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425 Million XRP Moved by Coinbase and Anon Holder While XRP Pushed Back to Top 6 Spot

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Tue, 02/16/2021 - 10:17
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Yuri Molchan
Recent data published by Whale Alert: over the past 20 hours, Coinbase crypto giant and an anonymous crypto whale have shifted a whopping 425 million XRP tokens
425 Million XRP Moved by Coinbase and Anon Holder While XRP Pushed Back to Top 6 Spot
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According to the popular crypto tracking service Whale Alert, in the past 20 hours, San Francisco-based crypto exchange Coinbase, an anonymous crypto whale and a few other trading platforms have shifted a staggering 425 million XRP coins.

In fiat currency, this amount represents $237,086,599. Meanwhile, XRP has again been pushed back to position six on the CoinMarketCap scale.

Over $237 million in XRP moved by major crypto market players

Whale Alert detected four transactions, carrying a total of 425 million XRP. The largest two were made by the largest U.S.-based digital currency exchange, Coinbase.

It has moved 220.3 million XRP between its wallets and sent 178.9 million XRP to an anonymous address. Details have been provided by the Bithomp website that deals with XRP analytics.

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Image via Twitter

The other two wires were performed by the OKEx and Kraken exchanges. They transacted 10 million and 16 million XRP.

Related
Ripple and SEC Don't Believe There's Prospect for Settlement at This Time

Jed McCaleb keeps selling his XRP holdings

As reported by U.Today over the weekend, Jed McCaleb, the IT engineer who helped found Ripple Labs and was the company's first CTO, has sent 76 million XRP coins from his "tacostand" address to be sold, with over 404 million remaining on the wallet's balance.

Prior to that, he released another 40 million XRP for sale. According to XRP researcher Leonidas Hadjiloizou, Jed has 2.896 billion XRP left, and that stash could be sold by the end of the year.

At press time, XRP is the sixth-ranked cryptocurrency and is sitting at $0.5588.

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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.