$932,917,215 in Bitcoin (BTC) on the Move As Ripple Unlocks 500,000,000 XRP

Two massive crypto transfers just hit the Bitcoin ledger, moving nearly $1 billion worth of BTC.

The two separate transfers, both worth exactly 49,852.168 BTC, processed at 02:11:53 UTC on Saturday. The fee for each transfer cost just 47 cents.

According to the crypto tracker Whale Alert, one of the transfers sent BTC to the US-based crypto exchange Bittrex. The other transfer was recorded as completely unknown.

Back in December, Bittrex was tied to a series of huge Bitcoin transactions totaling about $9 billion in BTC.

At that time, Bittrex announced it was undergoing scheduled maintenance when the large transfers occurred. This time around, the exchange has remained quiet.

Meanwhile, Ripple has unlocked a massive amount of XRP from escrow. The move makes the funds available for Ripple to sell for cash.

Ripple owns about half of the total supply of the digital asset and typically sells millions of dollars worth of XRP each month. However, in recent months, the San Francisco-based fintech company has lowered the amount of XRP that’s up for sale.

In the fourth quarter of 2019, Ripple says it stopped its practice of selling XRP on cryptocurrency exchanges, selling $13.08 million worth of XRP to institutions over the counter.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Bruce Rolff

The post $932,917,215 in Bitcoin (BTC) on the Move As Ripple Unlocks 500,000,000 XRP appeared first on The Daily Hodl.