According to the company’s Q3 report, Ripple saw a 211% increase in XRP sales compared to the quarter. It sold $491.74 million worth of XRP in the previous quarter, compared to $157.92 million in the second quarter of the year. The growth is attributed to the success of Ripple’s On-Demand Liquidity (ODL) service, which uses XRP as a bridge between fiat currencies.
Ripple (XRP) trading volumes fell 50%
According to Asheesh Birla, general manager of RippleNet, ODL now accounts for a quarter of the network’s total dollar volume. Transactions made with the help of the service grew by 130% in the last quarter. However, ODL sees almost zero traction in the US due to the Securities and Exchange Commission (SEC) lawsuit against Ripple.
cryptocoin.com As you can follow from the news, the company’s sales within the program have been stalled since the 4th quarter of 2019. So it does not sell XRP to crypto exchanges. In the third quarter, global trading volumes of XRP fell more than 50% according to CryptoCompare.
For comparison, Bitcoin (BTC) saw a nearly 33% drop in trading volumes quarter-on-quarter. However, some cryptocurrencies such as Solana (SOL) and Terra (LUNA) have managed to catch up with the trend. In its third quarter report, Ripple also confirmed that it made its final transfer to co-founder Jed McCaleb in the third quarter.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.