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Summary
A recent financial audit reveals a whale moved 240.85 million XRP, valued at $127 million, from Coincheck to an unknown wallet. The recipient wallet has been consistently receiving large XRP transfers from Coincheck since February 2024, amid XRP’s struggle to maintain the $0.53 price threshold.
Introduction
A financial audit uncovered a significant whale transaction involving 240.85 million XRP, equivalent to $127 million, originating from Coincheck and sent to an unknown wallet. The recipient wallet, active since February 2024, has been a consistent target of hefty XRP transfers from the Japanese exchange.
Main Points
Blockchain records show the recent 240.85 million XRP transfer from Coincheck to an unknown wallet, continuing a pattern of high-volume transfers from the exchange to the same recipient address. The recipient wallet, potentially owned by Coincheck, has only moved out 300K XRP since activation, holding a balance of 602 million XRP tokens.
The whale transaction coincides with XRP’s battle to stay above the $0.53 price mark during a market lull. XRP is currently trading at $0.5248, with a 1.95% decrease in the last 24 hours and a trading volume drop of 30.05%.
Conclusion
The recent whale transaction involving 240.85 million XRP worth $127 million has raised curiosity within the cryptocurrency community. The ongoing transfer activity from Coincheck to the recipient wallet underscores the significance of this transaction amidst XRP’s price volatility and market conditions.
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