Whale Alert, a well-known cryptocurrency tracker, has recently detected two substantial XRP transactions from two major cryptocurrency exchanges, Crypto.com and Binance, to undisclosed wallets.
Two Trading Behemoths Shovel $37 Million In Xrp
According to Whale Alert, Crypto.com has transferred 50 million XRP worth $25,409,675 to Binance, while Binance has moved 23.5 million XRP worth $11,783,643 through an internal transfer. These two trading giants have collectively transferred $37 million in XRP over the past 24 hours. Bithump, a renowned explorer focusing on XRP transactions, shared these details.
1 Billion XRP Withdrawn By Ripple
Ripple, a prominent fintech company, recently made a scheduled withdrawal from their escrow account, releasing an impressive 1 billion XRP. However, 700 million XRP were immediately re-locked after the withdrawal.
Ripple will utilize the remaining 300 million coins to meet its operational expenses, with some being sent to crypto exchanges and financial institutions, who are Ripple’s customers. According to CoinMarketCap, XRP’s current trading price stands at $0.5048.
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