Ripple Sends ₱6.5 billion ($108 million) XRP to Coinbase as MicroStrategy Logs ₱216.65 billion ($3.6 billion) Bitcoin Gains
Ripple moved 75 million XRP to Coinbase through five sub-wallets in a transaction tracked by Whale Alert and XRPWallets. MicroStrategy logged ₱216.65 billion ($3.6 billion) in Bitcoin gains within three weeks of April.
Key Takeaway
MicroStrategy's 6.2% BTC yield in three weeks shows treasury strategy working despite routine exchange movements.
Ripple transferred 75 million XRP to Coinbase in a move worth ₱6.5 billion ($108 million) at execution, according to Whale Alert and XRPWallets tracking services. The company routed the transaction through five sub-wallets of 15 million XRP each, with two of those wallets sending a combined 50 million tokens to the exchange.
Crypto market observers said not to interpret the deposit as an immediate sell-off. Ripple's updated business model uses sub-wallet routing for operational purposes, and XRP continues to hold key support levels despite chart pressure. The token traded at $1.44 at the time of the article.
MicroStrategy achieved $3.6 billion in Bitcoin gains during the first three weeks of April, a bullish stretch for the broader crypto market. The company generated 47,078 BTC through a 6.2% BTC yield during that period. MicroStrategy leadership shared the data as the world's largest Bitcoin treasury company continues its accumulation strategy.
Shiba Inu saw major exchange outflows in the same timeframe, with 505 billion SHIB leaving centralized platforms in the last 24 hours. On-chain analysts said the withdrawals indicate holders are moving tokens into long-term or cold storage positions rather than selling.
This article was written based on reporting from U.Today.
