San Francisco-based Ripple, one of the largest blockchain companies in the USA, has unlocked 1 billion XRP as at the beginning of every month. While it is known to the community that Ripple unlocks 1 billion XRP every month, what it does with them is actually not clear to many. Ripple, which was also sued by the US securities regulator for the use of XRP, seems to have locked down most of the funds it unlocked on October 1 for this reason.
Ripple Unlocks 1 Billion XRP Again
1 billion from escrow wallet on October 1st XRP Today, Ripple has locked back 600 million and showed that 60% of the funds are locked again. Although this time the transaction seems to be positive for those who do not know the previous transactions, it is seen that the amount to be used has actually increased.
The fact that Ripple, which had locked 800 to 900 million XRP in the previous months, now locks 600 million units, seems to have caused a reaction on Twitter. It is known that Ripple generally uses the remaining funds for corporate expenses, marketing payments and useful steps for both Ripple and XRP. However, because Ripple did not report this situation transparently, the community reacted to the fact that between 200 and 300 million extra XRP was used at once.
In the continuation of this transaction, it was seen that approximately 105 million XRP was transferred between unknown wallets.
Even the SEC lawsuit could not stop Ripple, which continues to distribute XRP as before.