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516 Million Moved by Ripple and Top-Tier Platforms

Fri, 08/05/2022 - 14:13
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Yuri Molchan
Half billion XRP moved by Ripple and top exchanges; some of these chunks exceeded 200 and 134 million coins
516 Million Moved by Ripple and Top-Tier Platforms
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Large amounts of XRP keep getting moved on the market in large lumps, according to Whale Alert crypto service that tracks large crypto transactions between wallets.

This time, more than half a billion XRP were shifted with Ripple among the sending parties.

516 million XRP on move, Ripple sends XRP to ODL

Whale Alert spotted several consecutive transactions, carrying from 30 million to 200 million of Ripple-affiliated XRP tokens. The transfers were conducted over the past 24 hours.

Data from XRP-focused Bithomp platform shows that fintech giant Ripple sent 30,000,000 XRP to Mexico-based crypto unicorn Bitso. This exchange is the largest in the Latin American market and received an undisclosed investment from Ripple in the fall of 2019. Since then, it has been Ripple's liquidity corridor supporting its On-Demand Liquidity (ODL) service.

The largest amount among the aforementioned transfers was moved by South Korean Bithumb exchange internally — a staggering 200 million XRP.

The second biggest amount of XRP — 134,750,000 tokens — was shifted by Binance exchange to Bittrex.

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Image via Twitter

Related
Hundreds of Millions of XRP Transactions Pop Again as Ripple Address Raises Stakes

Ripple and major crypto exchange BitGo — which also provides custodial services for financial institutions — sent a total of 40,000,000 XRP to the Bitstamp exchange based in the EU.

Over the past couple of days, XRP transaction activity has been quite high as over 100 million XRP have been moved, according to Whale Alert tweets.

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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.