
Binance and Coinbase are among the largest holders of Ripple’s cryptocurrency, XRP. According to a recent report by XRPwallets, a popular blockchain analysis account, the top 10 exchanges with the largest XRP holdings have been disclosed.
Surprisingly, Binance and Coinbase do not hold leadership in this regard. The largest XRP stash is held by Upbit, which holds an enormous 6.038 billion XRP. This staggering amount puts it at a significant distance from its closest competitor, Binance, which holds 2.735 billion XRP.
Coinbase, on the other hand, takes fifth place with 780.13 million XRP in its wallets. It is essential to note that while these exchanges are among the largest holders of XRP, they do not hold a majority stake in Ripple’s digital currency.
To put this into perspective, it is crucial to understand the context surrounding these findings. As per the data released by Whale Alert, two massive crypto transfers were recently spotted. These transactions carried approximately equal amounts of cryptocurrency, 50,527,326 XRP and 50,520,869 XRP, totaling $230.8 million.
It was initially unclear who was behind these massive transactions; however, XRPwallets has clarified the situation by stating that one transfer was an internal Coinbase transaction while another was sent to Coinbase from a Bitstamp sub wallet.
Source: u.today