66 Million XRP Moved by Top Exchanges After Someone Pays $4,480 Fee for XRP Transfer

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Wed, 03/03/2021 - 11:36
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Yuri Molchan
66 million XRP tokens have been shifted by two major U.S.-based exchanges; meanwhile, someone paid $4,480 for an XRP transaction a few days ago
66 Million XRP Moved by Top Exchanges After Someone Pays $4,480 Fee for XRP Transfer
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Over the past 24 hours, two major crypto exchanges, Coinbase and Kraken, have transferred 66 million XRP (an equivalent of $29,634,895), as reported by Whale Alert.

In the meantime, a few days ago, a transaction fee of 10,000 tokens paid for an XRP transfer was recorded.

Top-tier U.S. exchanges wire $30 million in XRP

Whale Alert Twitter bot has detected several transfers carrying a total of 66 million XRP coins, which equals nearly 30 million USD.

Coinbase conducted the transfer between its wallets internally.

Related
Top Law Firm Sues MoneyGram Over XRP, Promises Compensation to Its Shareholders

10,000 XRP fee for a transaction spotted

The Flare Community Twitter account tweeted that a few days ago, someone paid a jaw-dropping fee of 10,000 XRP ($4,480 in fiat at today's exchange rate) for a transaction on the XRP Ledger.

This was the community's response to a tweet in which a user wrote about a 1.04 XRP fee spotted recently.

The Flare Community account added that fees on the XRP Ledger can be set programmatically, however. The reason for these high fees was not disclosed or explained.

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Jed McCaleb receives 627,974,493 XRP from Ripple

As reported by U.Today, on Tuesday, former CTO and cofounder of Ripple, Jed McCaleb, received another substantial lump of XRP in his "tacostand" wallet: almost 628 million XRP.

That is the equivalent of $277,683,138. On the same day, McCaleb sold 13 million XRP.

Crypto researcher Leonidas Hadjiloizou believes that McCaleb is going to sell 13 million XRP each day until Sunday this week on a DEX.

He also stated that, for the next several weeks, McCaleb's sales will range from eight to 18 million XRP. He did not name the source of this data, however.

The researcher also reckons that at this rate of selling XRP Jed will be out of his coins by the end of 2021.

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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.

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