According to blockchain data released today, an amount of nearly 100 million XRP has been transferred between crypto whales and leading exchanges. That’s over $ 104 million at the time of writing.
The blockchain service Whale Alert is spreading information that the main participants in the crypto market have transferred 98.4 million XRPs in the last 20 hours, and details in its tweets. Distributed ledger technology provider Ripple is on the sender list.
Almost 100 million XRP transferred by leading market players
According to the blockchain sleuth mentioned above, several leading digital exchanges and anonymous crypto wallet holders have moved 98.4 million XRP tokens. That volume of cryptocurrency equals $ 104,304,000 at the time of writing.
There were six crypto transactions that ranged from 10 million XRP to 46,869,520 XRP. Ripple transferred 20 million coins from one of its alternative wallets, RL18-VN, to the Bitstamp exchange in Luxembourg.
Oddly enough, this crypto platform suspended XRP trading in January this year after the SEC launched a high profile lawsuit against Ripple Labs, its CEO and co-founder.
Cryptocurrency giant Binance is mentioned more than others in relation to these six XRP transfers. The exchange transferred two chunks of 10 million XRP to the Gopax platform. The platform also received 15,800,000 XRP from the aforementioned Bitstamp.
Anonymous whale transferred 46,869,520 XRP to another anonymous crypto wallet. This is the equivalent of $ 50,135,910 in fiat.
On October 5, Binance also received 30,000,000 XRP from the Huobi Chinese Exchange. In addition, the American Bittrex transferred 12 million XRP to the Upbit exchange.
Former Ripple partner works with Stellar. together
Today it was reported that former Ripple partner, money transfer giant MoneyGram, has signed a partnership with Ripple’s current rival, the Stellar Development Foundation, a Delaware-based non-profit that supports the development of the Stellar blockchain.
Stellar (XLM) was founded by former Ripple CTO and co-founder Jed McCaleb, who left Ripple in 2013 – a year after it was founded.
MoneyGram and Stellar will use the second most popular stablecoin USD Coin (USDC) to process payments by instantly converting USDC to fiat and vice versa.
This is a pilot project that will be fully operational in 2022. Almost a year ago, on October 15th, it was announced that USD Coin would expand to the Stellar blockchain. The official launch of USDC on the Stellar blockchain took place in February 2021.
Ripple’s partnership with San Francisco-based MoneyGram began back in 2019 when Ripple acquired a large stake in the latter. In March of this year, however, the partnership was terminated due to a lawsuit filed by the SEC in December 2020.