Ripple has published its Q3 of 2020 XRP Markets Report showing a spike of 108% in XRP volume

ripple-has-published-its-q3-of-2020-xrp-markets-report-showing-a-spike-of-108-in-xrp-volume

Ripple has just announced the Q3 of 2020 XRP Markets Report, which shows the volume of XRP transactions spiked 108% compared to Q2 2020. The report focuses on 4 main contents, including On-Demand Liquidity (ODL): Introducing Line of Credit; Disciplined, Responsible Stakeholders: Q3 Sales and Purchases; XRP Integrations and Liquidity Update and XRP: A Preferred Base Currency for Arbitrage Trading.

Ripple has published its Q3 of 2020 XRP Markets Report showing a spike of 108% in XRP volume

According to the report, the average daily volume (ADV) increased from $ 196.28 million in Q2 to $ 403.58 million in Q3. Total XRP volume increased to $ 37.13 billion in Q3 compared to $ 17.86 billion in the second quarter.

ripple-has-published-its-q3-of-2020-xrp-markets-report-showing-a-spike-of-108-in-xrp-volume

Source: Ripple

The latest quarterly report also shows that total XRP sales, in terms of net purchases, rose to $ 35.84 million in the third quarter, compared with $ 32.55 million in the previous quarter. Additionally, the company mentioned focusing on selling and OTC to increase XRP’s liquidity.

Ripple is building new On-Demand Liquidity (ODL) capabilities to source XRP liquidity from the open market, not just Ripple. The company purchased XRP worth $ 45.55 million in Q3 2020.

ripple-has-published-its-q3-of-2020-xrp-markets-report-showing-a-spike-of-108-in-xrp-volume

Source: Ripple

While talking about the latest escrow developments, Ripple said:

“In Q3 2020, three billion XRPs were released out of escrow (one billion each month). In total, across the quarter, 2.4 billion XRPs were returned and subsequently put into new escrow contracts. All figures are reported based on transactions executed during the quarter. . ”

Ripple introduces XRP as a key tool for capturing time-bound arbitrage trading opportunities in the marketplace. According to the company, XRP’s low transaction costs, high speed, and reliability are ideal for capturing the price difference between exchanges.

The report stated:

“Using XRP as a bridge currency across trading venues allows traders to substantially reduce the time needed to do so, and more importantly, the related volatility exposure when compared to other digital assets, such as BTC and ETH. There is a clear difference between the transaction cost of an asset transfer over $ 10,000 equivalent in BTC, ETH, and XRP originating from Binance to Coinbase. ”

Last quarter saw the continued evolution of XRP infrastructure. FTX integrated the XRP/USD spot listing and began accepting XRP as collateral for all derivatives. Among top crypto exchanges, FTX now holds the largest market share of XRP open interest.

Besides, another notable is Binance launched XRP/USD inverse perpetual swap collateralized in XRP. On its app, Binance launched XRP put, call and straddle options (long-only) as well as leveraged tokens XRP up and XRP down.

Flare announced the launch of a smart contract platform for XRP through a “utility fork” and making Spark claimable by certain existing XRP holders. This is positive for the XRP community as it allows developers to create smart contracts for new use cases like lending and derivatives, extending XRP’s utility.

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The post Ripple has published its Q3 of 2020 XRP Markets Report showing a spike of 108% in XRP volume appeared first on AZCoin News.

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