According to WhaleAlert, 60 million XRP were transferred from an unknown wallet to Bitstamp, the same exchange where Jed McCaleb’s tokens were sold, and 40 million to Bitso, a crypto exchange based in Mexico.
165 Million XRP Again Transferred Around Several Exchanges and Unknown Wallets in a Matter of Minutes
These transactions were made from the same unknown wallet. Then, 65.54 million XRP were transferred from the Bitstamp address to another unidentified wallet. The total turnover was 165.54 million XRP, which was $55 million at the time. These numbers are consistent with other strange XRP transactions that occurred last week. Are these XRP transactions confusing? Bitstamp and Bitso are some of the best-known cogs in Ripple’s ODL mechanism, and, overall, there is nothing strange about their presence in this transaction chain.
On the contrary, similar transactions have been seen before with both of these venues. However, previous large transactions have never been preceded by such strong increases in XRP trading volume. Another interesting pattern is that Ripple announced a major partnership with FOMO Pay, one of Singapore’s leading payment systems. Recall that one of the possible reasons for the emergence of transactions was the imminent announcement of a major partnership involving XRP. Perhaps if transactions continue to occur, we can further expect announcements from Ripple or XRPL shortly, and they will become some sort of signal.
Read more:
- Ripple Is Losing Patience With The SEC For Flip-Flopping On Its Story
- FOMO Pay Will Use Ripple’s On-Demand Liquidity Product To Increase The Efficiency Of Payments