• 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 / Archives for asheesh birla

asheesh birla

Ripple SVP Reveals XRP’s New ODL Milestone as Token Puts Use Case on Display

August 21, 2020 by Akash Anand

Ripple and its native cryptocurrency XRP have had a rollercoaster year with the bearish dips at the beginning of the year followed by a resurgence in the second quarter. Despite the ups and downs, XRP seems to have made a real impact on the industry according to Ripple SVP of product Asheesh Birla.

Birla, who is quite popular on Twitter, recently posted a thread where he touched on how the third-largest cryptocurrency had displayed strength and resolve over the course of the past few months. The Ripple official also touched on the benefits of the On-Demand Liquidity [ODL] system along with the vision for XRP’s future.

In his series of tweets, Birla claimed that XRP was the major bridge currency that was used on the ODL system. A deeper analysis showed XRP’s actual influence on the ODL market: a fifth of all currency transactions on it were XRP based. This was evidence that the cryptocurrency was still holding onto its utility factor despite the fall in price. 

It’s been a wild few weeks in crypto! OCC has greenlighted banks to get involved, #Bitcoin hits $12,000, DeFi is booming, futures products are soaring, and adjusted txn value for stablecoins hit an all-time high. And this is just a fraction of the news… (1/7) pic.twitter.com/XCGr9DaEVg

— Asheesh Birla (@ashgoblue) August 17, 2020

The Ripple SVP touched on how the past few weeks also saw several developments in the cryptocurrency industry. The Office of the Comptroller of the Currency had recently allowed banks to play a part in the crypto world while Bitcoin enjoyed a massive bull run that saw it break the $12,000 resistance. One of Birla’s tweets read:

“What’s one common denominator here? Likely global uncertainty with fiat currencies, and many in the crypto industry focusing on utility, beyond just speculation. Examples like Dodgecoin aside, there’s a new, growing focus on an asset’s use case, its tangibility. We’re seeing a melding of the old world and new. It’s only a matter of time before banks offer custody services, acquire companies with those capabilities, and potentially even offer crypto lending as they see consumer interest in DeFi.”

Asheesh Birla’s predictions may come true sooner than expected as a lot of banks are already toying with the idea of cryptocurrency lending. This may even enable the industry to achieve mainstream status as the link with a traditional bank is seen as a good step towards acceptance. The Ripple SVP was also confident that stablecoins will have a massive impact in the virtual asset space as already shown by Tether. One of Tether’s biggest success was giving people the option to access USD without a bank account and only by holding USDT.cl

Filed Under: Altcoin News, Industry Tagged With: asheesh birla, news, Ripple (XRP), xrp

Primary Sidebar

Recent Posts

  • Polkadot’s [DOT] Pullback Near $30 Appears Imminent March 8, 2021
  • Ethereum [ETH] Whales Now Owns ~70% Of Total Supply March 7, 2021
  • Did Justin Sun Just Bid $2M On Jack Dorsey’s First Tweet NFT? March 7, 2021
  • Ethereum Devs Induce EIP-1559 Into London Hard Fork; Will The Miners Revolt? March 7, 2021
  • Ethereum [ETH] Seeks Help From The Bulls To Get Back On Its Feet March 6, 2021


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 © 2021 · 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.