256 Million XRP Transferred from Coinbase Wallet

256 Million XRP Transferred from Coinbase Wallet

Popular crypto tracking platform Whale Alert has spotted that a whopping 256 million XRP tokens have been wired by the largest US-based crypto exchange Coinbase in a single transaction.

That amount of crypto is equal to $300,776,300 USD at the current XRP price of $1.13.

Coinbase moves 256 million XRP internally

Data shared by the analytics website Bithomp, that works with XRP, has revealed that the transaction was performed between internal wallets of Coinbase.

Curiously, the Nasdaq-listed crypto trading venue suspended XRP trade in January this year, along with several other major exchanges, such as Bitstamp, Binance U.S., and others, after the US SEC regulatory agency had initiated a legal suit against Ripple Labs in December 2020.

The community expected Coinbase to reinstate XRP on its platform on July 28, since this was the data when the SEC chairman Gary Gensler had to provide a detailed plan on crypto regulation to the Democratic Senator Elizabeth Warren. The latter is a member of the Democratic party and the chairperson of the Senate Banking Committee's Subcommittee on Economic Policy.

She is a vocal critic of cryptocurrencies on the whole and reckons that due to their high volatility level, cryptocurrencies impose great risks to consumers and financial markets.

Binance shifts 100 million XRP to China

Large transactions of XRP were detected by Whale Alert earlier this week too. Top-tier crypto exchange Binance transferred a staggering 100 million XRP tokens in two lumps (60 million and 40 million XRP).

The recipient was the largest crypto exchange in China – Huobi.

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