Ripple shows prowess moving $755 million of XRP in just 4 seconds
|- The specific amount of XRP moved caught the attention of the crypto community.
- Ripple owns most of the XRP supply; roughly 60% of total supply.
The world’s largest altcoin, Ripple’s XRP has kicked off the new year with incredible transaction news. The San Francisco-based blockchain company has its networking moving colossal amounts of XRP. The specific amount of XRP moved caught the attention of the crypto community. For stance at $2,133,569,088 XRP funds, which translate to roughly $755,705,929 has already been moved.
The transferred funds were made a series of seven transactions and uniquely display very minimal transaction fees. In fact, a report published by The Daily Hodl, a crypto news site indicates that for all the funds moved, the total amount of transaction fee comes to less than cent.
As per Whale Alert by Twitter, the tokens are being transferred into escrow. It should be noted that Ripple owns most of the XRP supply. In fact, Ripple is said to control 60% of total supply. In addition to that, the tokens are still sealed in escrow. The rest of the funds seem to indicate XRP movement to Ripple’s over-the-counter (OTC) addresses. The company is known to sell its tokens to institutional clients from time to time.
At press time, XRP is trading at $0.36 following a 1% decline on the day. The market is generally in the red after the anticapted new year bull run failed to materialize.
Elsewhere in the market:
1. Bitcoin price analysis: Recovery fizzles out into a bull flag pattern
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.