Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Whale Alert tracking bot has spotted several large transfers of Ripple-affiliated XRP token conducted over the past 24 hours, totalling more than half a billion coins. The single largest lumps transferred here totalled 120 million XRP each.
One of those 120 million chunks was moved from the FTX exchange.
530 million XRP shoveled
The above-mentioned platform that tracks large cryptocurrency transfers has detected nine massive transactions of XRP made between crypto exchanges and, from them, to anonymous wallets.
A total 120,000,000 XRP were shifted from the FTX exchange to an address marked by Whale Alert as unknown. A similar amount of coins was moved internally within South Korean exchange Bithumb.
The rest of the transfers ranged between 50,000,000 and 40 million XRP. The tracker counted five transfers of 50 million and two of roughly 40 million XRP tokens conducted by such trading platforms as Binance, Bitso, Bittrex, BitGo, etc.
? ? ? ? ? 120,000,000 #XRP (51,367,300 USD) transferred from #FTX to unknown wallethttps://t.co/eliYznjRDF
— Whale Alert (@whale_alert) May 16, 2022
XRP adoption expands to Japan and Africa
As covered by U.Today earlier, SBI Motor Japan, a subsidiary of financial heavyweight SBI Group based in Japan, has started to accept payments in the two top cryptocurrencies: Bitcoin and XRP.
Crypto payments will be arranged and settled via another subsidiary of SBI Group—SBI VC Trade, a crypto trading platform. SBI Motor Japan operates in the South African region and is focused on expansion there.
The aforementioned Japanese financial giant, who is also a major Ripple partner, stated in a recent report that crypto adoption in South Africa is growing at a fast clip.
As of this writing, XRP is trading at $0.4318, per CoinMarketCap. The sixth largest crypto has demonstrated growth by 2.51% over the past 24 hours.
Alex Dovbnya
Gamza Khanzadaev
