Exchanges moved nearly 332 million XRP with Ripple participating in these transactions in the past two days
According to some reports, 331.6 million XRP were transferred by multiple crypto trading platforms and Ripple. Ripple sent part of this massive amount to its ODL corridor.
331M XRP shifted by Ripple and exchanges
Over the past two days, Whale Alert has detected more than a dozen crypto transactions carrying medium to large amounts of XRP. In total, 74.6 million coins were transferred in the last 24 hours. A total of 257 million XRP were transferred during the same previous time.
The most significant volume of XRP shared in one go is 72,500,000 XRP; it was moved between anonymous addresses. However, the XRP-centric analytics platform Bithomp shows that the transaction was made from a wallet belonging to Binance to a Bittrex-based address.
🚨 🚨 🚨 🚨 🚨 72,500,000 #XRP (50,336,949 USD) transferred from unknown wallet to unknown wallethttps://t.co/PQDL1QjuZo
— Whale Alert (@whale_alert) April 11, 2022
This is not the only transfer made by Binance in this XRP change sequence. The world’s largest cryptocurrency exchange by volume also moved 15,104,024 XRP between its wallets. These tokens were sent from hot wallet to cold wallet, and both belong to Binance.
The second-largest transaction – 50,000,000 XRP – was conducted by giant Ripple DLT. The funds were sent to one of the company’s reserve wallets: RL18-VN. Ripple then sent a smaller amount of XRP — 30,000,000 coins — to an exchange that provides an On-Demand Liquidity platform for Ripple, Coins.ph based in the Philippines.
🚨 🚨 🚨 50,000,000 #XRP (34,914,920 USD) transferred from Ripple to unknown wallethttps://t.co/Omx9KYFAoC
— Whale Alert (@whale_alert) April 11, 2022
Last year, Ripple established a new ODL bridge, traveling from Japan to the Philippines, using the exchange used for ODL before, Coins.ph.
This joint venture was established by Ripple’s major partner in Japan, SBI Group. Its subsidiaries, SBI Remit and cryptocurrency exchange SBI VC provide the necessary infrastructure for the ODL corridor.
Coins.ph was recently sold by its owner, the technology giant Gojek, to the former chief financial officer of Binance, Wei Zhou. The deal closed for $190 million.
Read more:
- Ripple Presently Has More Than 20 ODL Markets Open As It Continues To Push Global Coverage
- The Latest Court Ruling Is A “Very Big Win” For Ripple Against The SEC