Only 1.2 billion XRP added in circulation in 2019
XRP supply has been increasing a bit slowly. According to data from Coinmarketcap, only 1.2 billion XRP tokens have been added in the year 2019. Based on the current value of a single XRP token the new tokens are worth a total of $480 million.
Although the Q1 report from Ripple for 2019 has not been released yet, data shows that the circulating supply of XRP has been increasing slowly. According to XRPs mechanism of increasing circulating supply, a total of 3 billion XRP tokens should have been added in the past 4 months.
According to data released by Ripple, they sold $530 million worth of XRP in the entire 2018. In terms of comparison with 2018 data, It hasn’t been declared yet for how much the 1.2 billion XRP were sold for,
How does XRP supply increase
Unlike Bitcoin, XRP is centrally controlled by Ripple Inc. That means there is no mining. Ripple Inc is the issuer of XRP tokens and they are in a position to print how much ever they want. According to Ripple Inc, a total number of XRP will be less than or equal to 100 billion tokens.
To limit the supply of XRP and bring predictability in the circulation supply XRP has locked 55% (55 billion tokens) in an escrow. The escrow releases a total of one billion XRP each month over the next 55 months.
The released tokens are then sold to institutional investors, exchanges, etc. Any unsold XRP is locked back in the Escrow and the process continues.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Leave a Reply