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1/11 Ripple released its Q4 2020 XRP Markets Report.
My summary. Est read time is 2 mins.
Full report at: https://ripple.com/insights/q4-2020-xrp-markets-report/
My summary. Est read time is 2 mins.
Full report at: https://ripple.com/insights/q4-2020-xrp-markets-report/
2/11 Ripple ended 2020 strong with record customer numbers and ODL volumes. ODL had 12x year-over-year growth w/a notional value of ~$2.4B. 15+ new customers signed despite the SEC lawsuit. Ripple processed about 3 million transactions over RippleNet in 2020 (5x 2019).
3/11 SEC lawsuit cost $15B+ of XRP value in the open market, not accounting for the 50% rally in the rest of crypto over the period. SEC caused havoc and prompted U.S. market participants to withdraw from a massive global virtual currency market.
4/11 33 market participants announced some sort of restrictive action against XRP. Most paused activity rather than delist. Ripple estimates that roughly $200M of XRP volumes were impacted, or 12.49% of prior $1.6B daily XRP volume.
5/11 SEC enforcement action has brought the industry from regulatory uncertainty to regulatory chaos at the expense of retail holders w/no connection to Ripple. Tragically, individuals/markets the SEC hurt are the same participants the SEC purports to protect.
6/11 However, most XRP volumes remained intact and many market participants moved forward with business related to XRP outside the U.S. This further underscores the fact that the U.S. is out of step with its international counterparts.
7/11 Last qtr total XRP sales by Ripple were $76.27 million (USD) vs $35.84 million the previous qtr. OTC sales/leases only for providing increased XRP liquidity to RippleNet ODL customers. Ripple has not sold XRP programmatically for 1+ year. Total sales were 0.05% global XRP.
8/11 DBS (largest South Asia bank) announced the launch of its digital exchange for institutional/accredited investors to trade and custody digital assets. DBS will offer exchange services between four fiat (SGD, USD, HKD, JPY) and four crypto (BTC, ETH, BCH, XRP).
9/11 Standard Chartered Ventures announced its partnership with Northern Trust to launch Zodia, a cryptocurrency custodian for institutional investors, providing custody services for top assets including XRP.
10/11 XRPL/Interledger Protocol combined reach an estimated 12 million users, w/over 100 known projects solving real use cases with blockchain/crypto. RippleX partnered with 40+ companies using XRP including Coil, Forte, BRD, Bitpay, XRPL Labs and Flare.
11/11 SUMMARY: Ripple and XRP are doing very well despite the SEC's unconscionable actions that harmed retail investors.
There's quite a bit more so I recommend you read the full Markets Report, but those are the points that stood out to me personally.
There's quite a bit more so I recommend you read the full Markets Report, but those are the points that stood out to me personally.
