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Ripple’s Crypto Unicorn Transfers 36.1 Million XRP

Bitso crypto exchange moved 36.1 million XRP a little over eight hours ago, according to data supplied by Whale Alert crypto tracker.

Bitso has a total of 36 million XRP tokens.
Whale Alert has discovered that Bitso, a crypto unicorn based in Mexico, has received 20 million XRP.

According to additional data from the Bithomp analytics tool that records Ripple transactions. Then, Bitso transferred 16,100,000 XRP between its wallets internally later.

Bitso’s valuation rose above $2.2 billion after concluding a big funding round in early May 2021. So, the Mexico-based crypto exchange became the first crypto unicorn in Latin America.

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Bitso was able to raise about $250 million in the Series C investment round at the time.

The exchange secured an undisclosed investment from XRP tech provider in October 2019. Then, and began using its XRP-based On-Demand Liquidity (ODL) technology for remittances throughout Latin America.

Lastly, In its recently released Q4 report, Ripple revealed that its XRP sales to ODL clients had surpassed $1 billion in the fourth quarter of 2021. That’s, representing a 46-percent rise and soaring to $717 million from $491.74 million in the third quarter.

According to the document, global demand for ODL has expanded significantly, and the currency now has twenty payout markets.

In addition, the San Francisco-based IT behemoth purchased $321.97 million worth of XRP on the secondary market.

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