A massive transaction involving XRP has just happened as per the famous blockchain transaction tracking platform Whale Alert. As per the report, a staggering amount of 20 million XRP has been transferred to the famous cryptocurrency exchange Bithumb from an unknown cryptocurrency wallet. Reportedly, the transaction occurred a few hours ago on the 13th of May.
$50 Million Worth Of XRP Just Transferred To Bithumb
The transfer is massive as it carried 20,000,000 XRP coins. The total worth of these XRP coins transferred to the Bithumb digital currency exchange from the unknown wallet is around $50 million.
This transaction has occurred as a result of the fluctuation price movements shown by the fourth largest digital currency over the course of the past few weeks. Bithumb is the second largest digital currency exchange in South Korea and such a massive transfer to this major crypto exchange has arisen speculation in the cryptocurrency community. Some believe that it might be a fine paid to the US Securities and Exchange Commission.
The wallet addresses of both sender’s and receiver’s which were used in this transfer belong to the Bithumb exchange. A total of more than $1.5 billion XRP is still present in the wallet of the sender.
A Crypto Whale Makes $7.5 Million Profit On XRP
As the price value of XRP has increased over the course of the past few days, an unknown cryptocurrency whale has earned a staggering profit from this rise in the price value of XRP.
The crypto whale was trading long on the two major cryptocurrencies Ethereum (ETH) and XRP and has earned an amount of nearly $8 million in profit, as per data shared by famous blockchain analytics platform Lookonchain. The whale has to close its long positions on ETH and XRP after locking the profit as the market started pulling back.