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The crypto community is abuzz as the prominent blockchain tracker Whale Alert shared the details of a transaction that moved a whopping 131,000,000 XRP anonymously. Still, additional on-chain data helped to shed light on the identity of the recipient.
Whale Alert is widely known in the crypto space for monitoring large cryptocurrency transactions and sharing the details on its X account and website.
This transaction coincided with a decline of 5.37% experienced by XRP over the past day.
131,000,000 XRP on move, recipient unveiled
The aforementioned data source reported that two unknown wallets had exchanged a massive amount of crypto – 131,000,000 XRP. At the time of the transfer, this XRP chunk was valued at $273,945,648.
The XRP community became intrigued by this massive transaction between anonymous wallets and began to guess as to the likely purpose of this transfer. Many assumed it was a large over-the-counter sell. One X user, however, stated that this was allegedly a transaction made between wallets affiliated with the Binance crypto exchange.
Still, the details of the transaction provided by XRP-focused data platform Bithomp show that the receiving wallet indeed is linked to Binance, while the owner of the sending wallet was not identified.
Earlier this week, Whale Alert spotted two other large XRP transfers. On April 14, an anonymous wallet exchanged 70,000,000 XRP worth $150,361,090. The community believes it was an internal Ripple transfer linked to its Ripple Payments system.
On the following day, an unknown whale shoveled 29,532,534 XRP to the largest cryptocurrency in the U.S. – Coinbase. However, according to Bithomp, it was an internal Coinbase transaction.
Yuri MolchanRipple integrates RLUSD into Ripple Payments
Earlier this week, Ripple cryptocurrency giant reported that its most recent product, dollar-pegged stablecoin RLUSD, has been fully integrated into the Ripple Payments network. The stablecoin was issued after the company secured the necessary licenses and regulatory permissions. It is 100% backed by deposits in U.S. dollars, government bonds or other cash equivalents. The leading independent accounting and consulting company BPM conducts RLUSD audits on a monthly basis.
As Ripple said in a blog post, Ripple Payments has already processed a transaction volume of more than $70 billion across more than 90 payout markets. RLUSD is becoming popular because it is focused on compliance, transparency and security.
Vladislav Sopov
Dan Burgin