"XRP, 500 Million Unlocked from Escrow Wallet... Worth Approximately ₩1.5 Trillion"
Summary
- "It was reported that 500 million tokens were unlocked from the XRP escrow wallet."
- "The transaction is worth approximately ₩1,518,500,000,000, which is a volume that could have a significant impact on the market."
- "Ripple is maintaining the practice of redepositing some of the unlocked XRP to secure operating funds and ensure supply stabilization."
It has been reported that a large amount of token lockup has been released from the XRP escrow wallet.
According to the on-chain tracking account Whale Alert, on the 4th, 500 million XRP in escrow were unlocked from an anonymous wallet address. This transaction was processed as a single transaction. The transaction was worth approximately $1,118,930,000 (about ₩1,518,500,000,000).
As of 16:05 on this day, based on the Binance USDT market, the price of XRP was trading at $2.22315, down 1.91% from the previous day.
Meanwhile, Ripple has been maintaining an operational method of locking up 55 billion XRP since 2017 and sequentially unlocking 1 billion each month, redepositing a portion. This approach is explained as simultaneously pursuing the securing of operating funds and supply stabilization.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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