recently released its final quarterly performance for 2018 showing total XRP sales of $535.56 million for the whole of 2018. XRP sales decreased in the fourth quarter of 2018 while volume increased.
$535 Million in Total XRP Sales for 2018
According to the , sold a total of $535.56 million in XRP for 2018 as a whole. Of this figure, $171 million or roughly a third came from institutional buyers while more than $363 million came from sales via third-party market makers.
As for the fourth quarter of 2018, reports that it sold 129.03 million worth of XRP. This figure is over 20 percent less than the sales recorded in the which stood at $163.33 million.
One likely cause for the decline is a contraction in direct institutional sales by II; the company’s licensed money transmitting arm. In Q4 2018, II sold $40.15 million, less than half the sales figure for Q3 2018 ($98.06 million).
Sales via ’s money transmitting subsidiary tend to cater to institutional buyers. Such transactions usually have some restrictions put in place to prevent huge swings in volatility.
The report also showed an increase in programmatic XRP sales (via third-party market makers). recorded programmatic XRP sales to the tune of $88.88 million in Q4 2018 compared to $65.27 million in the previous quarter.
In total, the company sold $535.56 million in XRP for the whole of 2018.
Despite the decrease in Q4, XRP volume actually increased. Global XRP volume for the fourth quarter of 2018 stood at $54.8 billion, a 44 percent rise from Q3 figures.
Recently, other sources have revealed that may be the market capitalization and circulating supply of the XRP . The report which brought the findings to light also alleged that the recorded XRP volume might be manipulated via wash by overseas exchange platforms.
Growing XRP Utility
Concerning , reports that there is a growing utility for the XRP , especially with exchange platforms. XRP is now listed on more than 100 platforms globally, according to the market report marking a 100 percent increase compared to the , which stood at 50.
Furthermore, the company says the is finding more utility as a base pair at nine exchanges including , the world’s leading exchange by volume.
The findings also touched on xRapid, the company’s cross-border payment solution which went on October 2018. According to the report, notable financial institutions like Catalyst Corp and Mercury FX have already signed on to xRapid.
What do you think about XRP’s overall performance in 2018? Let us know your thoughts in the comments below.
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Published at Sun, 27 Jan 2019 15:17:15 +0000
