When first listed on Uphold, Ripple’s XRP accounted for less than 10% of platform monthly purchases. That figure has now risen to 43%

Uphold is a cloud-based financial services platform that supports more than 30 fiat and crypto currencies and is available to customers in over 180 countries.

Their digital wallet is designed to make it quick and easy to store assets, send funds to other Uphold users around the world and instantly exchange between currencies.

Uphold came out with some statistics about the use of their platform and what cryptocurrencies are their customers most interested in buying.

Considering the strong, community driven hype around XRP token, it comes as no surprise to see XRP right on the heels of bitcoin as the most purchased cryptocurrency for Uphold users. XRP recorded by far the largest growth in number and amounts of purchases.

  • In terms of net inflows, the big story was XRP. Even with a market cap only 20% that of BTC, XRP emerged as the second most heavily bought asset on Uphold over the four-week period, coming within 98% of the US Dollar value of all Bitcoin purchased.
  • Steady growth in XRP holdings continued and most holders of XRP held their nerve. XRP buys ran at almost six times the value of XRP sales in the month.

This report is the last official one by Uphold but they did report via their Twitter that XRP surpassed BTC as the largest asset measured in USD.

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‘The past month underlines the continuing rise of interest in XRP,’ explained Rafael Veloso, Uphold’s Chief Data Officer.

This prompted XRPArmy to start another campaign for their token, asking Uphold to make XRP “the standard” on their platform. These campaigns are actually effective as Binance recently budged and listed XRP as the base pair on their exchange.

‘When first listed on Uphold earlier this year, XRP accounted for less than 10% of platform purchases each month. Over the past month, that figure has risen to 43%. Many buyers believe – and Tweet – that XRP has a well-developed use case and is enjoying higher levels of institutional adoption than other digital currencies. Ripple’s xRapid payment technology continues to be picked up by big banks, with XRP providing a liquidity bridge.’

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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