Ripple released its annual report, showing XRP sales of $ 535.56 million per year: sales declined in the fourth quarter, but trade volume increased.
According to a report published by the company, Ripple sold XRP chip sales for $ 535.36 million in 2018: almost a third (171 million) came from institutional investors and more than 363 million sales through third parties.
In the fourth quarter, according to the report, Ripple sold tokens for $ 129.03 million, 20% less than the previous quarter of 163.33 million.
One reason for the decline was the effect of direct sales to institutional investors through the Ripple II, which sold for $ 40.15 million in the fourth quarter, which represents half of the third quarter of 98.06 million. how to implement restrictions to avoid large peaks of volatility.
At the same time, program sales (through third-party market) increased: from 65.27 million in the third quarter to 88.88 million in the fourth. In addition, despite the fall in sales in the fourth quarter, trade volume increased 44% to $ 54.8 billion. It is true that, according to the Bitcoinist publication, recently familiar sources said that the volumes traded could be handled by the company.
The report emphasizes that XRP usage is growing: now the token is located at more than 100 sites worldwide, representing a 100% growth over the previous year when the token was available on only 50 sites.
Launched in October 2018, xRapid cross-border payment solutions, as noted in the company's annual report, have attracted financial institutions such as Catalyst Corp and Mercury FX. Recall that at the beginning of last year, Western Union has confirmed that it is testing with Ripple.
In December, Visa announced a $ 250 million acquisition of Earthport, a leading Ripple partner, which has developed a unique solution for international transfers between financial institutions.
Sign Bitnovosti in the telegram!
Share your opinion on this news in the comments below.