Ripple and Binance have moved a staggering $85 million in XRP in the last 20 hours. According to Whale Alert, several major XRP repositories have been transferred by Ripple and Binance in the last 20 hours. cryptocoin.com We look at the details.
Ripple and Binance operation
The price was over $1 when 80 million XRP was exchanged by Ripple and Binance. The total amount of crypto traded is equal to 80 million XRP. As of writing, the sixth-ranked XRP in the crypto market is changing hands at $1.08. Most notable is a transaction of 50,000,000 XRP or $53,460,101 sent from the Binance exchange to an unknown wallet.
A staggering $108,241,261 XRP move was carried out by Ripple and Binance exchange the other day. San Francisco-based crypto decacorn transferred 40 million XRP to its RL18-VN wallet and Bitso exchange. The company often uses the former to distribute XRP beyond Ripple, and the latter is Ripple’s ODL partner in Mexico and Latin America. It moved a total of 60 million XRP to Binance, Bitgo and other exchanges. Earlier this year, Bitso raised over $1 billion in funding, making the exchange the first crypto unicorn in Latin America.
Previously, major US-based exchange Coinbase refused to restart XRP trading after suspending it earlier in the year, while a major Japanese exchange will begin trading of the Ripple-linked cryptocurrency. Also, on September 1, TAOTAO’s managing company merged with SBI VC Trade, a crypto exchange affiliated with SBI Group, a key partner of Ripple Labs in Japan. Currently, XRP is still trading around $1.07, down 16% over the past seven days.
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