Main navigation

Billion Dollars Worth of XRP Held by This Platform, Shows Actual Report

Wed, 07/05/2023 - 16:00
article image
Gamza Khanzadaev
Fresh report reveals this platform's billion-dollar XRP stash
Billion Dollars Worth of XRP Held by This Platform, Shows Actual Report
Cover image via
Read U.TODAY on
Google News

Uphold, a prominent crypto broker, has unveiled its reserves data, shedding light on substantial holdings of XRP tokens. The report has captivated the XRP community, revealing that Uphold currently holds an impressive $1.056 billion worth of XRP in its reserves.

XRP, XDC Demonstrate Resilience Amidst Regulatory Uncertainty, Uphold's Head of Research Says

The assets held by Uphold effectively cover the obligations beyond XRP holders, per the latest data. This noteworthy report has also drawn attention from renowned attorney and digital asset enthusiast John Deaton, who commended Uphold's XRP balance sheet.

The figures indicate that XRP accounts for approximately 28.5% of the total transactions conducted on the Uphold platform, with a combined total exceeding 17.4 million transactions. This usage and adoption of XRP on Uphold further emphasizes the popularity of and demand for the digital asset among users. What adds to its significance is the revelation that XRP assets make up approximately 59% of all assets on Uphold.

Among other things, Uphold's report demonstrates that the platform's coverage surpasses liabilities, standing at 101.3%. This in some way reinforces the broker's commitment to maintaining a solid financial standing.

Lead Ripple Dev Explains XRP Burn Spike as 247,000 Tokens Gone

The release of this data definitely highlights the platform's dedication to ensuring a secure environment for its users. Nevertheless, one should not forget the number one rule of the crypto market: not your keys, not your coins.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.