1bln XRP was released from Ripple Escrow making the community angry while the whales transferred over $1bln BTC
After promises of reducing the XRP release rate, the first day of February, Ripple released another 1 billion XRP from its Escrow.
Ripple releases 1 billion XRP on schedule
This happens monthly. It is programmed to release from Escrow. From this month, it will be released in two transactions, each trading 500 million XRP instead of one transaction (1 billion) as previous times.
The cryptocurrency community has never liked giant XRP releases like this.
Most people think that Ripple is deliberately dumping XRP to pump the company’s upcoming IPO. Some users believe that the reason is to get money to buy Bitcoin before the ‘to the moon’ price.
A user looking at the reality is more optimistic as the XRP price is not affected by this release, and the price is increasing by nearly 7% at the time of writing. He believes that this time will be different from the past, and the good times are waiting ahead.
Whales arose, moved over $ 1 billion BTC
Whale Alert drew the attention of the community for two transfers of a total of 99,704 BTC between unknown wallets, or nearly $ 1 billion.
One link to that transaction shows that the person who received half of the huge tokens was the Bittrex exchange.
In the opinion stream, the cryptocurrency community is discussing the possibility of transactions made by a whale preparing to sell part of this Bitcoin on the market through Bittrex.
Besides two large transactions above, there are three other small transactions transferred between the unknown wallet and the exchange. The total value of these three small moves is 2075 BTC (~ $ 19.4 million).
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