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XRP Ledger Reaches Important Milestone, Surpassing 1.5 Mln Accounts

  • Alex Morris
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    Given that XRP accounts require funding, this metric is more reliable compared to other cryptocurrencies


XRP Ledger Reaches Important Milestone, Surpassing 1.5 Mln Accounts
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Contents

 

According to XRP Stats, there is more than 1.5 mln account on the XRP ledger. This is a significant milestone for the second biggest currency.


XRP Ledger Reaches Important Milestone, Surpassing 1.5 Mln Accounts

Interesting statistics

For comparison, Ripple had less than 1.3 mln accounts back in June. One should keep in mind that this number also includes hot wallets of cryptocurrency exchanges.

Notably, the top 100 accounts own 78.74 percent of XRP. There are only eight accounts that own more than eight bln in XRP. Meanwhile, the lion’s share of accounts (1.01 mln) holds anywhere between 20 XRP and 499 XRP.    

It is worth mentioning that Ripple owns 60 bln out of the total 100 bln of the total XRP supply, which raises centralization concerns. However, Cory Johnson, Ripple’s new chief market strategist, earlier dismissed these accusations, claiming that a cryptographic lock prevents them from selling off XRP tokens.   

Not a vanity metric

While some may call this a vanity metric, one should keep in mind that this is not the case with XRP given that there are minimum funding requirements. In order to activate an account on the XRP ledger, an address must hold at least 20 XRP.

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If an address holds less XRP than required, its owner won’t be able to perform any transactions (however, the address still exists in the ledger and it can be easily retrieved if the user meets reserve requirements).

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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