One of the most rapidly growing cryptocurrencies at the moment, Ripple, has dropped $22 billion in its market cap after Coinbase rejected the rumors connected to the potential integration of the Ripple technology in the platform itself.
The most popular exchange and wallet platform (Coinbase) has refuted the rumors that Ripple (XRP) and other cryptocurrencies will be integrated into its GDAX, flagship digital currency exchange.
Even though $22 billion is nothing to the fast growing Ripple, the rejection made a lot of people change their mind about investing in the cryptocurrency. The price of Ripple is now sitting still at $3.48, after growing nearly 4000% in a matter of weeks.
The CEO of Coinbase firmly stated that neither Coinbase or GDAX will integrate such cryptocurrencies or digital assets in the short term. In a blog post, the company said:
“A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework. These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions.
As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”
https://www.twitter.com/brian_armstrong/status/948996330952654848
Currently, Ripple has dropped around 6% of its value in 1 day and is sitting at a market cap of $134 billion which is slightly more than half of Bitcoin’s market cap and a quarter more than the third-placed Ethereum.
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