0
📰 News
1035 views

Massive Transaction of 1 Bln XLM Spotted After IBM Announced World Wire Launch

  • Yuri Molchan
    📰 News

    Recently, IBM announced the launch of its Stellar-based payment system World Wire; later on reports came on Twitter regarding massive XLM transactions. These transfers total 1 mln XLM each.

Massive Transaction of 1 Bln XLM Spotted After IBM Announced World Wire Launch
Contents

A crypto enthusiast, Whale Alert, has published some data on his Twitter account that shows several big XLM transfers – from 1 mln XLM – this took place after the global announcement that IBM is launching its Stellar-powered payment system and getting six global banks to use it with XLM as the bridge currency.

Huge amounts of XLM transferred

In his tweet, Whale Alert writes that the first transaction totalled 1 bln XLM and was sent to an unidentified wallet on Wednesday, March 20. The second payment was made from the GDKI wallet to GDQP and was conducted by the latter.

This second transaction carried slightly over 1 bln XLM too and occurred virtually a few minutes after the first one.

Both transfers carried around $111-mln worth in XLM. The Stellar site claims that the GDKI wallet platform is the biggest XLM holder, storing over 43 bln XLM.

👉MUST READ

Bitcoin Cash Price Prediction: $300 in a Few Weeks? The BCH Rocket-Speed Rally Has Just Begun!

Bitcoin Cash Price Prediction: $300 in a Few Weeks? The BCH Rocket-Speed Rally Has Just Begun!

A Coinbase wallet involved

The wallet that received the first XLM transfer is located on the Coinbase exchange and at present it holds 39.9999 XLM. The wallet from where the transfer was made, GDKI, was made in early August 2016. Back then its XLM balance totalled over 47 bln Stellar tokens but has diminished since then.

XLM vs. XRP

The Stellar community has been so intrigued that it began suggesting various theories regarding the transfers.

Massive Transaction of 1 Bln XLM Spotted After IBM Announced World Wire Launch

Stellar is a direct rival of Ripple and its XRP, so this move made by the global giant IBM and crypto heavyweight Stellar Lumens has got many crypto fans curious about which will finally get a massive adoption earlier: XLM or XRP.

👉MUST READ

#XRPArmy Attacks Twitter – Ripple Waiting to Sell 60% XRP When Price Skyrockets: Research

#XRPArmy Attacks Twitter – Ripple Waiting to Sell 60% XRP When Price Skyrockets: Research

XLM market stance

At press time, XLM is holding on to position #8 of the top-ten list. The coin is going for $0.1118. At the moment, Stellar is the only coin that is showing a drop among the top ten assets.

Massive Transaction of 1 Bln XLM Spotted After IBM Announced World Wire Launch

Cover image via u.today
Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings