Hundreds of Millions Ripple Dumped to Popular Bitcoin Exchange! What's going on? - News-Credit-Mortgage-Coin

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Saturday, May 8, 2021

Hundreds of Millions Ripple Dumped to Popular Bitcoin Exchange! What's going on?

 


Cryptocurrency monitoring service Whale Alert tweeted that the San Francisco-based Ripple giant has sent 100 million XRP to one of its additional wallets in the past twenty-four hours.

Data from Bithomp shows that this huge amount of XRP will be sent in chunks to the cryptocurrency exchange Huobi, and the first transfer has already been made.

Ripple prepares to move 100 million XRP to Huobi
Data shared by Whale Alert shows that Ripple has transferred 100 million XRP coins to the RL18-VN wallet, which the company frequently uses to move funds to other platforms. The value of this amount in dollars is equivalent to 163,418,644 USD.




According to analysis site Bithomp, this money will be sent to Huobi in transfers of 7 million a day. Transactions were carried out in this way last week. The site reveals that on April 22, Ripple moved 100 million XRP to the same address, followed by fifteen transfers to huobi.com.

7.5 million XRP were moved in most transactions. The last batch carried was seven million worth. Now, another 100 million tokens are moving to the wallet. Therefore, these same transactions are expected to occur. Earlier, Ripple was on the agenda with the daily amount of XRP sent to Huobi, China's largest cryptocurrency exchange.

The first transfer of 7 million XRP has already been made.

The number of XRP whale wallets increased
As we previously reported as Kriptokoin.com, Ripple shared that it has seen a 97 percent increase in XRP sales this year in the first quarter markets report. This growth is attributed to the higher engagement of Ripple partners and customers with the On-Demand Liquidity (ODL) service in the first quarter of 2021.

Also, the report says it has seen a large increase in the quantity of XRP whales. The number of wallets with at least 10 million XRP increased from 308 to 319. The number of addresses holding between one million and ten million XRP increased from 1,125 to 1,196.


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