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XRP Volume Worth $600,000 Traded on Major Exchange 2 Hours After Relisting

Thu, 01/05/2023 - 13:42
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Gamza Khanzadaev
Over half a million dollars in XRP traded hours after relisting on Bitmart
XRP Volume Worth $600,000 Traded on Major Exchange 2 Hours After Relisting
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Only hours after XRP was relisted on Bitmart, a major cryptocurrency exchange, trading volume has already reached and exceeded $600,000. As reported by U.Today earlier today, XRP was allowed to trade on Bitmart again after the exchange delisted it in the summer of 2021 amid a legal battle between the SEC and Ripple.

XRP Buyback Not Possible, Says Ex-Ripple Executive

Nevertheless, XRP trading has not been restarted without restrictions after its second coming to the new "old" exchange, as U.S. customers cannot trade the sixth largest crypto asset by capitalization.

Such volumes on Bitmart put the exchange right from the start in the top 20 in terms of XRP trading among all centralized crypto platforms. That said, there is only one trading pair — against USDT.

How's data on chain?

Trading on centralized exchanges takes place mostly off-chain, in the form of orderbook recordings, so listing on a major exchange and the growing liquidity of XRP has not had much impact on XRPL's performance.

XRP Ledger Gets New Amendment, Here's What It Should Fix

At the same time, the number of XRP accounts on XRPL has surpassed the important 4.5 million mark. More importantly, only 1,012 of them are empty, with the rest holding XRP.

That said, activity on XRP Ledger is moderate, with the number of daily transactions holding steady at 1.2 million, according to data, but the number of new activated accounts has been dropping since mid-November.

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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.