According to data from Whale Alert, a whale tracking service for cryptocurrency, Ripple locked 600,000,000 XRP tokens worth $246.6M in its escrow wallet. It’s important to note that Ripple transferred the funds from two of its wallets to the escrow wallet before locking it in escrow.
About 12 hours ago, the first transaction occurred. According to Whale Alert, Ripple transferred 500M XRP ($200 million). A short while afterward, Ripple moved an additional 100M XRP tokens worth $39.65 million to the escrow wallet.
Following the fund’s deposit in the escrow wallet, Ripple instantly locked 600M XRP in escrow using two separate transactions. The top blockchain company locked the first 500M XRP tokens in escrow about 13 hours ago, and the second transaction happened a few minutes later.
Read article: Novatti Receives Merchant Acquiring License in New Zealand, Becoming Ripple Partner’s Newest Expansion
Notably, the transaction took place a short while after Ripple released 1 billion XRP as part of its monthly token unlock initiative.
Read more: Ripple Reaps $226M Net ODL XRP Sales in Q4 2022 Markets Report
Whales Transferred Over 612M XRP
Before and following Ripple locking 600M units of XRP in escrow, Whale Alert also noticed the transfer of significant sums of XRP tokens by cryptocurrency whales. Remarkably, Ripple was involved in the most recent XRP fluctuations.
According to Whale Alert, a mysterious whale transferred 300 million XRP coins worth $119.48 million to Ripple. Notably, the transaction took place an hour before Whale Alert revealed information about the 600,000,000 XRP coins Ripple had locked in escrow.
A staggering 206,581,145 (206.58M) XRP coins were sent from an unidentified wallet to another anonymous address about 10 hours ago. The estimated value of the transaction was $83.76 million.
An unidentified whale deposited 35M XRP tokens ($14.5 million) earlier today to a wallet connected to Bitstamp. Another anonymous cryptocurrency whale transferred 26M XRP ($10.7 million) to the Latin American exchange Bitso in a related occurrence.
Whale Alert observed today’s significant movement of XRP on the Latin American cryptocurrency market. This time, the unidentified whale withdrew 45.4M XRP tokens valued at around $18.9 million from the Bitso platform.
