According to the data made available by XRPL Monitor, Ripple’s On-Demand Liquidity (ODL) platform, Bitstamp, and other major players have transferred relatively 100 million XRP between each other. Some of the platforms involved are part of Ripple’s PayID project.
About 100 Million XRP Moved By Major Players
XRPL Monitor, the tracking bot that monitors and reports huge transactions of the digital token XRP, stated in a tweet that around 100 million XRP was moved by several major exchanges such as Bitstamp, Bittrex, Houbi, Binance, and Bitfinex.
According to the report, the Luxembourg-based Ripple’s ODL platform, Bitstamp moved 22.7 million XRP between its internal crypto wallets.
XRPL Monitor also noticed and reported the internal transfer of 35 million XRP by Huobi exchange and a similar amount of XRP was sent from Bitfinex to the cryptocurrency exchange.
Crypto exchanges such as Binance, BitGo, and Bitfinex are also involved in the whopping transfer as earlier mentioned.
Note: Huobi is one of the cryptocurrency-related companies that are presently working with Ripple on the project intended to make crypto payments as easy as sending emails, PayID.
At launch, PayID received support from a number of other cryptocurrency companies, such as BitGo, brave Browser, among others.
About Ripple’s On-Demand Liquidity (ODL)
On-Demand Liquidity (ODL) is Ripple’s XRP-powered product that allows moving funds via RippleNet without having to pre-fund the account of the recipient.
There are several ODL corridors used by the US-based blockchain payment firm. These corridors include South Korea, Australia, Mexico, Japan, the Philippines, and others.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.