Ripple Has Sold $890 Million Worth Of XRP Tokens, Nearly One Third Directly To Crypto Exchanges
Ripple Has Sold $890 Million Worth Of XRP Tokens, Crypto Media Outlet Affirms
The Block Crypto, a cryptocurrency media outlet from the United States, has recently made a research in which they discovered that Ripple has sold a total of $890 million USD worth of their XRP tokens so far. In order to reach this result, the crypto media outlet used the total number of sales from 2016 to now.
Ripple sold 34.4% of its tokens to cryptocurrency exchanges and 65.6% of them to financial institutions, which generally use them to power their tech solutions for cross-border transfers.
In the last quarter, Ripple was able to sell more tokens than in any other time, a total of $169.42 million USD worth of tokens. The second highest amount was sold in the first quarter of 2018. Sales to retail exchanges went down after the beginning of 2018, but sales to institutions went up during this time, reaching their all-time high during the second quarter of 2018.
Ripple is the technology company which has created the RippleNet (which provides services like xCurrent, xRapid and xVia) and the XRP tokens, currently the third largest cryptocurrency by market cap.
Because the company holds so many XRP tokens, it is often accused of being too centralized, a claim that Ripple defends itself from all the time.