Saturday, August 13, 2022
Home Crypto News Market Ripple Moves 100M XRP, In Total 224M XRP Moved Around Exchanges and...

Ripple Moves 100M XRP, In Total 224M XRP Moved Around Exchanges and Unknown Wallets in 24 Hours

- Advertisement -
Follow-Us-On-Google-News

Another set of XRP whale transactions has been recorded over the last 24 hours.  



Large movements of Ripple (XRP) between exchanges and unknown wallets have recently been recorded. Over the last 24 hours, a total of 224,877,206 XRP (224.87 million XRP coins) have flowed between cryptocurrency exchanges and unknown wallets and vice versa. 

Breakdown of the XRP Transactions

According to cryptocurrency whale data tracking service Whale Alert, the first transaction saw 80 million XRP coins worth around $30 million transferred from FTX exchange to an unknown wallet. 

Whale Alert reported that 40 million XRP coins, valued at $14.85 million, were moved from an unknown wallet to the Bitstamp cryptocurrency exchange. 

A few hours later, 44,877,206 XRP coins ($16.62 million) were transferred from the Bitstamp exchange to a different unknown wallet. 

Furthermore, Whale Alert shared transaction details of another large XRP movement that flowed from an unknown wallet to the Bitso exchange. 

Seeing large amounts of XRP flow between exchanges and unknown wallets is gradually becoming a daily routine. As reported by TheCryptoBasic, hundreds of millions of XRP tokens have been transferred from exchanges to unknown wallets and vice versa this week. 

Ripple Transfers 100 Million XRP to Unknown Wallet

Interestingly, the popular Silicon Valley tech company Ripple itself was also involved in the large flows of XRP coins. Whale Alert noted that the blockchain company transferred 100 million XRP ($37.18 million) to an unknown wallet. 

The transaction made by Ripple came a few days after the company unlocked 1 billion XRP from its escrow wallet. The move is part of the company’s monthly XRP unlock the program. 

In its bid to keep the price of XRP stable, Ripple locked back over 700 million XRP coins, while the remaining coins would be used to cater to the company’s daily expenses. 

It will not be surprising to know that the 100 million XRP moved by Ripple to an unknown wallet yesterday are part of the remaining unlocked coins. 

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jimaa
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

IOG Says “Getting Things Right” Is The Priority After Cardano Investor Asked When Vasil Will Launch

  IOG has responded to ADA investors who are eager to know the exact date for the launch of the Vasil hard fork.  Input Output Global...

The Deputy Minister Of Digital Transformation Says Ukraine Should Launch A CBDC

Alex Bornyakov is in support of a digital hryvnia. In a four-tweet thread on Friday, Ukraine's Deputy Minister Of Digital Transformation, Alex Bornyakov, argues that...

Shiba Inu Lead Developer Gets A Harsh Response From “Can You Pet The Dog”

  "Can You Pet The Dog" Shuns Shiba Inu Game, Shiba Eternity As It Wants Nothing To Do With Crypto Projects. ...

Shiba Inu And BONE Becomes Top Trending Coins in Asia, USA, and Canada

Shiba Inu and Bone are trending worldwide. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

NOWNodes Adds Support for Shiba Inu Burn Portal Reward Token Ryoshi Vision (RYOSHI)

  The listing of RYOSHI will enable developers to build on Ryoshi Vision via NOWNode's platform. window.coinzilla_display =...

71,225 XRP Holders Now Stand With Ripple Against SEC, Deaton Says All XRP Investors Are Leaders Of XRPArmy

  The Amici attorney has commended XRP investors for their collaboration toward Ripple’s legal battle against the SEC.  ...

One Year After Burning Mechanism Launched, 2.5 Million Ethereum Worth $5B Burnt, Is ETH Becoming Deflationary?

  About 2.1% of Ethereum's circulating supply has been burned since the London hard fork. window.coinzilla_display = window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.