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48% increase in Ripple sales, with more institutional buying

48% increase in Ripple sales, with more institutional buying

July 25, 2019, | AtoZ Markets –  Ripple has unveiled its Q2’s revenue, which marks around a 48 per cent increase their sales in comparison what Q1 showed.

Their report, published unveils as well that their institutional buying has boosted too.

Ripple’s total sales of XRPs have spiked to $251 million in the second quarter, where they were $169 million in in the first quarter.

On the other hand, the distributed ledger firm reported that their institutional sales also maximized nearly 73 percent, reaching $107.9 million from $61.9 million.

The report also mentioned that the firm’s programmatic sales still make up for the majority of sales volumes with $144.6 million made in the second quarter up from $107 million in the first.

Ripple needs liquidity more now!

The company unveiled as well that it intends to pull back from certain exchange markets in pursuits to target where liquidity is most needed, that thing that their business pace recently, may negatively impact institutional direct sales.

Among the other details the report revealed, Ripple’s global trading volumes dropped 28 percent quarter over quarter, marking a decline from $595 million to $429.5 million.

Ripple has recently made some major advances, where the cecond largest stock exchange in Germany on-boarded Ripple investments as AtoZ Markets reported last May.

Börse Stuttgart approved listing both litecoin and XRP exchange-traded notes (ETNs)- a step that is considering to encourage the ripple investment in Germany, as per analysts.

“For the first time in Germany, investors can now buy and sell exchange-traded notes (ETNs) based on the cryptocurrencies Litecoin and Ripple (XRP). The four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona,” said the Börse Stuttgart’s team, the exchange that ranks the ninth largest one in Europe.

May 2019 started as well with NASDAQ adding Ripple XRP index after listing BTC and ETH.

On 29th April, Nasdaq, the second largest stock exchange, announced that the development was achieved in partnership with Brave New Coin (BNC), a renowned New Zealand blockchain data and research company that partnered with the exchange in February 2018. Today, XRP branded as XRP Liquid Index (XRPLX), that will provide real-time data on XRP on Nasdaq’s global data platform.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.