Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Bitcoin Top Indicator Says It’s Not Over Yet As Parabola Signals Fail

20/07/2025

Tokenised Treasuries boom to $7.4b as crypto traders ditch stablecoins for yield

20/07/2025

Jupiter Racks Up $470M from Perps Platform on Solana

20/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin Top Indicator Says It’s Not Over Yet As Parabola Signals Fail

    20/07/2025

    KindlyMD, Nakamoto, and Anchorage Digital Form Strategic Bitcoin Treasury Alliance

    20/07/2025

    Bitcoin Realized Cap Nears $1 Trillion as Institutional Demand Surges

    20/07/2025

    Bitcoin Reenters Price Discovery—How High Will It Go?

    20/07/2025

    Will ETH Pull Back to $2.8K Before Next Leg Up?

    18/07/2025

    BlackRock Just Broke Major 2,000,000 Ethereum (ETH) Milestone

    18/07/2025

    How Will Coinbase Rebrand Its Wallet?

    18/07/2025

    Ether Sees Record Short Build up as Hedge Funds Pile on Basis Trade

    18/07/2025

    Jupiter Racks Up $470M from Perps Platform on Solana

    20/07/2025

    A Bold Leap into Decentralized AI

    20/07/2025

    Will Linea Launch a Token?!

    20/07/2025

    Can $CORE Soar by Year-End 2025?

    20/07/2025

    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

    14/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    Bitcoin Top Indicator Says It’s Not Over Yet As Parabola Signals Fail

    20/07/2025

    Tokenised Treasuries boom to $7.4b as crypto traders ditch stablecoins for yield

    20/07/2025

    Jupiter Racks Up $470M from Perps Platform on Solana

    20/07/2025

    Richard Teng, CEO of Binance, Gives a Special Interview on the Company’s Founding Anniversary: Is the IPO Coming?

    20/07/2025
  • Blockchain

    Neurolov and Deepbook AI Build DeFi Browser Backed by Distributed GPUs

    20/07/2025

    ArtGIS Finance and Burnr Chat to Power Private, Secure Cross-Chain Transactions

    20/07/2025

    SoonChain and BluwhaleAI Join Forces to Enhance Personalized AI Agents Across Web3

    20/07/2025

    DAC Platform and DeepBook AI Collaborate to Gamify Web3 Browsing Experience

    20/07/2025

    TADA Denver Unleashes Revolutionary Zero-Commission Blockchain Ride-Hailing

    19/07/2025
  • DeFi

    DeFi sector has just reclaimed 2022 highs, with Ethereum asserting its dominance

    20/07/2025

    Centralized Aave on Kraken Ink Sparks Crucial Debate

    20/07/2025

    Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

    20/07/2025

    Bitcoin DeFi Has Ballooned 20x Since Start of 2024 as Builders Bet on Yield

    19/07/2025

    Securitize Takes Tokenized Hamilton Lane Credit Fund Multichain, Bringing It Closer to DeFi

    19/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    Tokenised Treasuries boom to $7.4b as crypto traders ditch stablecoins for yield

    20/07/2025

    BNK Group’s Revolutionary Step Towards Digital Finance

    20/07/2025

    Japan Consumer Index Drops Again—Could Dovish BoJ Lift Bitcoin?

    20/07/2025

    The Open Platform Reaches $1B Valuation After Series A Extension

    20/07/2025

    This BlackRock stock just spiked over 300% 

    20/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Richard Teng, CEO of Binance, Gives a Special Interview on the Company’s Founding Anniversary: Is the IPO Coming?

    20/07/2025

    Following the Market Rally, Justin Sun Transfers a Controversial Large Amount of Altcoins to Binance

    20/07/2025

    Exchange-run launchpads average 10x gains but face scrutiny over steep valuations, opaque models

    18/07/2025

    MOEX to offer futures tracking the value of Ethereum

    18/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Shadow War Joins Nexus Night to Redefine DeFi

    19/07/2025

    CARV Joins Anomaly Games to Redefine AI-Led Gaming Interoperability

    18/07/2025

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    16/07/2025

    Crypto games are struggling in 2025, but big brands aren’t giving up

    15/07/2025

    Bitcoin Minimum Fee Rate Slashed by 90%—Is That a Good Thing?

