Ripple continues to send its cryptocurrency to the largest Chinese trading hub, as recent analysis data shows major exchanges transferring 270 million XRP.
Data shared by the Whale Alert Crypto tracking service shows that a massive total of 270 million XRP has been sent by several major exchanges in the past 20 hours.
Ripple continues regular XRP transfers to Huobi, slightly reducing its daily stash.
270 million XRP on the move
According to tweets shared by Whale Alert, in the past 20 hours several top crypto exchanges have transferred 269.5 million XRP in three transactions.
This equates to $239,232,115 in fiat currency.
Exchanges involved in the transfers include Huobi, Binance, Coinbase and Bybit. The largest amount of Crypto (175,434,574 XRP) moved from Bybit to Binance.
Bitstamp transferred 64.5 million XRP to Coinbase and Huobi sent 30 million tokens to Binance.
Ripple sends another stash of XRP to Huobi
Fintech firm Ripple continues to send XRP assets to Huobi, the largest crypto platform in China.
Since June 6, the daily amount of XRP sent to Huobi by the company has been 5,275,250 tokens. Prior to this, Ripple had sent 6,679,600 XRP to Huobi for a week.
Ripple has been doing this for a few months already. A specific reason for these transfers has not yet been stated.
At the time of writing, XRP, the seventh largest cryptocurrency, was trading at $0.88, according to CoinMarketCap.