Ripple just unlocked a staggering amount of XRP from one of its escrow wallets, sending the funds to a separate, unknown wallet. The transfer of $1 billion XRP is worth about $302 million. The transaction cost less than one penny in fees and completed in a matter of seconds.
Ripple holds about 60% of the total supply of XRP, with most of it locked in escrow. The company regularly sells portions of its stash to institutions, crypto exchanges and other interested parties.
The transaction is similar to others that the San Francisco startup has made in the past. But in a unique twist, crypto whale watchers noticed the data from this particular transfer includes a memo with a mysterious message that says “Crawl… Walk… Run… ;)”.
Ripple sold a record-breaking amount of XRP last year, reaching a total of $535 million. You can check out the company’s fourth quarter report detailing all of its XRP sales here.
The Crypto Beat