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Ripple Helps Move 31 Million XRP, While Number of XRP Whales Soars in Q1

1 Mins read

Ripple blockchain decacorn has helped major exchanges to shift a close to $50 million XRP tokens. Meanwhile, from the company’s recent markets report it is clear that the first quarter of 2021 whales have been actively purchasing XRP.


Ripple moves XRP to Bitso and Huobi

Data shared by crypto tracker Whale Alert shows that in the past twelve hours, Ripple decacorn has shifted 10 million XRP to its Mexico-based ODL partner Bitso and moved seven million XRP the biggest Chinese exchange – Huobi.

In total, 31 million XRP has been moved, equaling to $49,361,254. The rest of these funds were transferred by the Kraken exchange and a major Turkish crypto trading platform BtcTurk.

Bitso turns into crypto unicorn

As reported by U.Today earlier this week, Bitso exchange has turned in the first crypto unicorn in the Latin America region. After the $250 million investment raised recently, its market capitalization surged to the $2.2 billion level.

This Series C investment round, in which the funds were obtained, was driven by such major companies as Coatue and Tiger Global.

In October 2019, Ripple also made an undisclosed investment in the Bitso exchange and compelled it to start using its ODL product.

Number of XRP whales spikes in Q1

In the new markets report for Q1, Ripple has covered several important aspects, including the spike of XRP sales by ninety-seven percent this year.

This sharp increase was attributed to a higher engagement of Ripple customers with its ODL service for transnational transfers of funds.

Data from the report has also shown that in the first quarter of the year, a heavy accumulation of XRP tokens took place in the market.

The number of wallets with extremely large amount of coins (also known as “whale” wallets), has gone up high.

Addresses that hold a minimum of 10 million XRP rose in number from 308 to 319. Number of wallets, holding between 1 million and 10 million XRP has surged from 1,125 to 1,196, according to the Ripple report.

Image via Ripple

Also, in Q1 Ripple released three billion XRP from escrow. 2.7 billion coins was returned and put into new escrow contracts.

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