Ripple fintech giant has unlocked another massive XRP stash, while major players on crypto market have shifted nearly half a billion XRP
Whale Alert crypto tracker is spreading the word that service provider Ripple DLT has again withdrawn a huge billion XRP from escrow on the first day of a new month to add some to the circulating supply.
In the meantime, more than 410 million XRP coins have been shoveled by high-end digital exchanges and addresses that Whale Alert marked as “unknown.”
Ripple moves 1 billion XRP
Fintech behemoth Ripple has released one billion XRP from escrow since the start of 2017 in a bid to unlock 55 billion Ripple-affiliated coins. Over the past two years, the company has added 200 million of a released amount to circulation and placed in escrow 800 million, or sometimes 900 million.
The remaining XRP is sent to numerous Ripple customers—banks, custodial platforms and other financial institutions, as well as to exchanges in order to back the coin’s liquidity.
The fiat equivalent of the billion XRP transferred today is over $810 million.
412 million shoveled by exchanges and anon wallet
Aside from that, the aforementioned crypto tracker reported that several big crypto trading venues and anon wallets had moved a whopping 411.9 million XRP tokens between each other.
Wallets marked as “unknown” by WA also turned out to be exchanges and custodial wallets, according to XRP-focused data aggregator Bithomp.
The majority of the transactions were conducted by the FTX, Bitstamp and Bittrex exchanges. The others were made by Binance, Ripple ODL corridor Bitso and custodial service BitGo—acquired by Mike Novogratz’s Galaxy Digital last year.
