According to Ripple’s Q4 report for 2018, Ripple sold $535.55 million worth of XRP in 2018 so we are taking a closer look in the report in today’s altcoin news.
The report notes that the sale of XRP tokens in Q4 2018 was close to $130 million which is approximately 0.24 percent of the global XRP volume. The average XRP daily volume for Q4 2018 was close to $585 million and it is the highest level since the first quarter of 2018.
3 billion worth of XRP was released during the Q3 in 2018 while 2.4 billion were returned. The report shows that the remaining 600 million XRP that were not returned to an escrow is now used in ‘’multiple ways to help support the XRP ecosystem, including the RippleNet Accelerator Program and Xpring investments like Securitize.’’
The high volatility of XRP led to daily returns up to 5 percent in Q4 which is the lowest value since 2016 Q4. In the last quarter of 2018 the correlation of XRP price movements that were ‘’returned to the elevated levels seen through the end of the first quarter of 2018 to Q3 in 2018.’’
Before releasing the report, the crypto analytics company Messari published their own report where it shows that the XRP’s market capitalization could be overestimated by as close to $6 billion. The report points out that the liquid circulating supply of XRP could be overestimated by 48 percent thus the actual market cap stands at $6.9 billion instead of the $13 billion reported.
Messari also noted that it is impossible to make precise estimates without having a disclosure from Ripple themselves which still hasn’t happened.
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