On Sunday, Whale Alert reported that 330 million XRP tokens were transferred from an unknown wallet to the enterprise blockchain company Ripple. This was followed by another batch of 170 million tokens.
After this, 670 million XRP tokens were locked in escrow, which typically happens on the first day of the month. These are the tokens from Ripple's own XRP holdings. The automatic release of 1 billion tokens, which used to take place on the first day of every month, is likely to happen later this week. In March, Ripple created new escrows from its existing XRP instead of the monthly release for the first time.
Finally, a total of 130 million XRP tokens were then transferred from Ripple to unknown wallets within three separate transactions.
XRP turns 13
The recent transactions have coincided with XRP celebrating its 13th birthday.
On June 2, 2012, Ripple co-founder Arthur Britto submitted lines of code that created 100 billion XRP tokens. Britto started working in tandem with David Schwartz and Jed McCaleb in 2011.
As of now, XRP remains the fourth-biggest cryptocurrency with a market capitalization of $127 billion.
It is one of the very few O.G. altcoins that have managed to remain at the top throughout all these years.
After Ripple emerged victorious against the SEC, XRP experienced a massive rally in the fourth quarter of the year, solidifying its top 10 position.
Ripple is not sitting on a massive XRP fortune that could be potentially used for making more acquisitions, according to Bitwise.
U.Today Editorial Team
Vladislav Sopov