TechFlow news, February 2: According to Whale Alert monitoring, 100 million XRP (worth $283.89 million) was unlocked from a custody account approximately 15 minutes ago.
It is reported that in 2017, Ripple placed 55 billion XRP (55% of total supply) into escrow accounts on the XRP Ledger. These escrow accounts are controlled by smart contracts, which automatically release 1 billion XRP per month (prior to 2020 it was 1 billion monthly, later adjusted to 450 million monthly). Not all of the released 1 billion XRP enters circulation; Ripple typically uses only a portion (e.g., 20%-25% for market sales), while the remainder is re-escrowed and scheduled for release in future months. In 2020, Ripple extended the escrow duration from 55 to 70 months, further slowing down the release rate.
