As the crypto market turns green, exchanges have moved around 332 million XRP in the past two days with Ripple participating in these transactions
content
- 331.6 Million XRP Shoveled By Major Exchanges And Ripple
- ODL Corridor Coins.ph Sold to Ex-Binance CFO
A total of 331.6 million XRP tokens have been transferred by several crypto trading platforms and San Francisco-based Ripple fintech heavyweights, according to data provided by popular crypto tracking service Whale Alert.
A part of this huge amount was sent by Ripple to its ODL corridor.
331.6 Million XRP Shoveled By Major Exchanges And Ripple
Over the past two days, Whale Alert has detected more than a dozen crypto transactions involving medium and heavy amounts of XRP.
Altogether 74.6 million coins have been transferred in the last 24 hours. A total of 257 million XRP was transferred within the same period before.
The largest one-time XRP lump was 72,500,000 XRP; According to Whale Alert, it was moved between anonymous addresses. However, data shared by the XRP-focused Bithop analytics platform shows that the transaction was made from a Binance-related wallet 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) 11 April 2022
This was not the only transfer by Binance in this series of XRP shifts. The world’s largest crypto trading platform by volume also transfers 15,104,024 XRP between its wallets. These tokens were sent from the hot wallet to the cold wallet, both belonging to Binance.
The second largest transaction – 50,000,000 XRP – was done by the DLT giant Ripple. The funds were sent to one of the company’s reserve wallets: RL18-VN. Later, Ripple sent a small 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) 11 April 2022
ODL Corridor Coins.ph Sold to Ex-Binance CFO
Last year, Ripple installed a new ODL bridge, going from Japan to the Philippines, using an exchange that was already used for ODL, Coins.ph.
The venture was set up by SBI Group, a major partner of Ripple in Japan. Its subsidiaries, SBI Remit and crypto exchange SBI VC, provide the necessary infrastructure for the ODL corridor.
Meanwhile, as recently covered by U.Today, Coins.ph was sold by its owner, tech giant Gojek, to Wei Zhou, the former chief financial officer of Binance. The deal was closed for $190 million.