Ripple Transfers 1,000,000,000 XRP From Escrow Wallets As Bitcoin and Ethereum Whales Move $510,000,000 in Crypto

September 3, 2020 Editor Ripple 0

The payments company Ripple just transferred a huge amount of XRP out of an escrow wallet to three separate wallets owned by the San Franciso startup.

In sum, Ripple moved 1,000,000,000 XRP worth $292.8 million in three transactions. Each transaction settled within seconds, and the combined cost of the charges involved totaled to less than a penny.

Although the transfers free up funds for the company to sell for cash this month, Ripple is expected to unload only a small percentage of the unlocked one billion XRP, as it has in previous quarters.

Ripple also sent 133,152,655 XRP worth $38.8 million to the company’s former CTO, Jed McCaleb.

The multi-million dollar transaction is part of an updated settlement agreement that Ripple and McCaleb reached back in 2016. Under the terms of the deal, the former Ripple executive is allowed to collectively sell as much as 1% of the average daily XRP volume as the settlement is now in its fourth year.

Traders are also tracking a series of large transactions from Bitcoin and Ethereum whales in the last 24 hours, totaling $510.3 million. The movements come as the price of BTC drops 5% to $11,380, according to CoinMarketCap at time of publishing.

BTC whales have moved a total of $279.9 million in Bitcoin in the last day. Most of the crypto was sent from wallets of unknown origin to exchanges, where it could potentially be traded or sold for cash.

Here’s a look at the largest Bitcoin transactions in the last day.

• 3,001 BTC worth $34.3 million sent from unknown wallet to OKEx
• 2,522 BTC worth $28.8 million sent from unknown wallet to OKEx
• 1,000 BTC worth $11.3 million sent from unknown wallet to OKEx
• 2,625 BTC worth $29.8 million sent from unknown wallet to Coinbase
• 990 BTC worth $11.3 million sent from unknown wallet to Coinbase
• 3,000 BTC worth $33.9 million sent from unknown wallet to Binance
• 3,000 BTC worth $34.2 million sent from OKEx to unknown wallet
• 1,500 BTC worth $17.1 million sent from unknown wallet to OKEx
• 3,223 BTC worth $36.7 million sent from Binance to unknown wallet
• 1,650 BTC worth $18.7 million sent from unknown wallet to Binance
• 1,100 BTC worth $13.0 million sent from Binance to unknown wallet
• 900 BTC worth $10.8 million sent from Binance to unknown wallet

Meanwhile, traders are monitoring a pair of huge Ethereum transactions.

The largest sent a whopping 400,000 ETH worth $188.2 million from the exchange Huobi to an unknown wallet. The second moved 89,874 ETH worth $42.2 million between two unidentified wallets.

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