Ripple’s XRP holdings have dropped below 50% in the second quarter of 2022 for the first time in Ripple’s history. The exchange has been quick to present this finding to refute the widespread allegation that it has been trying to centralize the concentration of XRP coins.
San Francisco-based fintech firm Ripple’s XRP holdings have dropped below 50% in the second quarter of 2022. It is for the first time in Ripple’s history that it doesn’t own even half of the XRP coins in circulation.
Its total XRP sales during Q3 were worth $310.68 million, in comparison to sales worth $408.90 million during Q2. Ripple has continued to face criticism from the proponents of decentralized finance that it hoards tokens, besides taking maximum control of the validation process.