2023-05-04
Whale Alert reported that Ripple
unlocked 1 billion XRP into circulation on May 1. These 1 billion XRP worth $469.6 million. Ripple released 500
million XRP into 2 transactions.
Link: Whale Alert | Transaction Details (whale-alert.io)
The unlock XRP is a part of Escrow
system. Ripple programmed smart contracts to lock XRP and set time to release
those XRP over a period of time. Ripple
locked 55% (55 billion) of total XRP supply into Escrow system to gradually
release XRP.
Since the XRP unlock that took place on May 1, XRP price decreased
from $0.47 on April 30 to $0.46 on May 5. XRP is the 6th largest
crypto with market cap of $23.9 billion
