Ripple Unlocks 500 Million XRP Tokens
Onchain data showed that 500 million XRP tokens were unlocked from Ripple's escrow on May 1st. The crypto firm is known to unlock 1 billion tokens every month, although it appears to have only unlocked half this time. The scale of these tokens is always a concern given the negative impact they could have on the price of an altcoin if released into the market.
Further analysis of the online data shows that Ripple sent 300 million XRP from the unlocked tokens to an escrow account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Given that 200 million XRP tokens have not been sent into escrow, Ripple may be planning to sell them at some point, although it has not yet done so.
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