One Billion XRP Withdrawn By Ripple While 412 Million XRP Is Moved By Exchanges
Ripple fintech giant has unlocked another massive XRP stash as major crypto market players shifted nearly half a billion XRP
Whale Alert crypto tracker is spreading word that Ripple DLT service provider has withdrawn another staggering billion XRP from escrow on the first day of a new month to add some of it to its circulating supply.
In the meantime, more than 410 million XRP coins have been scooped by high-end digital exchanges and addresses that Whale Alert has marked as “unknown”.
Ripple Moves 1 Billion XRP
Ripple fintech monster has released one billion XRP from escrow since early 2017 with the aim of unlocking 55 billion Ripple-affiliated coins. Over the past few years, the company has added 200 million of a released amount into circulation and put 800 million, or sometimes 900 million, on escrow.
The remaining XRP will be sent to countless Ripple customers – banks, custodial platforms and other financial institutions, as well as to exchanges to support the coin’s liquidity.
The fiat equivalent of the billion XRP transferred today is over $810 million.
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412 million scooped up by exchanges and an anonymous wallet
Apart from that, the aforementioned crypto tracker reported that several major crypto trading platforms and anon wallets had moved as many as 411.9 million XRP tokens between each other.
The wallets tagged as “unknown” by WA were also found to be exchanges and custodian wallets, according to XRP-focused data aggregator Bithomp.
The majority of the trades were carried out by the FTX, Bitstamp and Bittrex exchanges. The others are made by Binance, Ripple ODL corridor Bitso and the custodial service BitGo – acquired last year by Mike Novogratz’s Galaxy Digital.
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