Tech

Over 844 Million XRP Shuffled Among Ripple, Famous Exchanges, and Unknown Wallets in 24 Hours 

08/18/2022
Bitcoin Ethereum News
Ripple XRP
Ripple XRP

 

The amount of large Ripple (XRP) transactions has continued to skyrocket in recent times. 

According to Whale Alert, a total of 844.05 million XRP coins, worth $315.67 million, have been shuffled among Ripple, cryptocurrency exchanges, and unknown wallets. 

These large XRP movements involved popular cryptocurrency exchanges like Binance, FTX, Bitstamp, Bitso, etc. 

Details of the Transactions

Sharing the details of these massive XRP transfers that took place in the last 24 hours, the first transaction involved an unknown wallet and FTX. Per Whale Alert, 31,769,271 (31.7M) XRP coins worth $12.19 million were transferred from FTX to an unknown wallet. 

A few hours later, the whale tracking service observed the movement of 30 million XRP ($11.29 million) sent from an unnamed crypto wallet to an address on the Bitstamp exchange. 

In what is considered the largest XRP transaction that took place in the last 24 hours, a total of 295,500,011 (295.5 million) XRP moved from an unknown wallet to Binance, the world’s largest exchange. The funds were worth $110.6 million at the time of the transaction. 

Interestingly, a large amount of XRP coins were shuffled between two unknown wallets. According to Whale Alert, a total of 286,122,733 XRP coins valued at around ($106.64 million) were transferred from one unknown wallet to another. 

Meanwhile, Ripple was also involved in the latest round of XRP shuffling that took place in the last 24 hours. This time, Ripple transferred 50 million XRP worth $18.88 million at the time of the transaction to an unknown wallet. 

Notably, XRP transfers made by Ripple are done to service On-Demand Liquidity (ODL) clients amid rising demand. 

Earlier today, an unknown wallet made a transfer of 45 million XRP ($17.14 million) to an address on the Bitstamp exchange. 

However, it did not take long before 55,653,202 (55.65 million) XRP coins were moved from a Bitstamp address to an unknown wallet. The funds were worth $21.2 million at the time. 

In a similar development, another Ripple whale sent 50 million XRP to the Bitso exchange. According to blockchain data from Whale Alert, the funds were worth $19.05 million at the time of the transaction. 

Source: https://thecryptobasic.com/2022/08/18/over-844-million-xrp-shuffled-among-ripple-famous-exchanges-and-unknown-wallets-in-24-hours/?utm_source=rss&utm_medium=rss&utm_campaign=over-844-million-xrp-shuffled-among-ripple-famous-exchanges-and-unknown-wallets-in-24-hours