Editor's PiCK
Ripple to Unlock 1 Billion XRP Tokens Tomorrow... Worth Approximately $2.9 Trillion KRW
Summary
- Ripple reported that it will unlock 1 billion XRP, which is worth approximately 2.9648 trillion KRW.
- Ripple stated that they are likely to use only a portion of the unlocked amount and re-lock the remainder in an escrow account.
- Ripple added that they are operating a system that locks 55 billion XRP in escrow accounts and unlocks a certain amount monthly.
Ripple is reportedly set to unlock 1 billion XRP tokens on the first day of next month. This amounts to approximately $2.03 billion (about 2.9648 trillion KRW).
On the 28th, U.S. economic media Finbold reported, "Ripple is scheduled to unlock 1 billion XRP that have not yet been circulated in the market on March 1st. There is a possibility that selling pressure may increase." The media added, "Rather than immediately selling the entire unlocked amount, Ripple is likely to utilize only a portion and re-lock the remainder in an escrow account."
The media further explained, "Since XRP was first launched in 2012, Ripple has adopted a method of holding 80 billion XRP from the total supply and gradually supplying it to the market," adding, "Since 2017, they have implemented a system of locking 55 billion uncirculated XRP in escrow accounts and operating a system that unlocks a certain amount monthly."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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