Ripple: sales of XRP tokens in the second quarter exceeded $ 250 million

Ripple Labs has published a new report, according to which in the second quarter, the sale of XRP tokens brought her $ 251.51 million. For comparison, in the first quarter this figure was $ 169 million.

The QRP 19 Markets report this week. https://t.co/K07ESf4g70 pic.twitter.com/wVXYAPfeIv

– Ripple (@Ripple) July 24, 2019

According to the document, out of this amount, over $ 100 million came from direct sales of XRP to institutional investors, another $ 144 million came from so-called “programmable sales”, which are sales made by Ripple partners based on global XRP trading volume.

Representatives of Ripple also noted that amid reports of artificially overstated trading volumes on exchanges, “at the beginning of the second quarter, the company temporarily suspended programmed sales and imposed limits on institutional sales to assess the problem.”

After some time, the company resumed sales, but their volumes were reduced by 50% relative to the previously used benchmarks, at the level of 10 basis points from the volumes transferred to CoinMarketCap.

Additionally, to provide reliable data on trading volumes, Ripple has adopted the Top Tier (CCTT) tool offered by the CryptoCompare portal, which includes high-rated exchanges.

So, if, according to CCTT, the average daily trading volume of XRP in the second quarter was $ 429.51 million compared to $ 156.01 million in the first quarter, the CoinMarketCap data give a completely different picture – $ 1.74 billion.

Speaking about his future plans, Ripple declares its intention to adhere to a more conservative approach to XRP sales, limiting their volumes.

The report also says that for the second quarter, the XRP token was added to the listing on 12 new exchanges and today it is being traded in a total of 130 sites.

Recall that in June, Ripple signed an agreement with technology company Coinfirm to monitor the use of the XRP token. Allegedly, the data will be collected to counter money laundering, while the information collected by Coinfirm will not include the identification data associated with the public addresses where tokens are stored.

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