    19/07/2025

    ASIC Bitcoin Miners Are Back in Profit Mode—Here’s What They’re Making Daily

    19/07/2025

    U.S.-Listed Bitcoin Miners Reach New Peak Share of Global Hashrate

    17/07/2025

    French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

    17/07/2025

    An Indian Court Takes a Hard Line on Crypto Crime

    19/07/2025

    US gov’t weaponised evidence against Tornado Cash, report

    19/07/2025

    South Korean Court Acquits Former Wemade CEO in WEMIX Token Manipulation Case, Future Appeals Possible

    19/07/2025

    US President Donald Trump Makes Hot Remarks on Cryptocurrencies – Shares a Long Statement

    18/07/2025

    Bitcoin Top Indicator Says It’s Not Over Yet As Parabola Signals Fail

    20/07/2025

    Tokenised Treasuries boom to $7.4b as crypto traders ditch stablecoins for yield

    20/07/2025

    Jupiter Racks Up $470M from Perps Platform on Solana

    20/07/2025

    Richard Teng, CEO of Binance, Gives a Special Interview on the Company’s Founding Anniversary: Is the IPO Coming?

    20/07/2025
  • MarketCap
NBTC News
Home»Altcoins»Unusual Coinbase-XRP Burn Trend Spotted On-Chain
Altcoins

Unusual Coinbase-XRP Burn Trend Spotted On-Chain

NBTCBy NBTC01/07/2024No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Coinbase exchange might be burning XRP in what might be considered the most subtle or unusual move ever. According to insights shared by block explorer XRPScan, the American trading platform incinerates a portion of the fees it receives from every internal XRP transfer.

XRP burn – unusual bullish effort

Coinbase relisted XRP recently after the digital exchange received clarification from Judge Analisa Torres that it is not an investment contract. Per the update from XRPScan, Coinbase burns 20 XRP as fees whenever it moves funds internally.

While it is hard to accurately predict the reason for this burning, XRPScan noted that it is to ostensibly empty out the wallets making the transfer. Coinbase is overpaying for gas fees as the wallet reserve payments were lowered to 10 XRP a few years ago.

When Coinbase moves funds internally, they burn 20 XRP as fees. Ostensibly to empty out the wallet, even though wallet reserves were lowered to 10 XRP a few years ago: https://t.co/SqKrtNE73Y https://t.co/gEApC7zvBl

— XRPScan (@xrpscan) June 6, 2024

The insight from XRPScan came as a result of the spotted 39,401,162 XRP worth $20,712,323, transferred from an unknown wallet to Coinbase. The community is reacting to this unusual Coinbase move as the overpayment for gas fees helps the coin more than the trading platform.

As noted by Thomas Silkjær, Head of Analytics and Compliance at XRP Ledger Foundation, the trading platform could have just deleted associated wallets to make transactions even cheaper.

XRP competing as viable payment option

Placing actual figures on the upper end of the 20 XRP that Coinbase pays, this is equivalent to about $10.468 based on the current price of the coin pegged at $0.5234.

This amount is rather massive compared to the costs of transacting on other rival protocols. However, for smaller, retail transactions, XRP has earned itself a place, as this utility serves as the basis for its defense in the lawsuit filed against it by the United States Securities and Exchange Commission (SEC).

By a large margin, XRP is still regarded as one of the top crypto payment coins in the industry.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Jupiter Racks Up $470M from Perps Platform on Solana

20/07/2025

A Bold Leap into Decentralized AI

20/07/2025

Will Linea Launch a Token?!

20/07/2025

Can $CORE Soar by Year-End 2025?

20/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Bitcoin Top Indicator Says It’s Not Over Yet As Parabola Signals Fail

20/07/2025

Tokenised Treasuries boom to $7.4b as crypto traders ditch stablecoins for yield

20/07/2025

Jupiter Racks Up $470M from Perps Platform on Solana

20/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.