Over $300 Million in XRP Moved From Coinbase Wallet


The US-based crypto exchange, Coinbase has moved $300 million worth of XRP tokens.


The US-based crypto exchange, Coinbase has moved $300 million worth of XRP tokens.
Coinbase Logo | Image: Coinbase

Whale Alert, a popular crypto tracking platform, has first noticed the action. The platform spotted that Coinbase transferred over 256 million XRP tokens in a single transaction.


The amount of crypto is worth $300,776,300 at the current XRP price of $1.128. According to data shared on the Bithomp website, the transaction was between internal wallets of Coinbase.


In addition, this move comes after Coinbase CEO Brian Armstrong said the firm is adding $500 million worth of crypto to its balance sheet.


Last week, the CEO published the news on his Twitter account. He affirmed that they got the board approval to buy more cryptos and add to their existing holdings.


According to the leading U.S. exchange by trade volume, they will be investing 10% of all profit in cryptocurrency. Also, Armstrong said he expects this pace to keep growing over time as the crypto economy matures.