CryptoLaw founder and XRP holder attorney John E. Deaton points to the importance of the XRP community on Twitter. To back up his claim about the importance of the XRP community, Deaton cites Uphold, a multi-asset digital money platform. Uphold holds $1 billion worth of XRP in proof of reserves. Surprisingly, Uphold’s XRP holdings exceed its Bitcoin holdings.
$1 Billion Worth of XRP Held by Uphold in Biggest Asset Holdings
Deaton also provides information that XRP trading volume accounts for 28.33% of total trading volume on the platform. Specifically, Uphold has over 250 cryptocurrencies and stablecoins that users can buy, sell and trade on its platform. So XRP volume is still important. According to UphoId’s transparency page, XRP assets held in its reserves are worth $1,080,899,106 and Bitcoin assets are worth $140,644,629 worth of BTC.
UphoId’s support for XRP dates back to early 2018. After conducting a Twitter poll, XRP emerged as the preferred choice of respondents for the platform’s listing. In March 2018, after Uphold announced support, XRP was added to the list of cryptocurrencies that users can buy or trade on their platform.
On Twitter, UphoId shared a 2021 headline summary of not delisting XRP despite the Ripple lawsuit. The multi-asset trading platform said it strongly supports the XRP community. The SEC sued Ripple in December 2020, claiming $1.3 billion sale of XRP constituted an unregistered securities offering. Some cryptocurrency exchanges have since delisted the XRP token or stopped supporting digital assets. Meanwhile, UphoId continues to support XRP on its platform.
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