Crypto whale watching platform Whale Alert reports that in the past 20 hours, a significant amount (175 million) of Ripple (XRP) has been moved by custody platform BitGo and several other crypto exchanges. The target of some of these transfers was Bitso and Bitstamp, the ODL platforms of altcoin project Ripple. For details, continue reading Kriptokoin.com.
$142.6M worth of tokens of this altcoin project have been moved to exchanges
As BitGo is a holding crypto platform for multiple institutional investors, XRP has increased by 11.78% in the last few days and on a weekly basis. As it has risen over 36%, experts see it as likely that some holders will sell some of their Ripple-linked tokens.
Source: TradingView Crypto whale watching service Whale Alert has released half a dozen tweets detailing transactions carrying 175 million XRP tokens worth $142,624,409. BitGo, the crypto custody service that stores Ripple (XRP) for many of Ripple’s institutional clients, moved 20,000,000 XRP to the Bitstamp exchange, one of the San Francisco-based fintech giant’s ODL corridors. This amount corresponds to $ 16,564,213.
Last year, BitGo was acquired by Galaxy Digital crypto investment fund led by famous billionaire investor Mike Novogratz. Bittrex exchange moved 20 million XRP to Bitstamp and the same amount of XRP to Bitso. Another ODL exchange working with Ripple, this exchange is located in Mexico and is the largest crypto trader in the Latin American region.
As for the rest of the transfers, Bitso shifted 15,100,000 XRP between their respective wallets, South Korea-based Bithumb moved 66,999,920 XRP internally and Bitstamp’s HitBTC’s. sent 33,000,000 XRP (worth $27,476,838) to
According to CoinMarketCap data, Ripple (XRP) started to pull back after rising as high as $0.8559. At the time of writing, the altcoin was trading at $0.8331, up 0.75% in the last 24 hours. The altcoin project, which has been in lawsuit with the SEC for a long time, is 78.44% below the all-time high of $3.84 it saw 4 years ago.
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