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Ripple Shifts Juicy Lump to Its OTC Distribution Wallet—Big Part of 74.6 Mln XRP

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Fri, 09/25/2020 - 10:11
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Yuri Molchan
Ripple decacorn has been spotted wiring millions again—74.6 mln XRP; one third of this amount was transferred to its OTC distribution wallet, Whale Alert specifies
Ripple Shifts Juicy Lump to Its OTC Distribution Wallet—Big Part of 74.6 Mln XRP
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XRPL Monitor tracker has spotted several large XRP lumps sent over the past twenty-four hours, with Ripple and Binance involved in those transactions.

Whale Alert has specified that one of those XRP stashes was moved by Ripple to its OTC distribution wallet.

74.6 mln XRP moved by Ripple blockchain giant

As per the tweets published by XRPL Monitor and Whale Alert, blockchain giant Ripple has shifted three lumps of XRP, adding up to 74.6 mln in total.

XRP
Image via Twitter

Slightly over 25 mln XRP was sent to Ripple's OTC distribution wallet, as detailed by Whale Alert.

As a reminder, Ripple conducts regular XRP distributions to financial institutions as part of partnership agreements signed between them.

A large transaction from crypto trading giant Binance was also detected carrying 51.5 mln XRP.

Related
Ripple CEO Brad Garlinghouse Explains Why CBDCs Do Not Threaten XRP

Chris Larsen wires almost 500 mln XRP

A few days ago, Whale Alert tracked a mammoth-sized transaction in which former Ripple CEO Chris Larsen wired 499,999,979 XRP to an unregistered wallet.

Data from the Bithomp website showed that funds were headed to the Bitstamp exchange, which is Ripple's ODL corridor in Luxembourg.

However, Larsen clarified that a half billion XRP (half of what Ripple releases from its escrow on the first day of each month) was actually sent to New York Digital Investments Group (NYDIG).

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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.