According to a report by the company, in the second quarter of 2019 Ripple the sales of the platform’s native token, XRP have increased by almost 50 percent reaching 251 million USD.
Notably, institutional sales increased by more than 70 percent, rising from 61 million USD to 107 million USD.
Ripple reported that they are planning to withdraw from large exchanges and move to ones with lower liquidity, which may negatively affect the direct institutional investments. The trading volume of the company has decreased to 429 million USD to $595 million USD by 28 percent.
The company’s trading volumes benchmark has altered last month after the company in cooperation with CryptoCompare eliminated some exaggerated statistics.
The Chief Executive Officer of CryptoCompare, a worldwide crypto market data provider, stated that the company does not use amplified data. Hence, as Ripple began working with this company, it is hard to compare the new report to previous ones as they have been measured with different metrics.
If the company measured this quarter’s value with previous metrics it would display an increase of almost 200 percent as the volume would be 1.8 billion USD.
On the other hand, XRP grew by 25 percent and the company released a billion coins each month in the second quarter. Ripple also spent 900 million for Xpring projects and their collaboration with MoneyGram.
The post RIPPLE Q2 REPORT: XRP SALES UP 50% appeared first on Bitcoin News.
from Bitcoin News https://www.cryptocynews.com/ripple-q2-report-xrp-sales-up/
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