XRP token accounts for 82% of Australian crypto trading volumes
- XRP tokens dominate Australian crypto exchanges.
- XRP accounted for 82% of all cash volume on the independent reserve exchange.
- Crypto traders bought and sold over $1.06 billion XRP in the last 24 hours.
According to Australian Financial Review, the XRP blockchain token now dominates the transaction volumes of local crypto exchanges. The report released earlier today revealed that over the past 24 hours, XRP accounted for 82% of all cash volume on the Independent Reserve Exchange and 62% on Melbourne-based BTC exchanges.
Melbourne-based Markets CEO Caroline Bowler claimed that XRP dominates trading volumes on the exchange because BTC Markets is the Australian on-demand liquidity partner Ripple (ODL).
Indeed, ODL helps businesses manage cross-border payments without the need for correspondent banking or pre-funding fees. It uses XRP to help facilitate some of this process, hence the trading volumes on our platforms.
According to market-tracking platform, CoinMarketCap, the Ripple token is worth $0.3906, with an increase of 7.72% in the last week. Crypto traders have bought and sold over $1.06 billion worth of XRP in the past 24…
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