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270 Million XRP Shifted by Top Crypto Exchanges As Ripple Keeps Moving XRP to China

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Thu, 06/10/2021 - 11:58
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Yuri Molchan
Recent analytics data shows that major exchanges have transferred 270 million XRP while Ripple keeps sending this cryptocurrency to the biggest Chinese trading venue
270 Million XRP Shifted by Top Crypto Exchanges As Ripple Keeps Moving XRP to China
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Data shared by Whale Alert crypto tracking service shows that over the past 20 hours, a mammoth sum of 270 million XRP has been wired by several major exchanges.

Meanwhile, the Ripple fintech monster continues its regular XRP transfers to Huobi, having slightly decreased its daily stashes.

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Image via Twitter

270 million XRP on the move

According to tweets shared by Whale Alert, over the past 20 hours, several top crypto trading venues have transferred a whopping 269.5 million XRP in three transactions.

That equals a staggering $239,232,115 in fiat.

Among the exchanges that have taken part in the transfers are Huobi, Binance, Coinbase and Bybit. The largest amount of crypto (175,434,574 XRP) was moved from Bybit to Binance.

Bitstamp wired 64.5 million XRP to Coinbase, and Huobi sent 30 million coins to Binance.

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Ripple sends another XRP stash to Huobi

The fintech decacorn continues sending its daily regular XRP portions to Huobi, the biggest crypto trader in China.

Since June 6, daily amounts of XRP sent to Huobi by the company have been 5,275,250 coins. Prior to that, Ripple sent 6,679,600 XRP to Huobi for a week.

Ripple has been doing this for several months already. No particular reasons for these transfers have been voiced yet.

At press time, the seventh largest cryptocurrency, XRP, has been trading at the $0.88 level, as per CoinMarketCap.

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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.