Yesterday night, it became clear once again how cheap it is to send money through the Ripple Blockchain. Nearly seven billion Ripple XRPs worth a total of $ 2.3 billion have been moved. The transfer took place in two transactions that were not hidden from the community. The transferred Ripple XRP together made up about 13 percent of the total Ripple XRP.
The Twitter bot “XRPLMonitor” reported about 2.1 billion Ripple XRP's first transaction. Also the second, even larger transaction became known over “XRPLMonitor”. The second transaction was over $ 4.6 billion Ripple XRP.
Transaction Type: Payment
Amount: 2,139,999,979 XRP
Fee: 12 drops (0.000012 XRP)
Sender Balance: 20.998428
Receiver Balance: 2,140,000,078.993
– XRPL Monitor (@XRPL_Monitor) August 28, 2018
A follower of Ripple XRP found that the transfer lasted only seconds. Also, the transfer of 1.4 billion Ripple XRP had cost less than 1 US cents and was done without middlemen.
It cost under 1 cent to move 1.4 billion USD.
It only took a few seconds to move it.
It did not require intermediary to move it.
Any questions? #bitcoin #btc @swiftcommunity #xrpthestandard #xrpthebase #xrp
– C3 | Nik (@ C3_Nik) August 28, 2018
Who transferred the Ripple XRP Coins?
After that, the community on Twitter started speculating on who and why these transfers were made. Some observers believed that perhaps a large crypto exchange had made the transfer. Maybe this was done in support of the new xRapid system. The ripple xRapid system is supported by Bittrex, Bitso and Coins.ph. Other observers, on the other hand, assumed that these were transactions by Ripple Labs. With these, the company had wanted to demonstrate the capabilities and cost savings of its system.
Twitter user Erik van Dijk believed that the broadcaster's sender account was pointing to Jed McCaleb. McCaleb is the former CTO of Ripple. The New York Times had assumed in January that it would hold Ripple XRP worth about $ 20 billion. In January, however, a ripple XRP was worth $ 2.73. Yesterday, the price was $ 0.32. Grossly calculated, McCaleb's Ripple XRP would have been worth $ 2.3 billion yesterday, which would be the value of the transferred ripple XRP.
– Erik van Dijk ⚡️ (@ErikvanDijk) August 28, 2018
According to the same source, the second sender account would be that of a Ripple board member, a stake, or a partner.
Users then discussed various theories on Twitter. They also considered whether Ripple wanted to demonstrate to potential institutional investors or other interested parties that the market could not be influenced. This is especially true for individual large investors who hold huge amounts of cryptocurrencies. With McCaleb, that could be a double problem for Ripple. As the co-founder of Stellar, McCaleb is clearly a clear rival to Ripple.
The reasons for these big transfers may become clearer in the coming days. However, you can already see one thing: it's an impressive demonstration of how cryptocurrencies are changing the way we transfer money.
Sources: Twitter 1, Twitter 2, Twitter 3, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/breaking-ripple-xrp-im-wert-von-23-milliarden-usd-transferiert/
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