The intelligence firm blockchain also concludes that Ripple’s day-to-day business is dominated by exchanges and large corporations. According to the report, daily XRP transactions over the past 30 days average 37 thousand transactions with 120 million XRP being moved per day. In this sense, the report shows a unique pattern in the token activity. As shown in the graph below, XRP trading activity decreases on weekends, which, according to Flipside, only occurs with the XRP token. This in turn indicates that the majority of XRP activity is caused by payment processors such as Ripple’s partner MoneyGram and professional investors.
According to the report, during the last 30 days, 1.009 billion XRP have been moved from Ripple’s escrow. Flipside Crypto notes that only 10% of the amount moved has reached the exchanges for sale, the rest returned to the escrow. Ripple releases one billion XRP every month and returns those that are not sold to his escrow account. Flipside Crypto found that the recorded activity and announcements of the XRP sale are consistent.
Author : Reynaldo