Over the past few hours, an astonishing amount of XRP has been moved between three major exchanges and one crypto wallet with an anonymous owner. Four transactions – 10 mln, 11.5 mln, 50 mln and 22 mln XRP.
Exchanges involved: Coincheck, Bitstamp, and Bithumb, as well as one anonymous crypto wallet.
As reported by the XRPL Monitor account on Twitter, over the past few hours, four transactions totaling almost 93,5 mln XRP have been performed on the XRP ledger. The largest one of them (49,999,994.9999 XPR) was confirmed by Whale Alert, which tracks only large crypto fund movements.
? 49,999,995 #XRP (11,669,366 USD) transferred from unknown wallet to #Bitstamp
— Whale Alert (@whale_alert) January 28, 2020
The Bithomp analytical website shows that the following crypto exchanges and XRP amounts were involved.
- Bitstamp to Bitstamp 21,990,778.442161 XRP;
- Anonymous wallet to Bitstamp 49,999,994.9999 XRP;
- Coincheck to Coincheck 10,000,000 XRP;
- Bithumb to Bithumb 11,500,000 XRP.
IPO could help XRP’s price in the long run
At a Wall Street Journal interview in Davos, Switzerland at the World Economic Forum, Ripple CEO Brad Garlinghouse made a surprising announcement: after saying that he expects for there to be a number of crypto- and blockchain-related IPOs in the coming 12 months, he said that he wants to bring his fintech company to a public stock market in the near future.
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.” –@bgarlinghouse at #WEF20
— Asheesh Birla (@ashgoblue) January 23, 2020
Due to the unexpectedness of this news, many have had things to say about the announcement. Specifically, many have wondered what this will mean for the XRP, the company uses the asset in their operations and holds a large portion of the coins in escrow to help fund operations.
Mati Greenspan, the founder of QuantumEconomics and an ex-eToro analyst, said in a comment that an IPO could help XRP’s price in the long run, claiming that it “would be positive” as “Additional funding for Ripple would mean less reason to sell off tokens.” Greenspan was referencing the idea that the sales of XRP by Ripple has depressed the price of the cryptocurrency.
Read more:
- 12.58 Million BTC Has Been Hodl For Over 12 Months
- Deutsche Bank Says Cash Will Not Become Obsolete In The Near Future