Ripple Company has a monthly program of releasing its tokens in installments, making them available for public purchase. Recently, 1 billion XRP tokens worth $308 million has been released from the Ripple escrow. This exercise is Ripple’s own way of disclosing its activities to investors, giving them the assurance of not selling off its holdings in one fell swoop.
Prior to this time, there has been a report by Ripple indicating that it sold $169.42 worth of the altcoin in the first quarter of 2019 via over-the-counter (OTC) transactions. The above figure revealed an increased demand of 31% for the altcoin, compared to the previous quarter.
Records from past exercises reveal that not all of the released tokens end up being sold. Usually, it is a fraction that eventually get picked up by uptakers, while the balance is returned back to escrow at the end of the month.
A total of $890 million XRP has been sold since 2016, and a significant portion of this happens through platforms like CryptoFish. The platform offers customers the flexibility of transactions with sufficient liquidity.
Other related developments show increased activity in the Bitcoin and altcoin cyberspace. Huge transactions were observed that saw one trader transfer 40,000 BTC across unknown wallets. The value of the Bitcoins as at the time of the transaction was $214 million, and the transaction fee was only $3.94.
The availability of this information further establishes the decentralized and transparent nature of blockchain technology. Transactions can be seen by everyone, and remain traceable within the open source network.
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