Messari Suggests Inflation Rate For XRP Is Significantly Higher Than BTC
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Messari, the well-known data and research company has recently indicated that ripples XRP token has an inflation rate which is coming up to 20% for the latest financial year. This would be the highest amongst all crypto assets and it is five times the size of bitcoins.
Research for the data company, Florent Moulin shared this information on Twitter recently as he stated that bitcoin is up 20% since last year but looking at the XRP token, it is actually down by 47%. This could be put down to some correlation between the price and circulating supply inflation rates.
The research further went on to compare how much of the max supply is currently in circulation and stated that ripple has only 30% of the maximum supply released. Looking to bitcoin, its supply has already released 87.5%
Kyle Samani, an employee at Multicoin Capital looked into this research and the correlation and mentioned that the increasing sale of the XRP token is the key facilitator for the price being driven down.
He further said:
“The company has been steadily increasing their sales of XRP over the previous three quarters, likely inflicting downward price pressure on XRP.”
Speaking along these lines, executives at the San Francisco-based Blockchain company have said that the continual selling off of the XRP talking doesn’t have a knock-on effect to the underlying market as a whole. In fact, the CEO of the company, Brad Garlinghouse has said in the past:
“In the XRP community, Ripple is the largest owner, and we are the most interested party in the success of the XRP ecosystem […] Ripple can’t control the price of XRP anymore than a whale controls the price of Bitcoin.”