Whale Alert, the leading blockchain platform for tracking large cryptocurrency transactions, detected that two large XRP transfers were made more than 13 hours ago.
One of the companies providing these funds is Ripple, the San Francisco-based fintech giant that runs XRP Ledger and promotes itself as an XRP distributor to other companies and markets.
Ripple and Korea's Top Exchange Transfer 82 Million XRP
According to Whale Alert and some of its recent tweets, two XRPs containing 20 million and 62 million tokens were transferred in the last 14 hours.
According to additional data provided by Whale Alert, 62 million XRP were transferred between Bithumb's internal wallets. As for Ripple, it uses one of its additional wallets, RL18-VN, to connect 20 million tokens to its on-demand liquidity exchange Coins.ph in the Philippines.
As U.Today reported earlier, Ripple's two other ODL platforms – Bitso and Bitstamp – each received 20 million XRP
On-demand liquidity driven by XRP
Ripple and its customers use the ODL channel to make seamless cross-border payments quickly and inexpensively, without the need to prepay to a destination account. The ODL uses Ripple-affiliated XRP tokens, which are later converted to local fiat currency before reaching the recipient.