Ripple Delivers Q4 2018 XRP Markets Report

Ripple Delivers Q4 2018 XRP Markets Report

The report details that trading volume for XRP increased for the last quarter of 2018 with more than a hundred exchanges now supporting the native token

Ripple’s Q4 2018 XRP Markets Report, states the platform sold $88.8 million total of XRP through programmatic means and $40.15 million was sold by Ripple subsidiary; XRP II, LLC direct to institutional parties. The sum total of XRP sold for last year’s quarter four amounts to $129.03 million which indicates a 0.24% worldwide volume for XRP.

For the whole of 2018, Ripple reports that $535.56 million worth of XRP sold.

Price Swings, Trading Volume, and Escrow Accounts

... towards the latter part of Q4, XRP’s correlation with top digital assets returned to the elevated levels seen through the end of Q1 2018 through early Q3 2018.

Q4 2018 XRP Markets Report

During last year’s last quarter, the coin’s daily returns fluctuations averaged 5%; meaning volatility for XRP decreased in contrast to previous quarters.

Median daily trading volume for XRP increased reaching $595.7 million, said to be apical when compared to the figures from last year’s first quarter.

About three billion XRP was released from Ripple’s cryptographic escrow. 600 billion coins are utilized to support the platform’s ecosystem while 2.4 billion coins are returned and shifted to new escrow accounts.

Cryptocurrency Exchange Support for Ripple

In Q4, 30 additional exchanges listed XRP. By the end of 2018, the coin is supported by 100 exchanges. It also became a base currency in nine exchanges including Binance, according to the report.

The report concludes with a ‘Market Commentary’ segment where Ripple laid their views on stablecoins and the crypto clampdown and the market’s maturation.

More Recent Ripple News

Huobi exchange will expand their derivatives products. Josh Goodbody, General Counsel at Huobi, divulges the plan for an XRP futures contracts to be released soon.

The Euro Exim Bank, the very first bank to use XRP, is planning to use the platform’s xCurrent to initiate a finance system similar to SWIFT’s. The system will have the ability to embed instructions regarding trade finance into xCurrent’s messaging system.

The idea is, apart from just the payment instruction, what if we use the message to transmit a trade finance instruction directly to a counterparty? It could be a letter of credit or a performance bond. Technically you are able to transmit the whole of that message via xCurrent.

Graham Bright, Chief of Compliance and Operations at Euro Exim Bank

XRP

XRP
Price
0.3305 USD 0.27%
0.00008289 BTC -0.48%
Volume, 24h
384,092,668 USD
-34.45%
Marketcap
13,545,220,721 USD
10%
Emission
41%

Related news

Binance Decentralized Exchange (DEX) Supports Ledger Cryptocurrency Hardware Wallet

Binance Decentralized Exchange (DEX) Supports Ledger Cryptocurrency Hardware Wallet With the Binance decentralized crypto exchange now live in testnet, Ledger, the makers of Ledger Nano S, a highly secure cryptocurrency hardware wallet has announced that the new decentralized exchange from the stables of the world’s number one crypto exchange by 24-hour trading volume, supports the […]
Bitcoin Exchange Guide

Binance Launches DEX Testnet for Peer-to-Peer Crypto Trading

Binance has officially released its DEX testnet, a decentralized order-matching engine which will supposedly allow users to create wallets and trade cryptocurrency without trusting a centralized service. However, it also raises questions about how increased on-chain transactions will impact Bitcoin and whether Binance’s DEX really is decentralized. Binance Launches DEX Testnet for Peer-to-Peer Crypto Trading The world’s largest and most popular cryptocurrency exchange has released the testnet for its long-awaited decentralized exchange. According to a press release, Binance DEX is the company’s new decentralized order-matching engine powered by the Binance Chain technology. Binance users will be able to create a wallet and begin exchanging tokens on the Binance DEX testnet starting January 20. Changpeng Zhao, the CEO of Binance, said that the new DEX will be able to provide users a “different balance of security, freedom, and ease-of-use.” Users will now have more control of their personal assets, as all of the responsibility for storing their info and assets will allegedly move to the user when using the DEX. According to the company’s press release, the matching on Binance DEX will happen within a decentralized network of nodes with all transactions recorded on-chain. That way, a complete, auditable ledger of activity will be created, the company explained. “Binance Chain has near-instant transaction finality, with one second block times. This is faster than other blockchains today,” Zhao said in the release. He also noted that Binance DEX can handle the same trading volume as Binance.com. Will Binance’s DEX Meet Expectations? If the Binance DEX manages to live up to expectations, then users will be able to hold their own seed words and private keys. If successful, in the future, if the exchange is hacked or Binance fails due to insolvency, all funds will still be accessible, providing a strong alternative to incidents like Quadriga. One potential byproduct of DEX adoption is an increase of on-chain transactions. Notably, because Bitcoin has limited on-chain transaction throughput and transactions tend to be more expensive compared to other crypto alternatives, then an increase of BTC trading via DEX could increase congestion on the Bitcoin network. If DEX use is pronounced enough, this could cause transaction fees and times to once again rise. ‘True’ Decentralization? Viktor Radchenko, the founder of Binance’s Trust Wallet, said that the company was one step closer to realizing their vision for “greater freedom of money” with the Binance DEX. However, it is unclear just how decentralized Binance’s DEX will be. The new platform will most likely have to comply with KYC protocols and will allow the company to profit from trading fees rather than distributing them to network facilitators or nodes. Many on Reddit have pointed out that Binance can never have a “truly decentralized” exchange as long as it’s based on its own chain. Competitors such as Blocknet and Stakenet are allegedly more decentralized, leveraging Atomic and Lightning Swaps to provide transactions that are purportedly faster, cheaper, and with fewer points of failure than Binance’s DEX. However, if Binance leverages its enormous user base and already successful platform, perhaps ‘pure’ decentralization won’t matter to the average user. The post Binance Launches DEX Testnet for Peer-to-Peer Crypto Trading appeared first on CryptoSlate.
Cryptoslate

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.