Coinbase's XRP Balance Explodes After Wallet ID Change

Coinbase's XRP balance surged by an astonishing 4,870% to reach 5.569 billion XRP on the rich list.

The apparent influx of tokens was not due to any large-scale purchase or transfer of funds but rather a change in the wallet identification methodology used by the XRPScan explorer.

XRPScan had just completed the identification and labeling of 146 Coinbase wallets that were previously unclassified, causing the exchange's recognized balance to jump automatically.

Coinbase now shows a total balance of 5.684 billion units, equivalent to 5.684% of the circulating supply, distributed across 152 accounts.