While many crypto giants collapsed in the second quarter, including Terra, Three Arrows Capital, Celsius, and BlockFi, Ripple has affirmed that it made significant strides to increase the utility of the XRP ledger and its On-Demand Liquidity service.
Ripple Increases XRP Sales
Ripple released its second quarter markets report Thursday, revealing a substantial increase in XRP sales and the utility of its On-Demand Liquidity (ODL) service.
The U.S.-based firm affirmed that its second quarter was a success. According to the report, the volume of its ODL recorded 800% year-to-year growth thanks to multiple partnerships that helped accelerate demand. One of the firm’s most significant partnerships was with the Lithuanian money transfer provider FINCI, which aimed at delivering instant and cost-effective retail remittances.
With the global expansion of ODL, Ripple also increased XRP sales by around 50%. The firm sold around $408.9 million worth of XRP in the second quarter, adding to the...
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