Ripple Helps Transfer 110.3 Million XRP, Some of It Goes to Binance and Bitso
- 8th April 2021
- Posted by: Hakeem
- Category: Crypto
Data shared by blockchain coin tracker Whale Alert says that, in the past 20 hours, a staggering 110,300,000 XRP has been shifted.
Among the parties participating in these transactions are Ripple, its major ODL corridor, Coinbase, Binance and other exchanges.
Almost $100 million in XRP shifted
According to Whale Alert, over the past 20 hours, multiple crypto exchanges, as well as the Ripple blockchain decacorn, have moved an aggregate $97,823,093 worth of XRP: 110,300,000 coins.
Ripple transferred 12 million XRP to the Binance crypto trading platform and sent 10 million tokens to Bitso, its ODL platform in Latin America (based in Mexico) that spreads the On-Demand Liquidity tech around the region.
U.Today has reported from time to time that Ripple has sent substantial lumps of XRP to the Binance exchange to ensure the coin’s liquidity on the trading platform.
Poloniex exchange has shifted over 21 million XRP between its wallets.
Ripple scores a legal victory against the SEC
As covered by U.Today earlier, the federal court had ruled that the U.S. securities regulator has to satisfy the demand of Ripple’s lawyers to produce documents regarding Bitcoin and Ethereum to be looked at further.
Those documents show the basis for considering the two biggest cryptocurrencies non-security assets by the SEC, unlike Ripple-affiliated XRP.
Prior to that, Ripple also managed to reach a consensus with the SEC about submitting partly redacted documents that contain information regarding Ripple’s finances and some of its institutional investors.
XRP steps back to fifth place
After both of these pieces of news, earlier this week, XRP managed to retake its fourth spot on CoinMarketCap and hit a high above $1.
As of press time, XRP is sitting in fifth place (Tether’s USDT occupies the fourth position) and is changing hands at $0.99.