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110 Million XRP Transferred by Ripple and Top Asian Crypto Platforms

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Fri, 23/07/2021 - 8:46
110 Million XRP Transferred by Ripple and Top Asian Crypto Platforms
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As reported by blockchain tracker Whale Alert, over the past 16 hours, Ripple distributed ledger tech provider and the two largest crypto exchanges have shifted an astounding 110 million XRP coins.

Half of that amount was moved by the Ripple DLT giant.

110 million XRP transferred by Ripple, Binance and Houbi

According to tweets posted by Whale Alert crypto tracking firm, Ripple, the largest exchange in China (Huobi) and Binance have moved 110 million XRP in two transactions.

That is the equivalent of $65,105,100 in fiat.

Huobi has shifted 50 million XRP to Binance. In an earlier transaction, Ripple moved 60 million to its RL18-VN wallet. This address is usually used to send XRP outside of Ripple, to crypto exchanges, financial institutions and banks that work in partnership with Ripple, and custody wallets as well.

Ripple continues sending XRP to Huobi

As reported by U.Today previously, the San Francisco-based blockchain decacorn keeps sending XRP to Huobi. The last XRP amount allocated to that was 150 million XRP on May 28.

Since then, Ripple has been sending daily tranches to Huobi, changing that amount each week: 6.6 million XRP, 5.3 million XRP, 3.3 million XRP, etc.

Since July 18, Ripple's RL18-VN wallet has been transferring 1,781,675 XRP to Huobi on a daily basis.

Related

Visa and Mastercard make a foray into crypto via RippleNet clients

On Thursday, U.Today covered that global payments behemoth Visa has announced its determination to acquire RippleNet client Currencycloud, a platform that provides cutting-edge solutions to help banks and fintechs improve cross-border payments.

Currencycloud runs on RippleNet and operates in over 180 countries with more than 500 customers.

This year, both Visa and Mastercard have been making forays into the crypto sphere. Visa had announced that it wanted to build its own ecosystem to use cryptocurrencies. Besides, recently U.Today reported that the payments card giant partnered with Ripple client Nium and Hong Kong payments app Fuiou Pay.

Mastercard has enhanced its card program for crypto wallets and digital exchanges. By partnering with Circle, Paxos, BitPay, Uphold and other companies from the crypto industry, Mastercard intends to introduce a direct crypto-to-fiat exchange using the second largest USD-pegged stablecoin, USDC.

Also, Ripple has recently hired a former high profile executive from Mastercard to lead its expansion in Europe. Sendi Young was invited to join Ripple as managing director of European operations.

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