A sum of 25 million XRP worth $7.5 million was transferred recently from the third richest XRP wallet to another wallet. XRP, a cryptocurrency coin closely connected with payments company, Ripple and enterprise blockchain software company, R3 is third on the list of the world’s largest cryptocurrencies, at press time.
The transaction of 25 million XRP cost a mere 500 drops [0.0005 XRP] which is approximately worth $0.0001514. The transaction took place on February 14, 2019, at 5:21 PM UTC.
XRPL monitor tweeted:
“Transaction Type: Payment
Amount: 25,000,000 XRP
Fee: 500 drops (0.0005 XRP)
Sender Balance: 2,496,635,065.5766
Receiver Balance: 25,022,278.99987”
The current balance in the new wallet [rPfSrrKY97EihgZeAwqgR7g1tYzDDJoAys] is the same as the amount received, which suggests that it is a fairly new wallet. A total of 15 transactions have been recorded for the aforementioned wallet, the first transaction being on November 16, 2018.
The peculiar thing about this transaction is the identity of the sender [rKveEyR1SrkWbJX214xcfH43ZsoGMb3PEv]. According to data obtained by Bithomp XRP explorer, the sender was Ripple itself.
The wallet address, as per Bithomp belonged to Bitstamp and has a total balance of 2.497 billion XRP, which is worth a total of $752 million and 210,167 BTC.
The sender has had a total of 13 transactions and some people suggest that this wallet could be linked to escrow wallets. The Ripple wallet, however, was activated on December 01, 2017 at 22:54. The Ripple-owned wallet is the third richest wallet on the XRPL.
The first four richest wallets belong to Ripple, the richest wallet [rDbWJ9C7uExThZYAwV8m6LsZ5YSX3sa6US] had a total of 4.68 billion XRP. The second richest wallet has 3.73 billion XRP, the third is aforementioned and the fourth richest wallet has 1.95 billion XRP. The fifth wallet, however, belongs to Bitstamp and it has a total of 1.1 billion XRP.
Moreover, the wallet that received the above-mentioned amount of XRP has now achieved the rank of 128th richest cryptocurrency wallet.
@xrpgiles, a Twitter user speculated as to where this transaction was going, commenting,
“Boom ! JP Morgan have realised after three hours that superior tech exists ha ha ! @digitalassetbuy”
@smcmass1, another Twitter user came to the same conclusion as he commented,
“This transfer must be for JP Morgan to transfer internationally to other big players that don’t want their coin. JP Morgan needs this :)”
@cathy02755674 replying to smcmass1 said,
“What JP Morgan needs is for Warren Buffet to stop pulling their strings. They only wish they could have partnered with Ripple!”
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Ripple: SCB Thailand asks crypto-enthusiasts to wait for announcement regarding XRP adoption
The nascent field of cryptocurrencies has been seeking major mainstream adoption, especially from financial institutions. Ripple, the native company of the third largest cryptocurrency, managed to promote its services and would provide payment services to the oldest Thai bank, Siam Commercial Bank [SCB].
The bank however, has not confirmed whether it would be making use of XRP. The Bank had informed its approach towards blockchain technology in various industries and the XRP community rejoiced after rumours of XRP adoption surfaced. However, when a Twitter user asked about the bank using XRP, SCB replied,
“We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.”
However, another Twitter user, @_bjb, jumped the gun when he saw the following on SCB,
SCB transfers via Ripple. And with that we have mainstream adoption in Thailand. pic.twitter.com/n9QRt5Uq7X
— ₿ryan (@_bjb) May 18, 2019
The user then shared that when he went to use the service, he was informed that the service will be available soon. SCB Thailand apologized for the inconvenience through a tweet and informed all users,
“The information about ripple transfer will be announced soon, we are sorry for the inconvenience.”
The bank also stated that at the moment, it was using Ria Ripple transfer for banks in Japan and that users and crypto-enthusiasts will have to wait for an official announcement.
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