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75.4 Million XRP Moved by Ripple and Binance, With Ripple's Regular Tranche to Huobi

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Wed, 05/12/2021 - 16:05
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Yuri Molchan
Fintech decacorn Ripple has moved a whopping 75.5 million XRP tokens along with Binance and one more leading crypto exchange
75.4 Million XRP Moved by Ripple and Binance, With Ripple's Regular Tranche to Huobi
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Ripple blockchain behemoth has again been noticed moving XRP to Huobi, while leading crypto exchanges have also moved large amounts of this SEC-battered token.

Ripple moves $106.3 million in XRP with major exchanges

Whale Alert blockchain service that tracks the movement of large amounts of cryptocurrencies has detected around a dozen transactions in which 75.5 million XRP tokens were moved by Ripple Labs, Binance, Kraken and other, smaller crypto exchanges.

Ripple has made its daily transfer to the largest Chinese crypto exchange, Huobi: 5,472,400. This is the amount the crypto heavyweight will be sending to Huobi every day this week.

Last week, the daily amount of XRP moved from Ripple to Huobi totaled 7,066,450, according to blockchain analytics company Bithomp. The transfers are made via Ripple's RL18-VN wallet.

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Image via Bithomp

Related
Ripple Releases 100 Million XRP, Here’s Why It May Be Sent to Huobi

Supporting XRP liquidity in China

Ripple usually provides crypto exchanges with XRP to support the coin's liquidity on global markets. Its regular XRP tranches to the leading Chinese exchange suggest that the DLT giant may be ensuring XRP liquidity in China.

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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.