Cryptocurrency news

$ 220 million worth of XRP from Ripple’s Escrow Wallets!

$ 220 million worth of XRP from Ripple’s Escrow Wallets!

As usual, Ripple extracts and launches a large amount of XRP from its safety wallets, and now a new one has been added. Ripple has released 1 Billion XRP worth $ 220 Million from its purse. In this new month, which we welcomed with the end of April, Ripple continued its transfers and unlocked 1 Billion XRPs.

As Theblockchainnew has previously reported , crypto -focused payment company Ripple has made these transfers a habit and continues to unlock certain amounts of tokens every month. (Which was very controversial.) The company unlocked this month’s tokens yesterday.

Unlocked 1 Billion Tokens!

According to the tweets shared by the Whalealert (@whalealert) Twitter account, Ripple transferred these tokens that he unlocked yesterday in three ways: with 3 transfers of 500 million, 400 million and 100 million.

As of now, the total XRPs opened in May are worth 220 million dollars. Why Ripple unlocks hundreds of millions of tokens remains a mystery for the cryptocurrency community.

According to another tweet shared by @Whalealert Twitter account, McCaleb received 63 million XRP in April; The total number of XRP is estimated to be over 4.5 billion XRP. These numbers make McCaleb one of the richest people in the cryptocurrency world.

Problems Grow For Ripple

Ripple’s monthly token unlock has been criticized by many analysts. The reason for this still remains mysterious, and nobody knows why, except for Ripple’s senior officials. This has led to many charges against Ripple, just like the PLUS token deception.

Large cryptocurrency exchanges like BitMEX also accused Ripple of fraud, and cold winds blew between them and Ripple since then.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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