Ripple has unlocked 1 billion XRP from its escrow accounts, valued at approximately $1.377 billion. The release occurred in three tranches of 200, 300, and 500 million XRP. Despite the significant release, XRP's price showed minimal reaction, rising only 0.9% from the day's open. This comes as XRP ended February with a 16.45% decline.
Meanwhile, Solana led a recovery among major cryptocurrencies, surging 11% to an intraday high of $88.89. This rebound followed a $500 million liquidation event that saw the crypto market shed $128 billion. Solana's price increase contributed to a $32 billion market value recovery by Sunday morning.
In other news, Elon Musk has endorsed a critique comparing AI firm Anthropic and its CEO Dario Amodei to the disgraced FTX founder Sam Bankman-Fried. The comparison highlights concerns over Anthropic's corporate persona, with Bankman-Fried having been an early backer of the AI company, investing $500 million in 2022 using misappropriated FTX customer funds.
Ripple Unlocks 1 Billion XRP; Solana Surges 11% Amid Market Rebound
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