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XRP worth $90 million transferred between two unknown wallets; community abuzz

Akash Anand

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XRP worth $90 million transferred between two unknown wallets; community abuzz
Source: Unsplash

The cryptocurrency market has undergone rapid shifts in the price sentiments with several coins witnessing their value drop after a week. Although holders and investors are bracing for 2019, certain events in the crypto sphere have generated some buzz within the XRP community.

On December 27, the XRP community received news that almost 90 million XRP tokens were moved from one unknown wallet to another wallet whose destination still remains unknown. The movement was brought to notice by Whale Alert, a Twitter handle which stated:

“90,000,000 #XRP (33,493,911 USD) transferred from Unknown wallet to Unknown wallet
Tx: https://bithomp.com/explorer/432596B0BBA3ED425BC039EACF4ACF8F472A7CA066DE0BBD7365742746BBDABE

Post the announcement, John, another Twitter user stated:

“Someone bought an island with $xrp lol”

This is not the first time that massive amounts of XRP have been transferred, recent reports stating that $11 million worth of XRP was also transferred in a shady ordeal. These two cryptocurrency movements were important because of the lack of clarity on the sender address and the receiver address. December also saw multiple other transfers in the crypto space, which was evidenced by 51 million XRP being transferred to a Bitstamp address.

Coinbase, the largest cryptocurrency exchange on the planet in terms of users, was also in the news recently when the Brian Armstrong led company moved about $5 billion worth of cryptocurrencies on the platform. Coinbase had said:

“Last week we successfully completed an on-blockchain migration of approximately $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Generation Three to Generation Four of our cold storage infrastructure. To our knowledge, this is the largest movement of cryptocurrency (certainly in USD terms, potentially in absolute terms) ever undertaken.”

The company had said that the main focus was on cold storage or storing assets offline. In their words:

“Last week we successfully completed an on-blockchain migration of approximately $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Generation Three to Generation Four of our cold storage infrastructure. To our knowledge, this is the largest movement of cryptocurrency (certainly in USD terms, potentially in absolute terms) ever undertaken.”



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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

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