A wallet tied to Ripple co-founder and executive chairman Chris Larsen transferred out hundreds of millions worth of XRP (CRYPTO: XRP) over the last week.
What happened: Around 50 million XRP tokens have been moved from the address since July 17, totaling $155 million at current prices, according to on-chain analytics firm CryptoQuant.
The address associated with Larsen still has 2.28 billion XRP left, worth over $7 billion, accounting for 3.80% of XRP’s total market capitalization.
On-chain detective ZachXBT stated that 40 million XRP was moved to exchanges and services, while 10 million XRP was transferred to two new wallets.