Ripple Labs transfers 27.7 million XRP tokens to Bitstamp
Ripple Labs recently transfer red a substantial amount of its cryptocurrency, with a total of 27.7 million XRP, valued at roughly $14.4 million , to Bitstamp. According to the data from Whale Alert, the transfer originated from a wallet not immediately identifiable. However, Bithomb Explorer’s deeper Analysis indicated that the wallet is linked to Ripple Labs, with a transaction history dating back to February 2022. This wallet has demonstrated consistent outflows, suggesting it’s a primary channel for Ripple Labs to manage its financial assets. 27,700,000 #XRP (14,482,315 USD) transfer red from unknown wallet to #Bitstamphttps://t.co/JmHPN5e6CS — Whale Alert (@whale_alert) January 28, 2024 You might also like: Tether minted another $1b USDT on Tron, here’s why Such large-scale transfer s are not unusual for Ripple Labs, particularly in light of its monthly escrow releases. The monthly escrow is in place to create certainty of XRP supply at any give...