500M XRP moved from Uphold wallet to five new addresses
- —500 million XRP worth about $649 million was moved in five transactions of 100 million XRP each
- —The new addresses were created hours before the transfer and activated with small amounts of 60 to 100 XRP
- —Uphold wallets hold about 1.47 billion XRP, but these may be custodial client funds
- —No further transfers from the recipients have been recorded; some incoming transactions are dust spam
Why it matters: Large movements from exchange wallets are often seen as preparation for a sale, but without confirmation from Uphold and follow-up transfers, this is only an on-chain signal.
Source: TokenPost