Ripple Distributes 100 Million XRP to an Unknown Wallet One Day After Selling 30 Million XRP
Ripple blockchain services provider reportedly sent 100 million XRP in a single transaction to an “anonymous” wallet roughly 12 hours ago, according to the Whale Alert tracker.
This occurred two days after the business took a staggering billion XRP coins from escrow. In the meanwhile, whales have traded close to 300 million XRP over the course of the previous two days.
As their activity has escalated over the previous month, whales moved large quantities of Ripple-affiliated tokens on these two days. A Ripple transaction was also seen among them.
An “unknown” address received 100 million XRP from Ripple’s wallet, according to a tweet from Whale Alert. However, the Bithomp on-chain wallet tracker for XRP indicates that this cryptocurrency was sent to RL18-VN, an address commonly used by Ripple to transfer cash outside the firm.
In the past, cryptocurrency was transmitted from this wallet to exchanges, institutional clients, and charities.
On September 1, one billion XRP were routinely released from escrow. This time, 700 million tokens were returned to escrow on the same day, and 300 million were placed aside to be reintroduced into the circulating supply at a later date.
The previously announced 100 million XRP are likely included in the unlocked cryptocurrency. 60,000,000 and 50,000,000 XRP were transferred from the Bittrex exchange to the Mexico-based Bitso and Bitstamp exchanges, respectively.
Additionally, Bitso transferred 101,8 million XRP across its internal addresses. This exchange operates one of Ripple’s liquidity corridors based on ODL (On-Demand Liquidity) technology, therefore it often engages in XRP-related transactions, such as selling it, transferring it to other exchanges, or using it internally.
As for Ripple, it sent 30,000,000 XRP coins to Bitstamp, one of its ODL platforms. The transfer was made using the previously described RL18-VN wallet.
