XRP Has the Fastest Growing Adoption but Liquidity Index Continues to Crash
Despite the gaping surge in XRP liquidity along Mexico, Australia and Philippine payment corridor since the start of the year, the month of July has discouraging for XRP has the liquidity index of the cryptocurrency continues to crash. This is happening around the time a report claimed the number of crypto merchants using the remittance oriented cryptocurrency surged greatly, and XRP has the fastest growing adoption.
Contrary to what is obtained at present, the month of XRP Liquidity printed high figures in the month of April and May along the three payment corridors.
Along the Australian corridor, the liquidity index of the cryptocurrency is around $1,000,000 compared to the over $15,000,000 printed in May.
Also, after recording over $11,000,000 and $8,000,000 in May, XRP Liquidity along the Philippine corridor is now around $1,000,000.
Lastly, the Mexican corridor where MoneyGram promised to use XRP, the liquidity is just slightly above $10,000,000 after recording over $36,000,000 in May.
XRP Has the Fastest Growing Adoption, See 46% Increase in Crypto Merchant Adoption
Following the over 46.6% growth witnessed in the number of merchants accepting XRP, Cryptwerk, an online crypto merchant directory, has said XRP has the fastest growing adoption among 6 cryptocurrencies it recently rated.
Cryptwerk claimed that even through XRP is the six most popular cryptocurrency among merchants, the native token of Ripple, among Bitcoin, Liteocin, Ethereum, Dash and Bitcoin Cash, has the fastest growing adoption.
At the time of writing, 3,272 dealers have been recorded to accept Bitcoin against 2,731 at the beginning of the year, amounting to 19% growth.
Ethereum follows on the list, with 18% growth after recording 1,722 brokers compared to 1,397 brokers in December.
Litecoin has increased from 1,066 To 1,353 traders, Bitcoin Cash’s merchants grown from 975 to 1,331 and Dash has also risen from 619 to 760.
In year 2020, the number of traders accepting XRP is speedily increasing at a jaw dropping rate. Compared to 2019, the number of firms making use of XRP surged by 46.6% growth Cryptwerk can confirm.
XRP is an autonomous digital currency, native to the XRP Ledger. XRP is said to be the most effective payment alternative for economic institutions and liquidity providers, who seek to reach the universe in a fast and accessible way.
Ascendancy and debauched transaction validations are features that make XRP distinct. Ripple has verified that those who use XRP digital asset to source for fund, do so in the twinkling of an eye.
In late 2019, 457 corporations were reported to accept XRP for payments. The number has since skyrocketed to 670 establishments, a huge upsurge of about 46.61% within the duration of seven months.
According to Cryptwerk, 22% of the companies that accept XRP crypto token, operate in the United States.
This is followed by businesses in United Kingdom and India amounting to 10% and 5% respectively of all traders accepting the cryptocurrency.
This year, BitPay, a US-based crypto payments provider, is the highest payments firm to incorporate XRP.