Friday, May 7, 2021
Home > Business > I billion XRP worth $1.6 billion released into the Crypto market

I billion XRP worth $1.6 billion released into the Crypto market

image_pdfimage_print

Money247news is happy to inform all crypto investors that XRP, the fourth most valuable crypto asset by market value, recently released about 1 billion XRP worth about $1.6 billion, from an escrow account.

Whale Alert, an advanced crypto tracker, tracked the massive transactions in real-time which occurred in two different 500 million XRP transactions worth about $1.6 billion, meant primarily for funding its operations and venture capital, with the rest kept back in the escrow accounts.

In simple terms, such transactions boost the liquidity in the Ripple network as more people gain access to buy into the fourth most valuable crypto.

What is Ripple (XRP)

Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

At the time of writing this report, XRP was trading at $1.59 on the FTX exchange with a daily trading volume of $13 billion. XRP is up 4.17% for the day. Its current market value stands 73 billion with a circulating supply of 45,404,028,640 XRP and a maximum supply of 100,000,000,000 XRP coins.

Unlike its major leading crypto (Ethereum and Bitcoin) which were never intended to be a payment system, Ripple has gained the attention of major global banks such as Standard Chartered and Barclays for international transactions worldwide.

READ  Senate voted Biden’s $1.9tn stimulus plan

For the week, XRP has seen a rise in value, a surge close to 40% as investors bet Ripple would settle with the Securities and Exchange Commission. That being said, price patterns reveal XRP is still down about 52% from its record of $3.29 set on January 4, 2018.

Share Button
Pls SUBSCRIBE below to our Youtube channel and mailing list to get fresh updates on money making and inspiring videos and articles.
Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
http://www.money247.com.ng

Leave a Reply

Your email address will not be published. Required fields are marked *