Ripple Shifts 20 Mln XRP, While Coinbase Pro Transfers 35.1 Mln XRP

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Mon, 08/31/2020 - 08:42
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Yuri Molchan
Ripple blockchain giant has made two major transactions, sending 10 mln XRP to Coinbase Pro with one of them, while Coinbase Pro itself wires over 35 mln XRP
Ripple Shifts 20 Mln XRP, While Coinbase Pro Transfers 35.1 Mln XRP
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XRPL Monitor watches as Ripple continues to shift gargantuan amounts of XRP to major exchanges; Coinbase Pro is among the most frequently chosen destinations.

Besides, Coinbase Pro has also transferred a jaw-dropping amount of XRPover 35 mln. As a reminder, Coinbase has a platform where its customers can wire funds across the world for free, using XRP and USDC stablecoin.

Ripple kicks 20 mln XRP over, Coinbase Pro gets half

XRPL Monitor has shared data about several major XRP transactions conducted over the past twenty-four hours. Among the senders was the blockchain decacorn Ripple.

The company made two transfers of 10 mln XRP each, totaling $5,615,431. Half of that amount was wired to the Coinbase Pro trading platform. The other half was transferred between Ripple's wallets.

Earlier, U.Today reported that Ripple also transferred whopping amounts of XRP, including to former CEO Chris Larsen.

XRP
Image via Twitter

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Coinbase Pro sends away 35.128

San Francisco-based trading heavyweight Coinbase Pro, led by Brian Armstrong, has been spotted making several transactions bearing from 7 mln to 9 mln XRP, sending 35.128 mln XRP in total.

The analytics website Bithomp's data has revealed that these transactions were made between Coinbase Pro internal accounts.

Coinbase runs wire transfer service in XRP

For a couple of years, Coinbase has been running a free cash transferring service for its customers. Curiously, the cryptocurrencies that are offered for that purpose are XRP and USDCthe stablecoin launched by Coinbase together with the London-based firm Circle.

XRP
Image via Coinbase

Since Aug. 27, the third largest coin, XRP, has been slowly recovering from a low of $0.25 and, at press time, XRP is changing hands at $0.2796.

XRP
Image via Coinbase
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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.