Ripple Labs releases 1 billion XRP coins from escrow

Ripple Labs releases 1 billion XRP coins from escrow
фото показано с : invezz.com

2023-6-1 10:42

Ripple Labs has today unlocked 1 billion XRP tokens from escrow as part of the monthly XRP token distribution. Today’s token unlock was done in three different transactions from escrow.

The San Francisco-based fintech company has been at the top of crypto news in the recent past for its ongoing court case with the US Securities and Exchanges Commission (SEC). The SEC is out to prove that Ripple Labs erred in selling an unregulated security, the XRP token.

The routine XRP token unlock

The open-source digital asset XRP is pre-mined and has a maximum token supply of 100 billion tokens. However these pre-mined tokens were distributed to Ripple, the parent company of the open-source blockchain XRP ledger (XRPL), and Ripple co-founders and the core team.

Ripple received 80 billion tokens while the company’s co-founders and the core team received 20 billion. To ensure a stable supply of XRP tokens, Ripple locked 55 billion tokens out of the 80 billion tokens it received. It is out of these locked tokens that Ripple has been routinely unlocking.

In today’s token unlock, ripple first unlocked 300 million XRP tokens, then unlocked 200 million tokens, and lastly unlocked 500 million XRP tokens bringing the total amount of XRP tokens unlocked to 1 billion.

Impact of XRP token unlock on XRP price

The law of supply and demand has played out right into today’s XRP token unlock.

The sudden dumping of 1 billion tokens into the XRP token circulating supply has caused a slight drop in XRP price, which has been performing quite well in the past few weeks as the cryptocurrency community looks forward to a win in the ongoing court case. The case is expected to be concluded very soon with some hinting that it could even be determined by the end of July.

The post Ripple Labs releases 1 billion XRP coins from escrow appeared first on Invezz.

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$ 0.4998 (-0.38%)
Объем 24H $987.352m
Изменеия 24h: -0.06 %, 7d: -3.58 %
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xrp escrow labs billion ripple token releases

Источник: invezz.com

xrp escrow → Результатов: 126


Something is Wrong With Ripple’s XRP Escrow Reporting

Blockchain analysis and data firm, Coin metrics, has published a report that claims Ripple’s reports on their escrow service for XRP should probably be taken with a pinch of salt. This is because it found a few significant inconsistencies between the actual information found on the XRP ledger and what Ripple reports as the specifics […] The post Something is Wrong With Ripple’s XRP Escrow Reporting appeared first on ZyCrypto.

2019-5-18 08:42


На эскроу-счете Ripple разморожены 1 млрд токенов XRP

Калифорнийский финтех-стартап Ripple высвободил со счета условного депонирования 1 млрд монет XRP на сумму $308,89 млн. 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (308,891,433 USD) unlocked from escrow at Ripple Escrow wallet Tx: https://t.

2019-5-1 17:49


Ripple’s Q1 report called out by Messari Crypto Founder over manipulation of facts

Users, especially the ‘XRP Army,’ have always been excited about being notified about Ripple and news about its tie-ups and developments. The latest development out of Ripple’s stables is its Q1 report for 2019, which provided insight into the amount of XRP taken out from the escrow account and an overall overview of the company’s […] The post Ripple’s Q1 report called out by Messari Crypto Founder over manipulation of facts appeared first on AMBCrypto.

2019-4-25 16:00


Q1 2019 XRP Markets Report

Ripple sold $169.42 million of XRP in Q1 2019 Ripple’s Q1 sales accounted for 0.32 percent of global XRP volume Three billion XRP were released out of cryptographic escrow, 2.30 billion returned to escrow XRP is now listed on approximately 120 exchanges worldwide   Sales Summary (dollars in millions) Q4 2018 Q1 2019 Institutional direct … Continued The post Q1 2019 XRP Markets Report appeared first on Ripple.

2019-4-25 19:00


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