For the first time ever, according to Ripple’s newly released Q3 report, it possesses less than half of the whole supply of the cryptocurrency XRP.
The company has reached a “major milestone,” according to Ripple CEO Brad Garlinghouse, who also noted that it is obvious that XRP has “real utility.” The supposed concentration of the XRP cryptocurrency has frequently drawn criticism. The main source of this criticism was the fact that Ripple held the majority of the token supply.
Ripple promised to release one billion tokens each month to maintain price stability when it locked 55 billion XRP (the majority of its supply) in a series of escrow wallets in the middle of December. In its report, the business disputes charges of centralization by stating that it only manages four of the 130 active validator nodes on the XRPL Ledger.
In Q3, Ripple sold XRP valued $310 million
In the second quarter, Ripple made a total of $408 million in sales. According to its most recent report, total XRP sales decreased to $310.68 million in the third quarter. According to the corporation, the cryptocurrency is still exclusively sold in conjunction with the on-demand liquidity (ODL) offering. The token is used by the ODL solution to bridge two fiat currencies invisibly.
Since February 2019, the company has not engaged in any programmatic sales. A total of 0.42% of the world’s XRP volume was sold by Ripple in the third quarter.
