1.1 billion XRP transactions ($ 392 million) are transferred to the OTC distribution portfolio

January 1, 2019 Ripple

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1.1 billion XRP transactions were transferred to the OTC distribution portfolio

The Ripple Ledger has seen a huge new transaction. According to the Whale Alert on Twitter, 1.108.302.304 XRP ($ 392.781.994) were transferred on January 1, 2019. According to this Twitter account, funds were transferred from an unknown portfolio to the Ripple PTC Distribution portfolio.

The transaction can be viewed through the Bithomp blockchain explorer. According to it, the transaction fee was only 0.005 XRP, equal to $ 0.00176664 at the time of writing. The receiving account has 4.516 billion XRP stored. This is more than 4.5% of the whole XRP supply. The transaction represents over 1.1% of the total XRP supply.

However, if we take into account the fact that currently only 40.79 billion XRPs are circulating, this portfolio has more than 10% of the total amount of circulating XRP.

Users on social media have discussed the reason for performing such a transaction. Some individuals believe that this could be related to a large sale or simply to funds that are transferred to be purchased by a group of institutions or large investors through OTC.

This is not the first time such a large transaction has been processed on Ledger XRP. Some time ago, we wrote about BitcoinExchangeGuide that there were 150 million XRP transactions for just 0.005 XRP in commissions.

The Twitter user CJK He also announced that the XRP community donated 40,000 XRPs to the St. Jude Children's Research Hospital during the CKJ Crypto News streaming a few days ago.

This shows that the cryptocurrency community is always open to help other foundations that are not necessarily involved in virtual currencies. There are many other philanthropic projects in space and the community is usually ready to help others.

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