• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Ripple unlocks new achievement as XRP dominates volume on Bitso
Ripple

Ripple unlocks new achievement as XRP dominates volume on Bitso

October 21, 2019 by Akash Anand

Ripple and its native cryptocurrency XRP have had an eventful 2019 with developments and updates coming in from all quarters. This rapid movement has also resulted in the XRP taking majority shares across cryptocurrency exchanges with new reports coming in that the third-largest cryptocurrency had taken over Bitso, a popular cryptocurrency exchange.

Today, XRP Research Center, an XRP data aggregator tweeted:

“XRP/MXN is currently accounting for 𝟖𝟎% of the total trading volume at @Bitso

Bitso Liquidity Index reached a new ATH again.

Consistenly with comments on MoneyGram/Ripple, as we have entered into Q4, #ODL volumes have shown sustained incremental rates.

This is the beginning.”

Bitso’s total market volume was $2.81 million, with XRP selling at a price point of $0.29. XRP’s 80 percent hold was accentuated by the fact that Bitcoin, the world’s largest cryptocurrency, only occupied a 16 percent hold on Bitso. If one looks at the charts, it was pretty evident that the XRP and Mexican Peso pairing saw jumps in holding percentages from June 2019 onwards, after which the spike was anything but gradual.

The liquidity index rose by a factor of 3 by the time October rolled around as the performance of the XRP/MXN pair was quite abysmal at the start of 2018. Many users in the space had their own queries about the volume increase with MrReeves87, an XRP enthusiast tweeting:

“Does anyone know the arrangement with the exchange regarding price per transaction beyond the XRP burn fee? Wondering what kind of incentives the ODL market makers are getting.”

Other users in the community had their own opinions about XRP’s future placements, with some claiming that this dominance will be replicated across more exchanges. At press time, XRP was trading for $0.29, with a total market cap of $12.55 billion.

The native cryptocurrency of Ripple also held a 24-hour market volume of $1.64 billion. Despite having the lion’s share of the market volume on significant exchanges, XRP enthusiasts are still waiting for the price to go back to its earlier glory days.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Cryptocurrency Exchange, Ripple (XRP)

Primary Sidebar

Recent Posts

  • New Crypto Policy: Fed Reserve Promotes Level Playing Field For Banks January 29, 2023
  • Ethereum Poised For Growth In 2023: Experts Predict March Upgrade & Q4 Hot Spots January 29, 2023
  • Polygon Network Takes Second Place In Daily Active Users, Surpasses Ethereum January 28, 2023
  • Cryptocurrency Hazards: White House Outlines Plan To Mitigate Risks In New Framework January 28, 2023
  • Cardano Wallets Grow With Over 50k Added Since Jan.1 January 28, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.