Home / Crypto News / Ripple Labs transfers $ 755 million in Ripple XRP for less than 1 US cents

Ripple Labs transfers $ 755 million in Ripple XRP for less than 1 US cents


The company Ripple Labs welcomed the new year with a bang and immediately transferred a large sum of Ripple XRP. A so-called “whale watcher” has tracked down a number of big transactions from Ripple Labs. Not only the value of the transmitted ripple XRP is considerable, but also the minimum charges.

That's how Ripple Labs has done seven major transactions. More than 2 billion (more precisely: 2,133,569,088) ripple XRP were transmitted. These had a total value of 755 million US dollars. Each transaction took about 4 seconds to complete. Together, the fees for all transactions were less than 1 US cents.

,8 🚨 🚨 107,866,784 #XRP (38,219,751 USD) from from R O O O O wall wall wall wall wall wall wall wall wall wall <<<<<<

Tx: https://t.co/ehZBbPDGZN

– Whale Alert (@whale_alert) January 1, 2019

According to the Twitter user “Whale Alert”, Ripple Labs believes that the majority of this ripple XRP has been transferred to trust custody. The company Ripple Labs holds about 60 percent of the total amount of Ripple XRP. The main body of this ripple XRP is in custody.

Ripple OTC Trading

Certain transactions were apparently intended to transfer Ripple XRP into the ripple wallets for over-the-counter trading. Ripple Labs regularly sells Ripple XRP to institutions through over-the-counter trading.

These big transactions from Ripple Labs are following a busy month in December of the Coinbase crypto exchange. Last month, the crypto exchange accounted for 5 percent of all circulating Bitcoin, as well as 8 percent of all outstanding Ethereum coins and 25 percent of all Litecoins. The company wanted to reorganize its assets and ensure that all its resources are optimally secured.

Sources: Twitter 1, Twitter 2, The Coinbase Blog, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-labs-transferiert-755-millionen-usd-in-ripple-xrp-fuer-weniger-als-1-us-cent/

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