HomeCrypto NewsAltcoinRipple keeps sending XRP to Huobi on a weekly basis

Ripple keeps sending XRP to Huobi on a weekly basis

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Ripple keeps sending XRP to Huobi on a weekly basis

According to Whale Alert, over the past 10 hours, popular crypto exchanges have moved around 150 million XRP. Meanwhile, Chinese exchange Huobi regularly receives XRP from Ripple.

Ripple start transferring XRP to Huobi last year and it has continued to happen steadily to this day.

Ripple moves XRP to Huobi

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Whale Alert recently reported that there were two bulk XRP transactions conducted by unknown addresses, the first carrying 70.001.269 XRP and the second carrying 79.299.696 XRP – 149.300.965 in total. XRP has been moved.

However, a few hours later, Bitthump XRP analysis data showed that the unknown addresses were in fact owned by the exchange. bybit , and Binance.

Of which, Bybit transferred 70 million XRP to the Binance wallet, then Binance transferred 79 million XRP back to the internal wallet.

move xrp

According to a report from Bithomp, Ripple continues to send XRP on a weekly and daily basis to China's largest exchange, Huobi Global. So far, in December of last year and January of this year, blockchain giant Ripple has transferred a total of 12 million XRP via Huobi.

Every week, a different amount of XRP is transferred to Huobi.

For example, last December, weekly XRP transfers through Huobi ranged from 12 million XRP to 2.2 million XRP. While in January, the weekly amount of XRP sent to Huobi varied from 1.6 XRP to 1 million XRP.

ripple send xrp to huobi

In September 9, the top management of Huobi decided to stop operating in the Chinese market. As of December 2021, Huobi closed all trading activities with the Chinese yuan.

Since Huobi announced its exit from the Chinese market, several other smaller exchanges have followed Huobi's footsteps in migrating to countries with a more crypto-friendly regulatory environment.

Not only Huobi, in September 9, Binance announced that it would close the new registration portal for Chinese users, CoinEx and Renrenbit also issued a similar statement.

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