Ripple Sold Two Times More XRP Coins in Q3 Than in Q2

Ripple Sold Two Times More XRP Coins in Q3 Than in Q2

Ripple is confidently making money. During the third quarter of 2018 Ripple Labs, Inc. gained two times more in sales of XRP coins than within the previous quarter. In a quarterly report the tech entity, headquartered in California, also shared the numbers of total XRP sales in Q3.

3 Million XRP Tokens "Emitted" in Q3

On October 25, Ripple, the business entity which runs the third most valuable cyber-coin on the market XRP, issued a quarterly report. The document states that within Q3 Ripple managed to gain two times more than during Q3 only thanks to XRP sales. In particular, its sales made up $163.33 million. Notably, in Q2 Ripple sold $73.53 million.

Our top trading bots

As per the report, the revenues from XRP sales were apportioned between Ripple itself and its affiliate XRP II, LLC. If the former gained $65.27 million, the latter saw $98.06 million as the proceeds from sales.

Another stats shows the significance of Ripple’s Q3 returns. Within this period, the report indicates, the entity gained 0.172% of the entire XRP volume traded worldwide, whereas, within the previous quarter, that mark was 0.125%.

The explanation of why this is taking place is yet to be seen.

Interestingly, within the same quarter in 2017 Ripple sold $19.6 million worth of its coins in a direct way. In the meantime, $32.6 million were sold programmatically.

It is noteworthy that in both quarters the business issued the equivalent quantity of tokens — 3 billion of XRP out of escrow each. The entity added that the remaining 400 million coins did not turn to escrow. However, they are used differently to support the entire system.

Also, the organisation stated that the volatility of its coins was predominantly weak in Q3 this year. The increase took place only in the last few weeks of the period, as well as the price also went up.

As of writing, the price of XRP makes up $0,458, which is 0,35% higher than a day ago. Within the past three months, XRP's price made a small leap from $0,27 to $0,59.

It is recalled that at the end of summer, Ripple revealed it had added three virtual money exchanges to xRapid, the entity's payments settlement product. They are Bitso, CoinsPh and Bittrex. The move, Ripple initially declared, was envisioned to help financial entities get an account with the US trading venue.

PwC report calls NFTs 'the future of digital assets in sports'
Nonfungible tokens, or NFTs, and digital assets are one of the ten major trends within the sports industry, according to the consultancy Price Waterhouse...
Bitmain signs 500MW joint venture with sustainable BTC miner Merkle Standard
Beijing-based Bitmain has partnered with a United States-based sustainable Bitcoin miner, Merkle Standard, which will contribute capital investment, expertise...
Hong Kong-based Coinsuper allegedly blocks customers' withdrawals
A cryptocurrency exchange in Hong Kong has reportedly stopped all withdrawal requests, according to reports. Coinsuper is the sole crypto firm in China...
Bitcoin notches record high, day after U.S. ETF debut
NEW YORK (Reuters) - Bitcoin climbed to a record high on Wednesday, and the first U.S. bitcoin futures-based exchange-traded fund (ETF) built on gains after...
Altcoin Roundup: Hodling Ethereum? Here’s how and where to stake your ETH
The overall feel across the cryptocurrency landscape over the past week has been one of bubbling anticipation, with the Ethereum network finally undergoing...
John McAfee’s suicide reports raise disbelief, spark conspiracy theories
Often a figure of ridicule within the crypto community thanks to his outlandish predictions as well as being a larger-than-life personality, John McAfee...
Elon Musk tweets his support over proposed Dogecoin changes
Elon Musk, the at-times controversial SpaceX founder and stop-and-go crypto supporter, voiced his support late Sunday for a set of major updates to the...
Southern China warns investors against illegal token platforms
Following China’s major regulatory crackdown on cryptocurrencies, financial regulators in Hainan, the smallest province in the country, reportedly issued...
UK FCA buys another 9 months to review crypto companies’ registrations
The United Kingdom’s Financial Conduct Authority (FCA) has extended the end date of crypto-asset companies’ temporary registration from July 2021 to March...
Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders
Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events...
'ETH has outperformed BTC by 250% since inception': Raoul Pal triggers debate
Real Vision co-founder and CEO Raoul Pal has sparked a spirited debate after predicting that Ethereum and other coins with "network effects" will outperform...
Bitcoin Finds Support at $50K as Long-Term 'Hodl' Appears Intact
By Yasin EbrahimInvesting.com – Bitcoin's slump Thursday was blamed on hedge funds rebalancing their portfolios ahead of the quarter-end, but the selling...
China social media star Bart Baker to drop 8 NFTs with DeFine Art
Bart Baker, arguably the most famous American social media influencer in China, is releasing a series of nonfungible tokens, or NFTs, in collaboration with...
Monero To Hard Fork - MoneroV
Recently it became known that MoneroV (XMV) is planned on the Monero network. It should take place on block 1529810. It is expected that this will happen...
Crypto Utopia in Puerto Rico
A group of crypto-enthusiasts chose the state of Puerto Rico to build their city - a "crypto utopia". The correspondents of The New York Times went...