The number of Coinbase XRP cold wallets has been shrinking for the past few days, falling to just two recently.
This is the latest update Community commentator XRP Lifisit suggested that each of the two wallets holds 16.4 million XRP. Surprisingly, this is a massive drop from 52 cold wallets held by the exchange three months ago.
Coinbase XRP Cold Wallet contracts to 2
Data from XRPSCAN, the XRPL Explorer, confirms recent claims. Specifically, a Please take a look XRP Rich List indicates What's currently 2 Coinbase XRP cold wallets, namely Cold 247 and Cold 438.
Remember that in previous reports we confirmed as of September 16th there were six Coinbase XRP cold wallets holding 98.81 million XRP. Since then, Coinbase has emptied four of these wallets, with only two left at press.
The latest fund movement
In particular, by the Quick-on Chain Survey Crypto Basics This indicates that Coinbase has empty two of its four wallets in the last two days. Specifically, cold 124 It moved September 18th 01:12 16.483 million XRP to UTC's Coinbase (10) Hot Wallet. Meanwhile, it was cold yesterday. Sent Coinbase (7) 08:14 16.483 million XRP to UTC hot wallet.
This matches all other patterns Coinbase XRP Cold Wallet. However, the hot wallet always moved the XRP tokens it received immediately.
For example, after receiving recent assets, Coinbase's hot wallets quickly distributed them to outbound transfers to unknown addresses and other platforms, patterns highlighted in previous reports.
This suggests that Coinbase may be using tokens to meet withdrawal requests from customers to these platforms or addresses. At press time, Coinbase (7) holds over 1 million XRP, while Coinbase (10) only balances 56,992 XRP tokens.
especially, Coinbase Not announced Surroundings XRP leads to community due to depletion of reserves Speculations around Possible reasons. Some suggest that whales may be swallowing up the available supply of XRP, which could potentially cause supply shocks, but this remains just speculative. Coinbase has not responded to requests for information from Crypto-based.
