The cryptocurrency tracking service Whale Alert tweeted that in the past sixteen hours, San Francisco-based Ripple has transferred 100 million XRP to one of its additional wallets.
Data from Bithomp shows that this massive amount of XRP will be sent to Huobi exchange in chunks, and the first transfer has already been made.
Ripple Prepares To Move 100 Million XRP To Huobi
Data shared by Whale Alert says Ripple has shifted 100 million XRP to the RL18-VN wallet, which the company frequently uses to move funds to other platforms. This corresponds to $ 163,418,644.
According to analytics platform Bithomp, this money will be sent to Huobi in stashes of 7 million a day. This process was carried out last week. The site shows that on April 22, Ripple moved 100 million XRP to the same address, followed by 15 transfers to Huobi.com. The last of the transfers, most of which carried 7.5 million XRP, was made with seven million XRP.
Now, it seems likely that this will happen again, as another 100 million XRP has been moved to the wallet. The first batch of 7 million XRP has already been transferred.
The Number Of XRP Whale Wallets Is Increasing
In its first quarter markets report, Ripple shared that it has seen a 97% increase in XRP sales this year. This growth is attributed to a higher engagement with the On-Demand Liquidity service demonstrated by Ripple partners and customers in the first quarter of 2021.
The report also says that there has been an increase in the amount of XRP whales. The number of wallets with at least 10 million XRP increased from 308 to 319. The number of addresses holding between one million and ten million XRP increased from 1,125 to 1,196.