RIPPLE COIN NEWS........... suc: COINDESK
A new report from distributed ledger startup Ripple suggests institutional investors are increasingly interested in its native cryptocurrency, XRP.
According to the San Francisco startup, its licensed subsidiary sold $31 million worth of XRP during Q2 2017. The figure was up threefold from Q1, when it recorded $6.7 million in sales.
According to the report, $21 million in such purchases came from institutional investors who actively approached the company through Ripple's licensed money service business. The company sold an additional $10.3 million XRP in a more passive way through sales of the asset to fund its operations.
On public exchanges, Ripple also noted an increasing volume of fiat-for-XRP purchases during the same period, again suggesting an increasingly more mainstream audience.
While bitcoin contributed to 85% of total exchange-traded XRP volume in Q1, this number dropped to 63% by the end of June, according to the company.
As of press time, XRP is trading at $0.17, down from $0.40 on May 17, its most recent all-time high.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.
Ripple token image via CoinDesk archieves
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.coindesk.com/ripple-reports-uptick-investor-xrp-interest-sales-triple-q2/
Resteemed your article. This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
Congratulations @idakwo1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of upvotes
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP