XRP Whale moves over $12 billion worth of crypto for the next to nothing

A cryptocurrency whale has moved a whopping $12 billion worth of XRP in a transaction that cost next to nothing to process thanks to the network’s low fees. According to data from the XRP Ledger, a total of $12.3 billion worth of XRP were moved in the transaction that cost 0.000012 XRP, or $$0.0000157 to process.

It’s unclear who sent the transaction and who received it – if it was even a different entity – but the transaction highlights a key benefit of top cryptocurrencies: the low transaction fees that are possible even for extremely large transactions.

Cryptocurrency whales, as Benzinga reports, own a large share of XRP’s circulating supply, which means they can single-handedly move its price if they decide to sell their holdings. Similarly, whales are able to move up the price of XRP if they decide to keep on accumulating.

Find out more