Ripple price rises by 13% after the announcement of the freeze of part of the startup tokens
Ripple has been losing ground for most of the week and hit a low of $ 0.222 this morning, after which moved on to confident growth and at the peak has reached marks $ 0.278. Daily volume trades at this is about $ 700 million, and half of this volume is focused on South Korean exchanges Bithumb, Coinone and Korbit.
Probable cause growth was Ripple’s announcement of freeze 55 billion XRP tokens. Every month Ripple will be unblock 1 billion XRP for for own needs, and unused tokens will be put back into the storage.
This announcement somewhat reassured traders who feared that too many XRP tokens could enter the market, which could lead to a drop in the rate. Although such a scenario is considered unlikely, is he available, since Ripple owns almost 2 times as many XRP tokens, than is now on the market.
“After moving the lion’s share XRP in the store, people will be able to mathematically calculate the maximum supply, which can appear on market. Although Ripple has proven itself in quality the responsible custodian of XRP tokens, this freeze relieve investors from any fears about Togo, that Ripple could flood the market. As we reported earlier, this the scenario could have negative consequences for Ripple itself “, – writes company in his blog.
ABOUT decision to freeze tokens Ripple reported a few months ago, so today’s event was not a surprise. Topics however, this news had a positive impact on course of the fourth largest cryptocurrencies, capitalization of which at the time of publication is $ 9.7 billion.
Photo: Wit Olszewski