ChainCatcher news, according to Whale Alert monitoring, at 22:20:51 UTC+8 today, 100 million XRP (worth $283.89 million) were unlocked from custody.
In 2017, Ripple locked 55 billion XRP (55% of the total supply) in custody accounts based on the XRP Ledger. These custody accounts are controlled by smart contracts, automatically unlocking 1 billion XRP each month (1 billion per month before 2020, then adjusted to 450 million per month). Not all of the 1 billion XRP unlocked each time enters the market; Ripple typically uses only a portion of the unlocked tokens (such as 20%-25% for market sales), while the remaining portion is re-locked in custody for release in future months. In 2020, Ripple extended the custody contract from 55 months to 70 months, further slowing the release rate.
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