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Mysterious 640,000,000 XRP Transfer Explodes XRP Army, Here’s What Really Happened
A mammoth amount of XRP has been moved in a matter of hours, sending shockwaves throughout the crypto community. The transactions, which involved the transfer of 640 million XRP, have sparked heated discussions and theories about the nature of these massive cryptocurrency moves.
Whale Alert, a prominent blockchain tracker that monitors large cryptocurrency transfers, has identified three separate transactions worth nearly $1.5 billion in fiat currency. Two of these transactions were consecutive, with all three originating from an anonymous wallet to another.
The community is abuzz as users debate the origins and implications of this enormous XRP movement. Some have speculated about whales accumulating XRP, while others believe Ripple has released a large amount of XRP from escrow before its usual timing.
However, according to data shared by XRPwallets, it appears that Ripple’s top partner in Japan, SBI, has sent 320 million XRP through two separate transactions of 160 million XRP each. These transactions were made on an anonymous wallet ending in -QjNRCZ and were processed via Bitgo’s internal initialization wallet.
While the exact destination of these funds remains unclear, it is evident that this massive transfer has significant implications for the cryptocurrency market.
Source: u.today
