The launch of the Ripple network dates back to 10 years ago. But this is only the first time ever that the company holds less than 50% of the supply. This is more exactly about XRP’s assets for the third quarter of 2022. This is one of the highlights of the quarterly report released by this cryptocurrency company!
For transparency reasons, Ripple released on October 27 its third quarter report for this year 2022. The document not only provides a comprehensive summary of the Ripple (XRP) market, but also contains notes on the current development of the project, as well as the sales and reserves of this ecosystem.
Precisely with regard to the Ripple reserve, the report clearly underlines it: XRP holdings today represent less than 50% of the offer. More explicitly, Ripple’s reserve shows a significant decrease of $ 50 million. Unheard of in 10 years of history!
It’s not all ! The quarterly report also shows a loss of approximately 1.8 billion in trading volume on the NFT market. Hitting everyone NFT actors, this downward trend is mainly explained by the decline in activity. Added to this is a significant decrease in total net sales of XRP: $ 310.68 million in the third quarter, compared to $ 408.9 million in the previous quarter.
“An important step,” says Brad Garlinghouse
Ripple # 1 describes this huge milestone as an important and useful step. “For 10 years, Ripple has focused on using XRP and XRPL in our products for its speed, security and scalability for the movement of value. As more and more customers use XRP in their checkout flows, it is clear that there is real use here. “She said on her own tweet.
It also clarifies that the XRP Ledger consensus mechanism remains reliable. Each validation node has only one vote, regardless of the amount of XRP in reserve. Knowing that Ripple only runs 4 out of over 130 XRP validators.
Heavily criticized for large ownership of XRP, Ripple was right to publish this quarterly third-quarter report. The gradual decline in holdings in XRP would really mean one thing: “XRP Ledger is in no way controlled by Ripple.”
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My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years. I discovered trading and cryptocurrency just a few years ago. But it is a universe that interests me a lot. And the topics covered within the platform allow me to learn more. Singer in my free time, I also cultivate a great passion for music and reading (and animals!