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166.2 Mln XRP Sent with Ripple and Ripple-Related Addresses Involved

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Fri, 06/12/2020 - 13:46
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Yuri Molchan
XRPL Monitor has noticed a giant stash of 166.2 mln XRP that was moved via the help of Ripple, its EU ODL corridor and a Ripple-related wallet
166.2 Mln XRP Sent with Ripple and Ripple-Related Addresses Involved
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According to analytical data shared by the XRPL Monitor, Ripple along with its partners and the major South Korean exchange Bithumb have wired 166.2 mln XRP, totaling $32,533,317.

Ripple and Co transfer 30.2 mln XRP

The XRPL Monitor account that watches transactions on the XRP Ledger has noticed several lump stashes of XRP moved over the past day.

20 mln was moved by the RL18-VN wallet, which is allegedly related to Ripple and could be one of its XRP escrow addresses.

One of the 10-mln XRP sums was sent to Bitstamp, a Luxembourg exchange hosting Ripple’s European ODL corridor.

Ripple sent five million XRP in-house and Bitstamp also moved 5.2 mln between its wallets, according to the data provided by the Bithomp analytics website.

129 mln XRP wired by Bithumb and anon wallets

The major South Korean exchange Bithumb moved 46 mln XRP ($9,004,408) between its wallets.

83 mln XRP was sent from an anonymous address, with 30 mln going to a wallet activated by Ripple.

Related
New Transaction With $539K Fee Spotted on Ethereum Blockchain. Hack or Money Laundering?

Ripple on track to start new ODL corridors

As reported by U.Today, Ripple’s top executive Asheesh Birla published an article on Ripple's ODL product and the role it is playing in the modern crisis-affected world.

He wrote in the article that in the current times of economic recession triggered by the pandemic and the continuous QE by the Fed Reserve, high speed and low fees on transnational payments are very important.

The self-isolation that has continued in many parts of the world makes these qualities crucial as family members working abroad need to send money back home.

With this in mind, Birla shared the news that later this year Ripple intends on setting up more ODL corridors this year.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.