XRP market cap is overstated by 6 billion. What is the explanation?
Source:
According to the report of a startup Messari, which specializiruetsya on cryptocurrency valid data capitalization and current supply is much below the data. On Coinmarketcap number XPR in turnover of approximately 41 billion tokens. However, Messari counted that out of this figure approximately 19,2 billion XRP «may be illiquid or subject to significant restrictions on the sale». A minimum of 6.7 billion XRP are available for ripple co-founder jed McCaleb.
Also in the reverse supply included approximately 5.9 billion XRP which was promised the co-founder of Ripple non-profit organization RippleWorks. How many tokens have already been delivered to the organisation, were not disclosed. Another 2.5 billion XRP have a constraint on the daily sale. They belong RippleWorks.
Experts Messari say that without an official report Ripple, it is impossible to accurately calculate the amount of illiquid tokens are included in the overall turnover. There is every reason to suspect that the market capitalization of the coin is overstated by approximately $ 6 billion.
After the publication of the report in CoinDesk immediately asked the representative of the Ripple. According to his statement, the report contained inaccurate assumptions regarding blocked funds. In addition, the document is based on an incorrect calculation of capitalization.
As decentralized digital assets like XRP differ from traditional assets, they «market cap» is quite simple to calculate: current price X total asset = market cap. With this formula, the XRP market capitalization is approximately $ 31 billion. We believe that no other calculation of the market capitalization of XRP does not guarantee true data.
Representatives of the Messari also said that he had tried to request information from Ripple and RippleWorks immediately prior to the publication of the report, but they failed to get an answer. This raises doubts about how restrictions on the sale of tokens is implemented. This should take into account that more than 99 percent of trades with XRP conducted on foreign exchanges, some of which are including suspect in wash trading. More data to search for .
Recall that the current rate of coins can be found in our classroom .
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