Over half a million dollars in XRP traded hours after relisting on Bitmart
Trading activity for XRP on Bitmart, a significant cryptocurrency exchange, reached beyond $600,000 just hours after it was reinstated. After Bitmart delisted XRP in the summer of 2021 due to a legal dispute between the SEC and Ripple, XRP was re-allowed to trade on the exchange.
However, despite XRP’s second appearance on the new “old” exchange, trading has not yet resumed without limitations because U.S. consumers cannot trade the sixth-largest cryptocurrency by capitalization. Such trade volumes on Bitmart immediately place the exchange in the top 20 centralized cryptocurrency platforms for XRP trading. However, there is only one trading pair, and it is against USDT.
The listing has not significantly impacted the performance of XRPL on a significant exchange or the increasing liquidity of XRP because most trading on centralized exchanges occurs off-chain in the form of order book recordings. At the same time, the crucial 4.5 million account threshold has been passed by XRP accounts on XRPL.
Moreover, just 1,012 of them are empty, with the remaining ones containing XRP. Nevertheless, data shows that activity on the XRP Ledger is only moderate, with the number of daily transactions remaining constant at 1.2 million. Still, the number of newly activated accounts declining since mid-November.
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