According to recent blockchain-based data, Ripple may be preparing to send another large sum of XRP to China’s largest exchange as part of regular daily transfers.
Approximately six hours ago, Ripple DLT decacorn shifted a whopping 100 million XRP to its RL18-VN address used to move XRP from Ripple to its clients, partners and crypto exchanges.
Analyzes regarding a previous chain of transactions shared by the Bithomp XRP data website show that this money is likely to be broken into chunks and sent to the Huobi platform on a daily basis.
Ripple shifts 100 million XRP
According to the tweet posted by Whale Alert crypto tracking platform, Ripple fintech giant has recently shoveled a staggering 100 million XRP to its RL18-VN address in order to move it in smaller transfers to the largest crypto trading venue in China, Huobi, later on a daily basis.
One hundred million XRP is equivalent to approximately $ 90,518,490 at the current exchange rate of the sixth largest cryptocurrency.
Ripple sends 1.5 million XRP to Huobi
Huobi receives XRP from Ripple to the r37SFX6FZsxiJGxLrWCdCHm2Cub4jKcxhz wallet. In addition, today, September 29, a transfer of 1,542,780 XRP has already been made by the San Francisco-based distributed ledger technology provider.
According to Bithomp, Ripple’s RL18-VN has been sending these 1,542,780 XRP to Huobi since Sept. 27. The daily amount of XRP sent to this crypto exchange changes from week to week.
Before Sept. 27, the amount of daily XRP lumps sent to Huobi was 3,099,200. Earlier this year, U.Today repeatedly reported that Ripple sent large amounts of XRP to Huobi, but the technology vendor DLT has never clarified the purpose of these transfers.
Huobi is banning all users from mainland China
As covered by U.Today earlier, the world’s two largest crypto exchanges—Binance and Huobi—as well as other exchanges in China are facing harsh regulatory pressure from the country’s authorities.
Huobi initially suspended the registration of new users from mainland China and now plans to ban them gradually but completely. Binance, at the moment, is prohibiting new users from mainland China to open accounts with it and is about to stop offering any services to its customers in Singapore over regulatory pressure.
Reasons for China’s current crypto ban suggested by Elon Musk and Kiyosaki
At the recent Code conference on September 28, eccentric centi billionaire Elon Musk suggested that China’s recent crypto ban, the most severe to date, is imposed because Bitcoin and other cryptocurrencies threaten. the power of the Chinese Communist Party.
Well-known investor and author of “Rich Dad, Poor Dad,” Robert Kiyosaki, believes that China is posing yet another ban on crypto as it is about to launch its own CBDC, also known as DCEP or digital yuan.
