Ripple increases its income

Victoria SavchukOctober 29, 201823

Ripple startup has doubled its income by selling the digital asset XRP, according to the company’s report on the third quarter of 2018.

In its Thursday report Ripple announced that it sold $163,33 million XRP, while in the second quarter report the company claimed to have sold $75,53 million. The majority of income was obtained through institutional direct sales. The subsidiary company Ripple XRP II sold $98,06 million in comparison to the $16,87 million in the previous quarter. It has led to a substantial increase in software sales per quarter.

However, Ripple hasn’t yet succeeded in outperforming its result in the first quarter which was $167,7 million.

Ripple also informed about the issue of 3 milliard XRP from the escrow accounts in the previous quarter, yet 2,6 milliard tokens were placed on new escrow accounts. The rest 400 million XRP tokens “are used in different ways to help maintain XRP ecosystem,” the report says with no details about it.

Other important news from the Cryptocurrency world and Blockchain

We wrote earlier that Ripple CEO stated that Bitcoin gives way to XRP by 10 000 times.


Share with friends and people who are interested in it!

Victoria Savchuk