Ripple today sold 150 million XRP from its June reserves.
2024-06-07 13:25:35
Ripple today sold 150 million XRP from this month's reserves in a deal worth about $78 million, or 0.25% of XRP's market cap of $29.25 billion ($0.52 per token). On June 1, Ripple released 1 billion XRP from its initial allocation, which was held in custody on a monthly basis until 2027. The company then transferred 200 million XRP to its treasury account and locked the remaining 800 million in a new escrow contract.
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