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79.6 Million XRP Moved by Ripple Giant and Bitstamp After XRP Hit $1.76

Altcoins

u.today 06 May 2021 08:15, UTC
  
Reading time: ~2 m

Recently shared analytics data by Whale Alert shows that a total of 79.6 million XRP tokens have been moved in the past twenty hours. That took half a dozen transactions.

This happened while the fifth largest cryptocurrency XRP rose to the $1.76 peak earlier today after an over 15-percent increase. The coin did not hold there for long, though. By now, XRP has returned to $1.64.

$130 million worth of XRP on the move

Whale Alert crypto tracker has tweeted details of several major XRP transfers made by Ripple and several major exchanges in the past twenty hours.

Ripple blockchain decacorn continues to send seven-million portions of XRP to the Huobi exchange, this time the company has sent fourteen million in two transfers.

Bittrex, Ripple ODL corridor Bitstamp and major Turkish crypto exchange BtcTurk have wired the rest of the 79.6 million XRP.

Curiously, Bitstamp and Bittrex were among the numerous exchanges that suspended XRP trading back in January after the SEC regulatory agency initiated the legal action against Ripple, insisting that the blockchain giant had been selling unregistered securities (XRP), as well as a suit against its top executives – Chris Larsen and Brad Garlinghouse – for doing the same thing.

Bitstamp has moved over 26 million XRP to the BitGo custodial service that works with financial institutions.

The total equivalent of this XRP amount is $129,974,864.

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Galaxy Digital acquires BitGo

As reported by U.Today earlier, on Wednesday, CEO and founder of Galaxy Digital crypto fund, Mike Novogratz, announced that the company had acquired the BitGo cryptocurrency platform.

That is the second biggest crypto custodian after Coinbase, explained Novogratz, and now Galaxy Digital and BitGo will be able to offer their products to each other’s multiple customers.

Besides, Novogratz insisted that from this point on, Galaxy Digital has stopped being just a company that uses and invests in a blockchain infrastructure and become a company that build blockchain infrastructure.

The deal was closed for $1.2 billion paid in cash and Galaxy Digital shares.

Ripple ODL paltform Bitso becomes crypto unicorn

On Wednesday, it was also reported that Mexico-based Ripple ODL partner Bitso exchange had raised a whopping $250 million in Series C funding round.

Its valuation surged to $2.2 billion, which made Bitso the first cryptocurrency unicorn in Latin America.

In October 2019, Bitso also received an undisclosed investment from Ripple.


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