Today, Ripple DLT decacorn has again unlocked one billion XRP tokens as it does at the beginning of each month. This was done in two transfers of 500 million tokens each.
At the current $ 1.57 XRP price, the total value released accounts for $ 1.6 billion.
Fintech giant Ripple traditionally unlocks a billion XRP on the first day of each month. The goal is to support the liquidity of the token in crypto exchanges, send some of it to Ripple’s partners and customers, and use XRP to meet the company’s current operational expenses.
The process in question has been carried out regularly for several years. However, with a decision the company has made, it has started to lock a large part of the XRPs it has unlocked since 2020.So most of the cryptocurrencies released, approximately 80-90%, usually lock again on the same day. In addition, these programmed XRP withdrawals do not affect the price of the token.
In addition, according to the latest posts published by Whale Alert, 69.7 million XRP has been transferred by Ripple and several major crypto exchanges in the last ten hours. The platforms involved in these transfers are Bittrex, Huobi, Upbit, Bitstamp.