Ripple nearly doubled the sales of XRP in the first quarter on the back of higher engagement during the period, the firm announced in a statement.
- The average daily volume of XRP grew to $2.26 billion in the first quarter of the year from $1.61 billion in the fourth quarter of 2020.
- Total XRP sales of Ripple net of purchases rose 97.11% to $150.34 million in the first quarter from $76.27 million in the previous quarter.
- The growth was attributed to deeper engagement from key open distance learning customers, as Ripple has not sold programmatically for over a year.
- Ripple accounted for 0.07% of global XRP sales in the quarter, based on data from CryptoCompare. This is higher than the 0.05% the previous quarter.
- 3 billion XRP were released out of escrow in the first quarter, 1 billion each month, in accordance with the previous quarters.
- Some 2.7 billion XRP were also returned and put into new escrow contracts during the same quarter.
- Whale investors or those with holdings of at least 10 million XRP increased to 319 from 308, while those holding between 1 million and 10 million XRP increased to 1,196 from 1,125.
