A new report by blockchain intelligence firm Flipside Crypto indicates that trading activity for XRP slows down considerably on the weekends. The question is, why?
In the report called “4 Things To Know About XRP Money Flows”, the company analyzes the flows of XRP through the ecosystem and notes that activity for XRP drops significantly on the weekend. It theorizes that this is likely due to a lack of consumer or retail interest in the asset:
“The bar chart above shows a clear pattern, with significantly lower XRP activity on weekends than during business days. This is not the case for other chains such as OAN or Zilliqa, whose activity on exchanges is instead constant throughout the week. This suggests that the majority of XRP transactions are sent by professional investors or payment processors such as MoneyGram and Intermex.”
XRP exchange volume. Source: Flipside Crypto
Flipside Crypto provides business intelligence for blockchain companies by “chain-walking” a blockchain to extract stakeholder behavior data. This data helps a blockchain project better understand itself, which is essential for developing a growth strategy.
In an interview with Cointelegraph, Flipside Crypto CEO Dave Balter contrasted XRP with up-and-coming competitors:
“There are a number of impressive blockchains just heading into mainnet, such as Near, Flow (Dapper), Celo and Solana. They are launching with a customer-first mindset and real world use cases. For example, Flow has already inked deals with the NBA and Warner Music and Celo’s solutions are tailored to aid the financially underserved. Expect big things from these four in 2020 and beyond.”
Ripple co-founder is not done selling
Data in the report also seems to indicate that Ripple co-founder Jed McCaleb, who left to found Stellar (XLM), is not done selling his stack of XRP. According to the report, McCaleb’s wallet is one of the most active and currently holds 65 million XRP that he may be looking to sell in the next couple of months.
30-day asset flows. Source: Flipside Crypto