Market momentum in the cryptocurrency industry is of paramount importance, since it is often considered as an important marker in the propagation of crypto-use. Ever since the end of the crushing bear market, there have been several instances of massive amounts of cryptocurrencies being moved, especially when it comes to XRP, the third largest coin on the charts.
According to @WhaleAlert, a cryptocurrency data aggregator, there have been multiple drops of large XRP sums, amounting to a total of close to 26 million XRP. The first drop included a transfer of 10 million XRP from a Ripple Over-the-Counter distribution wallet to another unknown wallet in the cryptosphere.
The transfer amounted to a whopping $3.732 million and had a time stamp at 23 May 8:00 UTC. The transmitter address was rMaV5QT2ZCwVFArQ7sdQMxhtzg6mgqJ47h, while the receiver address was rEFtdHuyxgUjDL4t3gBsesQwHtnDy2W8rC.
The first transaction of 6.862 million XRP was preceded by another transfer of 6 million XRP, which occurred from an unknown wallet to a Nexo wallet. The unknown wallet’s address was rhCgcS11iumWeutBF4CPEu7G2zTXkh5oUZ, while the Nexo wallet’s address was rNrWGYBb9GJoRrZKqpH6PigQ2fdj7dRLyk.
The third significant XRP transaction that occurred in the space of 12 hours included another drop of 10 million XRP. The exact amount of XRP transferred was 10.11 million, moved from Ripple to an unknown wallet. The Ripple address on Bithomp was rhmc2XPEbmCN8MW6dcoMUGBuzzp65uKpEn, while the unknown wallet had an address of rH51tppA1cF5J75GS6MqaJhJfQFm2PPXG2.
Ripple and in turn, XRP, was also in the news recently after Ripple partner R3’s Corda released a statement that they were planning to further their partnership with credit union-centric CULedger. The press release from the organization stated,
“This will allow credit unions using CULedger’s network to choose from a variety of near-instant, secure and affordable domestic and cross-border payment options to meet theirs and their members’ needs.”
Subscribe to AMBCrypto’s Newsletter