Historic record in number of XRP millionaires set
According to crypto analytics portal Coin Metrics, the number of large wallets with over 1 million XRP on their balance sheets has reached an all-time high. The number of such addresses has reached a value of 1,894.
Looking at the graph, we can see that the number of XRP whales has been growing relentlessly since the SEC’s investigation into Ripple was announced. As early as November 2021, the number of XRP millionaires reached pre-trial levels, and then almost a year later, that record was broken.
Overall, the number of XRP addresses is equal to 4.35 million, as reported by U.Today. The total number of XRP contained at these addresses is equivalent to 56.68 billion tokens. The remaining approximately 100 billion XRP supplies are stored in Ripple’s escrow account.
Coinbase and XRP
Interestingly, CoinMetrics compares the number of large XRP wallets to the trading volume chart on Coinbase in its research. The exchange and the cryptocurrency have a long history with each other.
When the SEC sought to delist the token, Coinbase was one of the largest providers of XRP liquidity. This can be partially seen in the chart above. There were strong feelings on both sides when today it is finally revealed that Coinbase has requested to participate in the lawsuit on behalf of Ripple.
