Over 70 million XRP transferred to two Mega Transfer
The Ripple register has recorded several multimillion dollar transactions in the last days. On November 7, an XRP transaction of 50,000,000 was recorded by the Ripple register. The day after, 20,000,000 XRPs were also made. The senders of these funds paid 0.06 XPR and 0.000012 XRP respectively.
The Twitter account XRP monitor showed that these two transactions were performed a few days ago. The Twitter account provides information on large XRP transactions and information on the accounts that manage the funds.
In the transaction carried out on November 7, the sender apparently was the Bitstamp cryptocurrency exchange and the recipient was the same exchange as cryptocurrency. The sender balance ended with almost 15 million XRPs while the receiver had 1,064,408,109,41295 XRP.
Transaction type: payment
Quantity: 50.727.560.062526 XRP
Rate: 60,000 drops (0.06 XRP)
Sender balance: 14,999,999.94
Receiver balance: 1.064.408,109.41295
– XRPL Monitor (@XRPL_Monitor) November 7, 2018
The 20 million XRP transaction is related to an unknown sender and recipient. The sender has this address rPNoYpuAWywNA5CEDxirZ2BDYHG5du8Xf. The address of the recipient was rU1bPM4q2rVhC73F7znm7Lt5QnYzZsV35q. Information about it can be seen here.
The sender remained with almost 423 million XRP and the receiver recorded a balance of 25.4 million XRP.
A few days ago, we wrote about BitcoinExchangeGuide which was a new mega-transaction processed using XRP. One user was able to send 150 million XRPs in a single transaction. Some members of the community believe that this transaction was carried out by Ripple's founder, who controls a large amount of XRP coins.
Ripple's network and ecosystem has been deeply criticized several times for a very centralized economic model. The US Securities and Exchange Commission (SEC) did not comment on XRP as security. However, Ripple is doing everything possible to stay away from the XRP virtual currency.
A few weeks ago, David Schwartz, Ripple Chief Cryptographer, said that larger transactions in the Ripple network would require an increase in the price of XRP. By the way, he commented:
"The higher the price of XRP, the greater the payment ripple that can be addressed …"@JoelKatz #XRP #Ripple #XRPcommunity #XRPthestandard #crypto #micropayments #payments #blockchain #fintech #crypto #altcoins #finance #banking
* Infographics: Ripple and XRP * https: //t.co/ICQxJNIr8e pic.twitter.com/m9cLOtHo4U
– XRP_Cro (@stedas) 29 October 2018
XRP is currently trading around $ 0.5 dollars according to CoinMarketCap. It also has a market capitalization of $ 20 billion.