The Ripple company, whose “unregistered sale of securities” lawsuit with the US Securities and Exchange Commission has been going on for 2 years, has released its 4th quarter report of 2022.
In the report, which also evaluates the general crypto money market, the 4th quarter was described as a “very difficult period” for the crypto industry. In the report, which stated that many personal and institutional investors withdraw their funds from the stock markets, it was noted that the majority turned to individual custody services.
$226 million net sales of XRP
It was stated that sales of 2 billion 964 million dollars were made in the On-Demand Liquidity (ODL) system, which is Ripple’s cross-border payment solution, while total purchases were recorded as 2 billion 737 million dollars. Net sales were $226 million. It was stated that the sales figure in the third quarter of 2022 was 310 million dollars. While it was reported that ODL was started to be used in Sweden and France, the number of countries where the system was implemented globally increased to 40.
3 billion dollars circulated, 2.1 billion imported
On the other hand, it was reported that the amount of XRP coming out of Ripple “vaults” was 3 billion units this quarter and 1 billion dollars were put into circulation every month. It was reported that 2.1 billion of this figure was returned to the safes.
It was stated that the total XRP volume on a global scale was $ 64.3 billion, while this figure was $ 72.6 billion in the third quarter. Bankruptcy events in the cryptocurrency markets were cited as the reason for the declines.
101 thousand XRP burned
While there was a significant increase in the number of new wallets compared to the third quarter, the figure rose from 125 thousand to 228 thousand. This number was 625 thousand in the 4th quarter of 2021. Also in Q4, 101,968 XRP from transaction fees was burned. This figure was 146 thousand in the third quarter.
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