2024

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to <a href="https://twitter.com/whale_alert/status/1741790592244261161" rel="noopener noreferrer nofollow">Whale Alert</a> reporting, Ripple sent back 800 million XRP, worth about $492.5 million, to its escrow system after unlocking 1 billion XRP, worth about $610 million, on Jan. 1, 2024. This action is part of Ripple's monthly routine of releasing and relocking a fixed amount of XRP from its escrow.
Per crypto data tracker Whale Alert, the XRP move back to the Ripple escrow was done in two transactions.
<blockquote>
 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 500,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (308,354,921 USD) locked in escrow at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a><a href="https://t.co/MAtj53YQDa" rel="noopener noreferrer nofollow">https://t.co/MAtj53YQDa</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1741790592244261161?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 1, 2024</a>
</blockquote>
In the first transaction, Ripple relocked 500,000,000 XRP worth $308,354,921 in its escrow. The second transaction returned to <a href="https://twitter.com/whale_alert/status/1741788025246413033" rel="noopener noreferrer nofollow">Ripple escrow</a> was 300,000,000 XRP valued at $184,222,995. This comes after Ripple performed its monthly unlock of XRP tokens from its escrow.
<blockquote>
 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 300,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (184,222,995 USD) locked in escrow at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a><a href="https://t.co/UthQBpJCgf" rel="noopener noreferrer nofollow">https://t.co/UthQBpJCgf</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1741788025246413033?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 1, 2024</a>
</blockquote>
<a href="https://u.today/ripple-and-large-whales-millions-in-xrp-sales-now-at-loss-heres-reason" rel="noopener noreferrer nofollow">Ripple</a> released 1 billion XRP from its escrow earlier today in three transactions of 500 million, 400 million and 100 million XRP, according to Whale Alert.
Ripple's holdings are divided into two categories: XRP that it presently owns in its wallets and XRP that is subject to on-ledger escrow lockups that will be released monthly for the next 39 months.
Ripple does not have access to the latter category of XRP until the escrow releases it to Ripple monthly. The vast majority of this XRP released is returned to escrow.
The Ripple escrow system was launched in December 2017 to ensure predictability and stability of the XRP market. This escrow mechanism is planned to last until all 55 billion XRP have been released.
At the time of writing, XRP was trading at $0.62, down 0.21% in the last 24 hours, and had a market capitalization of $33.56 billion, making it the sixth-largest cryptocurrency by market cap.

Massive 800 Million XRP Returned to Escrow by Ripple: Details

U_Today

Andere artikelen gepubliceerd op 1 jan 2024

How Is ADA Strategically Positioning Itself Within the $0.63 to $0.84 Range?

BNB price to stay above $300? What the prediction says

DeFi Redefined: OKX Wallet Integrates with Amulet, Elevating User Earnings on Avalanche

NFTs Will Make a Major Comeback in 2024 — Here Are The Best NFT Coins to Buy Now

Tellor (TRB) Price Rollercoaster: $68M Liquidated in 24 Hours Amid Extreme Volatility

2023 in Review: The Remarkable Bull Runs That Defined the Crypto Market

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!