRP-focused Bithomp platform reveals that Ripple, a major fintech company, sent Bitso, a crypto unicorn based in Mexico, 30,000,000 XRP. The biggest exchange in Latin America made an undisclosed investment in this company in the fall of 2019.
Since that time, it has served as Ripple’s On-Demand Liquidity (ODL) service’s liquidity corridor. The greatest transfer among the aforementioned transactions involved the startling 200 million XRP that was moved internally by the South Korean Bithumb exchange.
The Binance exchange transferred 134,750,000 tokens, the second-largest amount of XRP, to Bittrex.
A total of 40,000,000 XRP were transmitted to the EU-based Bitstamp exchange by Ripple and the popular cryptocurrency exchange BitGo, which also offers custodial services to financial institutions.
According to tweets from Whale Alert, there has been a lot of XRP transaction activity over the last couple of days. Over 100 million XRP have been transferred.
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