According to data reported by Whale Alert, a crypto whale has mined 270 million XRP from Bitstamp. These XRPs transferred to an anonymous wallet sparked speculation on social media.
A bot named Whale Alert, which monitors large-scale cryptocurrency transactions, tweeted about two different XRP transactions today. The information in these tweets showed that an XRP whale has released a total of 272 million XRP from the cryptocurrency exchange named Bitstamp. In the first of these transactions, which were made in two separate batches, 200 million and 72 million XRP were transferred in the second.
Millions of dollars of XRP in action
According to the information on Whale Alert’s website, the first of these transactions was carried out at 17:18 and the second at 17:19. These two transactions, covering a total of 272 million XRPs, were transferred to the address coded rG2bzZ2Q9JcpPeCyqXTQts6jHSYsX21G6a.
? ? ? ? ? 200,000,000 #XRP (50,725,485 USD) transferred from #Bitstamp to unknown wallet
Tx: https://t.co/03R50kbMy5
— Whale Alert (@whale_alert) October 26, 2020
According to current price data, the total value of these two transactions is almost 70 million dollars. The total transaction fee paid for these two transactions of tens of millions of dollars was 0.000090 XRP. The price per transaction was 0.000045 XRP.
His identity has already begun to be discussed
The address coded rG2bzZ2Q9JcpPeCyqXTQts6jHSYsX21G6a was defined as “unknown wallet” by Whale Alert. Therefore, it is not clear for now who this address belongs to. It can also be said that this address is not one of the addresses actively used by Ripple’s famous founding partner Jed McCaleb.
Social media users are trying to understand why this anonymous XRP whale is doing such a transaction. Responses to the Whale Alert post show that this may have been for the purpose of accumulation. Although cryptocurrency followers interpret the fact that these XRPs are out of the stock market as a positive development, it is a question of what exactly these XRPs will be used for.