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Cory Johnson is Ripple's Chief Market Strategist and in March 2018 he joined the company. Prior to Ripple, Johnson worked at Bloomberg TV focusing primarily on both TV and Bloomberg radio technology. He is a former fund manager and his task at Ripple can be summarized as an explanation of the Ripple and XRP company to investors and the world at large.
Cory Johnson promised to do just that when he said the following after joining Ripple: [19659003] I will try to explain, listen and set strategies to make it easier for Wall Street and the finance world to understand what we are doing.
It is therefore no surprise that Cory Johnson tweeted that Malta is the new main trader of XRP and not South Korea. The tweet can be found below:
We touch on our market report quarterly of Repple showing that Malta – not South Korea – is now the main operator of #XRP . https://t.co/UCIPT9QBh7
– Cory Johnson (@CoryTV) 30 July 2018
Mr. Johnson was responding to an article highlighting the four countries and territories of Malta, Bermuda, Gibraltar and Liechtenstein as the most friendly cryptocurrency in the world. In Nathaniel Popper's article, he says that officials in these countries have recently passed laws, or have legislation in place, to make their countries more welcoming to cryptocurrency societies and projects.
Compared to the quarterly market report of Cory Johnson for the 2nd quarter of 2018 (which was co-authored by Miguel Vias), he states that Ripple sold $ 73.53 million in XRP during this period of time. This amount represented 0.125% of the total XRP volume. This figure is welcome for such a low percentage that the Ripple company does not intend to flood the markets with XRP. In fact – and in the same report – Ripple managed to release 3 billion XRP from Escrow in Q2 and to return 2.7 billion XRP to the same Escrow.
The report also found that XRP had a percentage decline similar to that of Bitcoin (BTC) during the same period. BTC decreased by 8.2% in the second quarter, while the XRP decreased by 9%. This stability in line with that of the King of Crypto, makes XRP suitable as a base pair in exchanges. Another option would be to have a good amount of your crypto portfolio in XRP to protect yourself from price fluctuations during times of market turbulence.
The quarterly report also touched on the Coil project run by Stefan Thomas, Xpring and the entry of large wallstreet companies into the encrypted space. These companies include Goldman Sachs, JP Morgan, Nasdaq, Fidelity and Nomura. The entry of these companies into a crypt is a clear indication of a growing interest from institutional investors in the potential of digital resources.
Disclaimer: this article does not provide financial advice. Any opinion here should be taken as well as it is. Perform your research before investing in one of the many cryptocurrencies available.
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