As per the reports gathered from recent Tweets by Whale Alert, the Ripple Labs had taken part in transferring nearly 100 million XRP tokens after it had recently locked 800 million tokens back in escrow.
However, in the past few days, amid the XRP lawsuit, the Ripple affiliated tokens have shown a moderate hike of over 8% before losing 5.16%.
The reports shared by the popular tracking service Whale Alert stated that in the past 16 hours, there have been three “heavy” XRP transactions conducted by Ripple, Bitstamp exchange, and an anonymous wallet.
In these short events of crypto transfers, the Ripple giant moved almost half of the wired XRP amount which is nearly 50 million tokens, equivalent to $39,317,676 to an unknown wallet.
Bitstamp wired about 25,572,560 XRP which is equivalent to $19,630,320, and the third portion of XRP was wired from an unknown wallet to Bitstamp.
The analytics from the Bitstamp platform, which is mainly focused on XRP and transactions related to it, showed what had initially been tagged by Whale Alert as an “unknown wallet” later found is in fact a U.S based Bittrex exchange.
The very same source of XRP related findings shows that the 25.5 million XRP equivalent to $73,865,231 was not sent to an anon address but to the BitGo crypto custody platform that was bought by Galaxy Digital last year.
Ripple, a blockchain-oriented monster from San Francisco, released a shocking billion XRP worth almost $776 million, followed with the programmed schedule of withdrawals since early 2017, which has now led to three peculiar transactions made by Ripple to lock about 800 million (equivalent to $615,543,593) to almost a billion back in escrow.
However, the remaining 200 million will be used for covering Ripple’s operational ventures, also supporting the coin’s liquidity on digital exchanges. As per reports, possibly parts of it may also be sent to the company’s multiple users in various parts of the world.
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