Lawyer John Danton: Vitalik Buterin Offered ETH as a Security than Any Specific Sale of XRP
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Ripple, the cross-border payment company has moved 55 million XRP worth $10 million, as Whale Alert hints at the transfer of 273,712 ETH worth $51 million.

Consistent reports of crypto whale trackers indicate that there has been a movement of funds from one wallet to another. The reason for the increase in the movement of funds remains unknown.

Ripple Is Moving Funds between Its Own Wallets

Ripple is beginning to move millions of dollars to close out the week. According to the report shared by XRPL Monitor, the cross-border payment company is moving funds between its own wallets.

Data from Bithomp, the Whale tracker, shows that a transfer of 55 million XRP worth $10 million hit the XRP Ledger on 24th April 2020, and the cost of the transaction was less than a penny.

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“Transaction Type: Payment Amount: 55,000,000 XRP Fee: 100 drops (0.0001 XRP). Sender: Ripple. Sender Balance: 14,107,615.129711. Receiver: Ripple. Receiver Balance: 57,711,322.303798,” XRP Monitor Reported.

Obviously, Ripple owns relatively 60% of the 100 billion XRP in circulation. And the payment startup sells part of its XRP holding to the third parties, from its escrow wallets on a monthly basis. According to record, Ripple sold a sum of $13 million in XRP directly to institutions in the last quarter.

Ethereum (ETH) Whale Transfers 273,712 ETH worth $51 Million

Also, Ethereum (ETH) whales are also in action over the past hours. According to Whale Alert, the live tracker of large crypto transactions from and to exchanges, an ETH whale transferred 273,712 ETH worth $51 million, from an unknown wallet to another.

Going by the report, the huge transaction was effected on 24th April 2020, at 19:09:26 UTC, from an unknown wallet 0x662c1d33923f1b48b5cdc1f4570423ec1ced1228 to another wallet 0x97e935ddf3f5a2c4291e38f106194bb507dd28f9.

The Situation of Ripple’s XRP and Ethereum (ETH) in the Market

Both Ethereum (ETH) and Ripple’s XRP are seemed subjected to the same market situation at the moment. The two largest altcoins in the market have not recorded huge price losses or gains over the past hours.

At press time, XRP is trading at $0.193739, with a 0.85% price plummet in the 24 hours, while ETH trades at $188.73, with a 0.05% price decrease based on 24 hours estimation.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.