This article was first published on: Insights – Ripple --
In order to continually improve the health of XRP markets globally, we share regular updates on the state of the market including quarterly sales, commentary on previous quarter market developments and company-related announcements.
In Q3 2017, market participants purchased $19.6 million directly from XRP II, LLC* — our registered and licensed money service business (MSB). These participants tend to be institutional buyers and their purchases include restrictions that mitigate the risk of market instability due to potential subsequent large sales.
Additionally, XRP II, LLC sold $32.6 million worth of XRP programmatically as a small percentage of overall exchange volume. For Q3, the sales represented 0.20 percent (20 basis points) of the total $16.50 billion traded, an 11 basis-point increase from Q2 2017’s 0.09 percent (9 basis points). The increase was primarily due to an expansion of the number of exchanges on which Ripple sells XRP.
*XRP II, LLC is licensed to engage...
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