Ripple quarterly report shows Malta, “not South Korea”, is now “the leading trader of XRP” 19990
News
Madhurima Roy
Aug 1, 2018 at 10:42 AM

The quarterly report of Ripple has confirmed that Malta has surpassed South Korea to be the leading trader of Ripple. Cory Johnson, the Chief Market Strategist at Ripple confirmed the statement on 31st July, stating: “We touch on this in our @Ripple quarterly markets report, which shows that Malta -- not South Korea -- is now the leading trader of #XRP.” Ripple had the best quarter ever in its Q2  in terms of customers signed and confirmed that it sold $73.53 million XRP.

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Why Malta is leading?

Malta encourages blockchain technology in the country and has officially acknowleged cryptocurrencies. On 4th July, the government of Malta has passed three laws that allow companies to easily issue new cryptocurrencies and continue the hassle-free trading with the existing ones. The same day, the Prime Minister and Leader of the Labour Party, Joseph Muscat, tweeted: “#Malta officially the first country worldwide to have holistic legislative framework regulating #blockchain & #DLT technologies. We will be the #global hub for market leaders in this new sector. Now for the implementation of #BlockchainIsland -JM @SilvioSchembri

SEE ALSO: Regulatory intervention “thrilled” Ripple; XRP may have no correlation to Bitcoin [BTC] in future

With Malta taking some deep interest in blockchain and cryptocurrencies, it is very evident that Ripple, which is already the top exchange all across the globe, will be able to do trading in XRP with ease in the country.

Ripple had the best quarterly report

Ripple had the best quarter ever in its Q2  in terms of customers signed and sold $73.53 million XRP amidst low volatility. In Q2 2018, the company sold $56.66 million XRP programmatically, which represented 0.125 percent, or 12.5 basis points of the total XRP volume traded globally in the second quarter.

According to the Q2 report, the XRP price continued to have a dip with those of other digital assets, underscoring XRP’s independence from Ripple.

 

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