Categories: Bitcoin Business

Ripple May Announce Extended XRP Supply Lock-up In June

Click here to view original web page at www.livebitcoinnews.com

A lot of people are keeping a close eye on what will happen to XRP over the coming weeks. The currency set a new all-time high yesterday, but was dumped hard ever since Poloniex started having “issues” again. This is the third time the exchange suddenly goes blank when XRP is gaining in value. However, it looks like there may be some good news for XRP moving forward, as it is possible the team will announce a coin lock-up soon.

Ripple May Be Moving Toward A Coin Lock-up

Although the following information has not been officially confirmed right now, it poses some interesting trains of thought. To be more precise, there is a rumor Ripple is planning to announce a big move in June of 2017 that could send major shockwaves through the community. It is believed the team will announce an extensive coin lock-up agreement.

In doing so, the Ripple team aims to address any lingering concerns people may have regarding the available XRP supply. Right now, that supply is quite large, although it will not continue to increase any further. In fact, the XRP will gradually decrease, as Ripple transactions using the XRP tokens will result in small amounts of tokens getting destroyed. This effectively reduces the available coin supply over time, albeit it will not see any major drops overnight.

The goal is to make the individual value of each XRP higher more precious over time. Right now, XRP is seeing a significant boost in market share and individual token value. Even though a lot of the positive momentum was undone during yesterday’s Poloniex issues, the market remains very bullish right now. This is quite intriguing, considering XRP has seen a lot of trading these past few days.

The official news regarding the future of XRP – assuming an announcement like this will take place to begin with – is expected to made at the upcoming Consensus 20107 conference. Ripple CTO Stefan Thomas will talk about different consensus mechanisms during the event. If the team successfully manages to address the doubts and uncertainties regarding the XRP supply, things can get very interesting from here on out. It is unclear if XRP can continue its bullrun, though, but for now, there is no reason to despair just yet.

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Terrorists are turning to Bitcoin for funding, and they’re learning fast

Representational image of Bitcoin. (File: Bloomberg) By Nathaniel Popper Hamas, the militant Palestinian group, has been designated a terrorist organization… Read More

22 mins ago

Latest Faketoshi says he conveniently ‘lost the hard drive’ containing billions in Bitcoin

Just yesterday we told you how there was a new Faketoshi in town, staking a questionable claim to the Bitcoin… Read More

22 mins ago

Study Suggests Scarcity Could Drive Bitcoin Prices to $60,000 by May 2020

Share Tweet Send Share Bitcoin price predictions have been coming thick and fast in recent months as the world’s top… Read More

22 mins ago

“Bitcoin will never hit 50k” says crypto skeptic Peter Schiff

For a man that wants nothing to do with Bitcoin , economist and Euro Pacific Capital CEO Peter Schiff never… Read More

22 mins ago

Casa Releases Node Monitor Service to Improve Bitcoin Network Health

Casa, a crypto firm that provides a private key management service and Bitcoin node machine, has unveiled a node monitor… Read More

23 mins ago

ETC/ETH Technical Analysis: Ethereum Classic breaks higher

Ethereum Classic vs Ethereum: Classic is making a comeback today An important price level has been broken 0.037673 looks to… Read More

23 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More