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- Ripple starts 2019 with a bang
- The receiving portfolio carries 4.5% of the entire XRP supply
- Experts believe that XRP is the cryptocurrency of the future
Ripple started the year 2019 with a thunderous bang, shifting titanic amounts of XRP. The Ripple register witnessed a series of gigantic transactions, transaction fees for which peanuts cost.
According to a tweet of January 1st Whale Alert, whale watchers have traced several abnormally large transactions that have transferred at least 2,133,569,088 XRP to a value of approximately $ 755 million. As a report, the funds were transferred from an unknown portfolio to the Ripple OTC Distribution portfolio with each of the seven transfers lasting only four seconds and commissions combined for all transfers made at less than one cent.
The transactions were tracked using the explorer blockchain Bithomp, which shows that the transaction fees were approximately 0.005 XRP, which is equivalent to about $ 0.0017 at the time of writing.
According to the report, the receiving account carries 4,516 billion XRP, which represents at least 4.5% of the total offer of XRP while the transaction represents at least 1.1% of this offer. Currently there are only 40.79 billion XRP tokens in circulation and the OTC portfolio contains over 10%.
2018 was a difficult year for cryptocurrency holders as the bear market devastated the crypto-spheres from the Bitcoin virtual currency which approached 80 percent with all the other altcoins that followed l & # 39; example. The damage was so severe for Ethereum (ETH) that his fall saw Ripple (XRP) replacing it as the second most valuable coin, although the XRP itself had dropped by as much as 84% from its peak of 2017.
While the price is just one of many metric experts used to evaluate the overall performance of a currency, the bulls are optimistic that cryptocurrencies are going to come back after the cryptic winter that has lasted for a year. Crypto's influencer Jed McCaleb, one of the main contributors to the development of Ripple (XRP), is among the strongest supporters of this notion that he believes that the liquidation of XRP in Q2-3 2018 has contributed to the sell-off.
The bad year for cryptography is over and the effects of the volatile wave are still being tested by bringing cryptocurrencies like BTC, XRP and ETH. While users look for signs of recovery, Phillip Nunn, CEO of Blackmore Group, believes that XRP is the cryptocurrency of the future. On December 31, 2018, he tweeted:
"In its purest sense, $ BTC #Bitcoin is much more decentralized than $ XRP #ripple, but the fact is that a country controls most of Bitcoin's offer and mining and could essentially wrap it all up. This is worrying. "XRP is a big bet for traditional growth."
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