Ripple is starting off the New Year with a bang, moving huge amounts of XRP.
Whale watchers are tracking a series of huge transactions with remarkably low fees. In all, about 2,133,569,088 XRP worth roughly $755,702,929 has been transferred.
Each of the seven transactions took four seconds to complete, and the fees for all transactions combined cost less than one cent.
According to Twitter’s Whale Alert, the majority of the XRP appears to be Ripple shifting funds into escrow. The company owns about 60% of the total supply of XRP, with the majority locked in escrow.
Other transactions appear to represent Ripple moving XRP to its over-the-counter (OTC) distribution wallets. Ripple regularly sells XRP to institutions through over-the-counter deals.
🚨 🚨 🚨 107,866,784 #XRP (38,219,751 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet
— Whale Alert (@whale_alert) January 1, 2019
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,108,302,304 #XRP (392,781,994 USD) transferred from Unknown wallet to Ripple OTC Distribution wallet
— Whale Alert (@whale_alert) January 1, 2019
🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (70,942,212 USD) transferred from Ripple Escrow wallet to Ripple OTC Distribution wallet
— Whale Alert (@whale_alert) January 1, 2019
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 300,000,000 #XRP (106,413,318 USD) transferred from Unknown wallet to Unknown wallet
— Whale Alert (@whale_alert) January 1, 2019
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #XRP (177,226,199 USD) transferred from Ripple Escrow wallet to Unknown wallet
— Whale Alert (@whale_alert) January 1, 2019
7,400,000 #XRP (2,622,059 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet
— Whale Alert (@whale_alert) January 1, 2019
10,000,000 #XRP (3,543,323 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet
— Whale Alert (@whale_alert) January 1, 2019
The transactions come on the heels of a busy December from crypto exchange Coinbase.
Last month the exchange moved 5% of all Bitcoin, 8% of all Ethereum and 25% of all Litecoin in existence to reorganize its assets and ensure its funds are secure.
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