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Huobi Moves 515 Million XRP, While Ripple Sends 900 Million XRP to Escrow

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Wed, 06/02/2021 - 08:20
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Yuri Molchan
Chinese exchange Huobi has shifted half a billion XRP, while Ripple fintech giant returned 900 million XRP to escrow and keeps sending XRP to Huobi daily
Huobi Moves 515 Million XRP, While Ripple Sends 900 Million XRP to Escrow
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DLT data tracking service Whale Alert has tweeted that Chinese crypto behemoth Huobi has transferred a whopping half a billion XRP.

Meanwhile, Ripple, the company directly associated with the coin, has locked almost a billion XRP back in escrow after releasing it from there.

515 million XRP on the move from Huobi

Whale Alert has published the details of two transfers, in which almost $530 million were shifted by the biggest Chinese crypto trader.

A total of 490 million XRP was moved by Huobi between its wallets. Prior to that, the platform sent 25 million XRP to the Binance exchange.

The total worth of both transactions in fiat currency constitutes $528,911,442.

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Image via Twitter

Ripple continues transferring XRP to Huobi

Daily XRP transfers from Ripple to Huobi continue. Data shared by the Bithomp analytics service shows that, since May 5, the fintech giant has been sending 6,679,600 coins.

Thus, in the past four days, Ripple has shifted 26.8 million XRP to this venue. During the previous week, the daily amount of XRP sent to Houbi by the company run by Brad Garlinghouse totaled 4,195,300 XRP.

Related
Ripple Giant Kicks Out Yet Another Billion XRP, While Coin Trades Above $1

900 million goes back to Ripple escrow

After withdrawing a staggering billion XRP from escrow on June 1, today, Ripple sent 900 million from that amount back into escrow.

One hundred million coins remain in Ripple's wallet for further use.

At press time, XRP is ranked seventh on CoinMarketCap and is changing hands at $1.02 per token.

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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.