XRP whales are making big waves, moving over 200 million tokens to start the new year.
According to new data from the whale measurement platform WhaleAlert, it was 70,000,000 XRP touched from a stranger wallet to crypto exchange Bitstamp yesterday in two separate transactions.
“40,000,000 XRP (13,485,157 USD) was transferred to Bitstamp from an unknown wallet…
30,000,000 XRP (10,113,868 USD) was transferred to Bitstamp from an unknown wallet.”
In addition to the large Bitstamp transactions, WhaleAlert also offers finds that on the first day of the new year almost 150,000,000 XRP were transferred between two unknown wallets.
“Transferred 148,700,000 XRP ($50,372,552) from unknown wallet to unknown wallet.”
Both wallets are unidentified and have no registered usernames with XRPL explorer Bithomp.
Overall, the value of the transactions in US dollars (USD) adds up to over 74 million US dollars.
Also Whale Alert before the New Year’s shops sighted 500 million XRP tokens will be unlocked from escrow on New Year’s Eve.
“500,000,000 XRP (170,074,826 USD) unlocked from escrow at unknown wallet.”
Simultaneously Whale Alert reported another 400 million tokens will be activated by the trust in another transaction.
“400,000,000 XRP (136,059,860 USD) unlocked from escrow at unknown wallet.”
XRP is trading at $0.354 at the time of writing. The popular altcoin is up 4% over the past 24 hours but is down 60% year-on-year.
Ripple Labs has been in litigation with the US Securities and Exchange Commission (SEC) for over two years. The SEC sued Ripple in December 2020, alleging that Ripple illegally sold XRP as an unregistered security for years and that XRP remains a security to this day.
Last week, the SEC made an attempt to seal critical documents related to internal deliberations over a 2018 speech by former SEC official William Hinman, when Hinman stated in his official capacity that he believes in both Bitcoin (BTC) and Bitcoin to Ethereum (ETH). ) are not securities.
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Featured image: Shutterstock/Pavel Chukhov/INelson