The blockchain services provider for ripple, according to Whale Alert tracker, made a massive transfer of 100 million XRP to a “anonymous” wallet about 12 hours ago, according to the cryptocurrency tracker.
This followed the company’s astonishing two-day withdrawal from escrow of a billion XRP coins. In the meantime, whales have shifted a close to 300 million XRP over the past two days.
As their activity has escalated over the previous month, these two days saw whales move enormous quantities of Ripple-affiliated cryptocurrency. Ripple’s transaction was seen among them as well.
100 million XRP are transferred by Ripple to this location
100 million XRP were reported to have left XRP’s wallet and were headed to a “unknown” address by Whale Alert. RL18-VN is an address that XRP routinely uses to transfer money outside of the corporation, according to Bithomp’s on-chain wallet tracker for XRP, which reveals where this portion of cryptocurrency went.
Previously, cryptocurrency was sent from this wallet to exchanges, institutional clients, and charitable organizations.
On September 1, it regularly released one billion XRP from escrow. This time, though, 300 million tokens were held aside to be added to the circulating supply later and 700 million tokens were locked back into escrow on the same day.
That liberated cryptocurrency is probably going to include the 100 million XRP indicated above.
Ripple and whales move 290 million XRP
Along with reporting on Ripple’s transactions, Whale Alert also discovered a number of sizable transfers totaling over 290 million XRP. 60,000,000 and 50,000,000 XRP were transferred from the Bittrex platform to the Bitso and Bitstamp markets in Mexico.
Additionally, Bitso transferred 101.8 million XRP across its internal addresses. This exchange manages one of Ripple’s liquidity corridors based on the ODL (On-Demand Liquidity) technology, therefore it frequently executes XRP-related transactions by selling, transmitting, or receiving it internally or to other exchanges. For its part, Ripple transmitted 30,000,000 XRP tokens to one of its ODL platforms, the Bitstamp exchange.
The aforementioned RL18-VN wallet was used for the transfer.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
