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.
Popular crypto platform WhaleAlert that tracks down large movements of cryptocurrencies has spotted several substantial transactions that carried nearly 767 million XRP tokens.
Two of these transfers carried more than an eye-popping 280 million XRP each.
Ripple sells 50 million XRP
Ripple fintech giant was spotted shifting 50,000,000 XRP worth $18,877,056. This chunk of crypto was sent to the company's alternative wallet, RL18-VN.
This address is used for converting XRP into fiat, as well as for moving XRP outside the company – to crypto exchanges and financial institutions who are among Ripple's clients.
Aside from that, RL18-VN is also used to send XRP to the company's liquidity corridors (ODL platforms).
🚨 50,000,000 #XRP (18,877,055 USD) transferred from Ripple to unknown wallethttps://t.co/s2SpoGikUB
— Whale Alert (@whale_alert) August 17, 2022
Alex Dovbnya716.7 million XRP shifted by major exchanges
The rest of the aforementioned gigantic amount of XRP was wired between several large global crypto exchanges – Bittrex, Bitstamp, BitGo and Bitso.
Two massive single lumps of XRP were sent between anonymous wallets. One of them carried 286,122,720 XRP, and the other one moved 279,622,820 worth $106,641,340 and $105,723,950, respectively.
The total amount of XRP transferred is equal to $180,770,321.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 279,622,811 #XRP (105,723,951 USD) transferred from unknown wallet to unknown wallethttps://t.co/e4zxzyfP6C
— Whale Alert (@whale_alert) August 18, 2022
Dan Burgin
Tomiwabold Olajide