Ripple Transfers 44 Mln XRP, While Bitfinex Sends XRP Lump to Philippines

News
Fri, 10/16/2020 - 13:33
Yuri Molchan
Reports say that Ripple fintech monster has transfered 44 mln XRP, pushing a portion of it to Binance; Bitfinex exchange was spotted with big XRP transactions as well
Ripple Transfers 44 Mln XRP, While Bitfinex Sends XRP Lump to Philippines
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XRPL Monitor revealed that over the past 24 hours, fintech heavyweight Ripple wired approximately 44 mln XRP - $10,648,704 in fiat.

14,1 mln XRP was pushed to the Binance trading giant. Bitfinex was also detected to accept and send large portions of XRP.

Ripple kicks 44 mln XRP, sending part of it to Binance

Recently, XRPL Monitor reported that DLT giant Ripple wired approximately 30 mln XRP between its crypto addresses.

14.1 mln was shifted to the Binance exchange. Earlier, U.Today reported that, according to Ripple, such transfers of gargantuan XRP sums to exchanges are done to support XRP liquidity.

XRP
Image via Twitter

From time to time, XRPL Monitor notices substantial XRP transactions made by Ripple to Binance. However, often enough Binance returns ‘redundant’ XRP to the fintech decacorn.

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Bitfinex sends an XRP lump to the Philippines

According to the aforementioned XRP-tracking Twitter bot, the top-of-the-line Bitfinex exchange received 9 mln XRP from Ceulsius Network.

An almost similar amount was then wired from Bitfinex to a crypto exchange PDAX, based in the Philippines.

As a reminder, the Philippines also host one of Ripple’s ODL corridors that trades XRP against the local fiat currency – the Philippine peso, Coins.ph.

The XRP liquidity index on this platform has been unable to reach a new all-time high for a long time this year. Currently, it totals 1,250,513 against the 11,508,218 ATH.

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, can be contacted at yuri.molchan@u.today.