Main navigation

Almost 100 Million XRP Sent to Coinbase by Anonymous User

News
Tue, 01/26/2021 - 10:19
article image
Yuri Molchan
Whale Alert spreads the word that an anonymous whale has wired a whopping 99.9 million XRP to one of the largest exchanges, Coinbase, which recently delisted XRP
Almost 100 Million XRP Sent to Coinbase by Anonymous User
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Earlier today, popular crypto tracking service Whale Alert detected a mammoth XRP transaction: almost 100 million XRP.

Almost $27 million in XRP wired to Coinbase

The anonymous crypto whale has transferred a staggering 99.9 million XRP to the largest U.S.-based exchange, Coinbase. That is the crypto equivalent of $26,766,003 in fiat at the present XRP exchange rate.

XRP
Image via Twitter

However, data provided by analytics website Bithomp reveals that this was an internal transaction made between Coinbase wallets.

On Dec. 30, 2020, it was reported that Coinbase was sued by the SEC for permitting "illegal" XRP sales and charging trading commission fees from those sales.

Prior to that, the U.S. security and exchange regulator initiated an official legal complaint against Ripple itself and its two high-profile executives, CEO Brad Garlinghouse and former CEO and cofounder Chris Larsen, for selling XRP as an unregistered security.

Ripple has hired 21 lawyers to protect its interests and the interests of its two CEOs in court.

Related
Ripple Client Deloitte Partners with SAP Hong Kong to Help Businesses Trade in Current Complex Environment

RippleNet records $2.4 billion worth of transactions

As reported by U.Today earlier, Ripple's ODL solution for quick and low-cost funds transfers has reported $2.4 billion worth of crypto transactions in 2020.

The amount of XRP transfers made via ODL by financial institutions totaled a whopping three million.

According to RippleNet GM Asheesh Birla, ODL meets the greatest demand in the Asia-Pacific region at the moment. Mr. Birla also expects two ODL corridors, between the Middle East and North Africa and India, to remain the most active in 2021.

Aside from that, this year, RippleNet will expand beyond the field of remittances and into B2B transactions and e-commerce payments.

article image
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.