Ripple XRP Coin Sales in Quarter 3 2018 Outperformed Q1 & Q2 with $163 Million Sold
Ripple has announced that the revenue from the sale of XRP coins has more than doubled the last quarter compared to the second quarter of the current year.
As per the official market report for the third quarter of 2018, Ripple sold$163.33 million dollars in XRP coins.
In the second quarter, the company was able to sell just $75.53 million dollars of XRP coins. As per the company, most of the sales came from institutional investors that needed them to perform different transactions. XRP II, a subsidiary of Ripple, sold $98.06 million dollars. This represents an increase of more than 480% compared to the last quarter.
Additionally, programmatic sales have also grown during the last quarter. They increased almost in $10 million dollars reaching $65.27 million dollars during the third quarter.
Compared to a year ago, Ripple is also experiencing an important increase in XRP sales. Back in 2017, it sold $19.6 million dollars in direct sales and $32.6 million in programmatic sales. At this time, the cryptocurrency market was starting to become bullish and end with Bitcoin and other virtual currencies reaching their all-time highs.
At the same time, Ripple mentioned that XRP price declined through most of the third quarter as many other virtual currencies. Since the beginning of the year and until now, XRP lost over 85% of its value. Other virtual currencies lost more than 95% of their value.
At the moment of writing, XRP is the third most valuable virtual currency in the market with a market capitalization of $18.5 billion dollars. At the same time, each XRP coin can be bought for $0.46 dollars.