A multi million-dollar stash of XRP is on the move.
The blockchain tracker Whale Alert has spotted more than 220 million XRP worth about $122 million heading from Coinbase to an unknown wallet.
The fee for the huge transfer was just 20 XRP worth about $1.05.
The transaction comes nearly a month after trading of the seventh-largest cryptocurrency by market cap was suspended on Coinbase.
Users can still move their XRP off of the exchange to a private wallet. This means the owner of the XRP in question could be preparing to move it to another exchange where it can still be traded, or is simply tucking it away for safekeeping.
XRP trading has been suspended on a long list of US-based crypto exchanges following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs, which asserts that XRP is an unregistered security and alleges that Ripple violated securities laws by selling the digital asset.
Meanwhile, Bitcoin and