- Ripple has recently sold tokens worth $408.9 million in the second quarter
- On-Demand liquid continues to gain global momentum
In the second quarter of 2022, Ripple’s $XRP powered On-Demand Liquidity (ODL) has marked a significant growth in its volume. In this quarter, tokens of almost $408.9 million were sold, and also the company witnessed a volume growth of 9x year-over-year. In the first quarter, sales of tokens were about $273.27 million.
An XRP Markets report of 2022’s second quarter was issued by Ripple in which it stated that the On-Demand Liquidity had made a record in this quarter, as the volume was steadily growing. The clients were also willing to grow the ODL’s use cases over traditional and individual payment modes.
According to the company, the main reason for increasing volume on the platform is because of treasury flow and bulk payments:
“Our company has been continuously indulged in sales which are only related to On-Demand Liquidity, and we have marked the volume growth to a larger extent as the company’s ODL business has grown worldwide.”
The company highlighted the point that Ripple has been a buyer of XRP in the secondary market and is willing to take up buying at future market prices if On-Demand Liquidity keeps up the energy to achieve global momentum.
CryptoCompare, a cryptocurrency data provider platform, has issued its Top tier volumes in which it disclosed that the sales of global XRP volume ended at 0.47% in Q2 of 2022.
The report provided by Ripple pointed to some wallets as some of the wallets purposely used for XRP can also give you short-term leases to both the bear market and members. Still, it is portrayed negatively by market members. In the second quarter, a total of 115.3 million XRP leases remained outstanding.
The co-founder of Ripple gained about $3 billion.
As per the report, Jed McCaleb, the co-founder of Ripple, has gained $3 billion by selling his tokens. He owned almost 9 billion tokens in 2013 by selling the $XRP on his XRP Ledger “taco stand” wallet.
The cryptocurrency enthusiasts predicted that McCaleb would keep the price down for XRP sales as the founder was getting continuous selling pressure every time on its sale of the tokens.
The XRP Ledger remarked a total worth of $58.3 billion and 126.5 billion XRP in volume through 114.6 million transactions.
Source: https://www.thecoinrepublic.com/2022/07/30/ripple-touched-a-408-million-bar-in-q2-due-to-odl/