Ripple Publishes Q2 Report: Sales Increased By 48%
The Ripple report for the second quarter, published on Wednesday, brought several surprises: profits, losses and a new partner. Total XRP sales increased by almost 48% to $251 mln in the quarter.
Direct institutional sales increased by almost 73% up to $107.9 mln; programmatic sales still accounted for most of the sales: $144.6 mln in the second quarter compared with $107 mln in the first one. Despite the increase, Ripple says it plans to adopt a more conservative approach to XRP sales in the third quarter.
According to the report, Ripple's global trade volumes for the quarter decreased by 28%, from $595 to $429.5 mln, although this is a result of improved accounting, and not a failed business strategy. In June, Ripple changed the assessment of trading volumes, working with data and indices of the CryptoCompare company, in order to weed out overstated statistics. Ripple previously worked with publicly available data from CoinMarketCap.
Image courtesy of Oracle Times
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