Massive XRP Token Release: 1B Tokens Unlocked from Escrow
- Ripple’s escrow system unlocks 1 billion XRP tokens on June 1.
- The Escrow system was created back in December 2017.
- Ripple initially placed 55 billion XRP in escrow accounts.
Ripple Labs unlocked 1 billion XRP coins from their escrow. The unlocking process took place through three separate transactions on June 1, as reported by Whale Alert. The first transaction involved the release of 300 million XRP tokens at exactly 00:00 AM (UTC).
Shortly after, another 200 million XRP tokens were unlocked in a subsequent transaction. Lastly, Ripple unlocked an additional 500 million XRP tokens. As of the time of the announcement, the total value of the 1 billion XRP coins was estimated to be around $508 million.
— Whale Alert (@whale_alert) June 1, 2023
The recent unlocking of XRP coins is in line with Ripple’s monthly XRP distribution strategy, which has been in place since 2017. This strategy involves releasing XRP coins from escrow accounts in a controlled manner, aiming to preserve the stability of the asset’s price.
The escrow system used by Ripple…
The post Massive XRP Token Release: 1B Tokens Unlocked from Escrow appeared first on Coin Edition.
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Massive XRP Token Release: 1B Tokens Unlocked from Escrow
- Ripple’s escrow system unlocks 1 billion XRP tokens on June 1.
- The Escrow system was created back in December 2017.
- Ripple initially placed 55 billion XRP in escrow accounts.
Ripple Labs unlocked 1 billion XRP coins from their escrow. The unlocking process took place through three separate transactions on June 1, as reported by Whale Alert. The first transaction involved the release of 300 million XRP tokens at exactly 00:00 AM (UTC).
Shortly after, another 200 million XRP tokens were unlocked in a subsequent transaction. Lastly, Ripple unlocked an additional 500 million XRP tokens. As of the time of the announcement, the total value of the 1 billion XRP coins was estimated to be around $508 million.
— Whale Alert (@whale_alert) June 1, 2023
The recent unlocking of XRP coins is in line with Ripple’s monthly XRP distribution strategy, which has been in place since 2017. This strategy involves releasing XRP coins from escrow accounts in a controlled manner, aiming to preserve the stability of the asset’s price.
The escrow system used by Ripple…
The post Massive XRP Token Release: 1B Tokens Unlocked from Escrow appeared first on Coin Edition.
Read More
Chart Whisperer Says XRP Shows A ‘Purer’ Market Structure – Details