A huge transfer of 20 million XRP tokens to a well-known volume exchange was reported by WhaleAlert today, in an unexpected development that raised questions regarding the sender’s identity and the potential effects on XRP’s market value. With XRP currently trading at $0.63, this transaction is worth an astounding $12.6 million.
WhaleAlert classifies the address as unknown, leaving the sender’s identity a mystery. But according to information obtained from the Bithomp explorer, this mysterious wallet was established in June 2021 and has 188.88 million XRP in it as of right now.
It is unknown whether this wallet is owned by the exchange itself, but it is intriguing that it chooses to transmit tokens to the Bybit exchange.
Mt. Gox, again
This big move comes at the same time as news surfaced that Mt. Gox, the defunct exchange, was starting to pay consumers back after going silent for more than ten years.
Refunds in Japanese yen have been confirmed by a few Reddit users using PayPal, which is a historic milestone following Mt. Gox’s protracted shutdown and several delays in paying out compensation.
Significant participants in the cryptocurrency market, including XRP and Bitcoin, have been impacted by this discovery. While XRP fell 3.6% since the start of the day, Bitcoin fell to a weekly low of $42,850. The total market capitalization of cryptocurrencies has decreased by 1.7%, or an astounding $27.7 billion.
