The Future Coin

Bitcoin

$32,101.35

BTC -0.29%

Ethereum

$1,237.48

ETH 1.35%

XRP

$0.27

XRP -0.55%

Litecoin

$139.12

LTC -0.81%

EOS

$2.71

EOS 2.93%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Ripple News

Ripple ODL: Bitso processes highest value of remittances in April

by The Future Coin
May 7, 2020
in Ripple News
0
Ripple ODL: Bitso processes highest value of remittances in April
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

XRP has been the third-largest coin for quite some time now, however, it might be the only major coins whose developments in the space are not reflected in its price. Ripple’s on-demand liquidity [ODL] platform has been contributing highly to the use case of XRP, especially in the USD-MXN corridor.

Bitso has been one of the early exchange partners of Ripple in Mexico and has been noting great use of the remittance platform. According to the co-founder and President of Bitso, Daniel Vogel, the exchange reported the highest ODL value of 4.3 billion pesos being processed just in the month of April.

Source: Bitso

The platform had been processing ODL transactions since April 2019 and had noticed an immediate demand from the users. However, it took a while for the platform to reflect growth when plotted in a chart.  The transactions started to rise by August 2019 and were striding up since. In December 2019, the exchange’s ODL transaction value breached a billion pesos and by February 2020, the total value was close to 2.5 billion pesos but had slowed down in March.

The violent crash of March had an impact on the XRP price, as it fell as low as $0.1105. A panic-stricken market was shying away from not only crypto but the extended economic market until a recovery effort set in. The price of XRP marched up and was trading at $0.2148, at press time. April also saw users coming back to the platforms as the value of remittance transactions doubled to 4.373 billion pesos.

The USD-MXN corridor has been the oldest and most active remittance passage of all time. The volume noted on the corridor has been higher than in other corridors. According to Utility Scan, in the last 24-hour, USD-MXN corridor has reported volume of $7.295

Source: Utility Scan

Whereas, AUD-USD noted a volume of $3.004 million followed by USD-PHP with a volume of $1.839 million. Ripple has introduced new corridors between the United States and Soth Korea but hasn’t reached an active status.



Source link

EDITOR’S CHOICE

Canada’s tech sector badly needs more capital. Tech itself has a solution: the blockchain

Simply Slabs: 25-year nurse turns furniture making hobby into business – WISH-TV | Indianapolis News | Indiana Weather

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA)

Chainlink now bigger than Litecoin as LINK price hits new high above $24 — What’s next?

Michael Arrington Questions SEC’s Case Against Ripple and XRP, Says Howey Test Outdated and Ridiculous

Regulators Ponder Strategy As Bitcoin & Co Are Too Large to Ignore

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 31,998.00
ethereum
Ethereum (ETH) $ 1,234.96
tether
Tether (USDT) $ 0.997768
polkadot
Polkadot (DOT) $ 17.63
ripple
XRP (XRP) $ 0.271006
cardano
Cardano (ADA) $ 0.346092
chainlink
Chainlink (LINK) $ 24.18
litecoin
Litecoin (LTC) $ 139.02
bitcoin-cash
Bitcoin Cash (BCH) $ 429.17
binancecoin
Binance Coin (BNB) $ 40.22
stellar
Stellar (XLM) $ 0.269124
usd-coin
USD Coin (USDC) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 32,026.00
bitcoin-cash-sv
Bitcoin SV (BSV) $ 173.42
eos
EOS (EOS) $ 2.64
monero
Monero (XMR) $ 137.60
tezos
Tezos (XTZ) $ 3.22
aave
Aave (AAVE) $ 201.17
tron
TRON (TRX) $ 0.028754
havven
Synthetix Network Token (SNX) $ 14.44
cosmos
Cosmos (ATOM) $ 8.28
vechain
VeChain (VET) $ 0.030250
theta-token
Theta Network (THETA) $ 1.93
uniswap
Uniswap (UNI) $ 8.97
nem
NEM (XEM) $ 0.213859
celsius-degree-token
Celsius Network (CEL) $ 4.83
neo
NEO (NEO) $ 24.93
okb
OKB (OKB) $ 5.98
crypto-com-chain
Crypto.com Coin (CRO) $ 0.071094
dai
Dai (DAI) $ 0.999620
compound-ether
cETH (CETH) $ 24.70
leo-token
LEO Token (LEO) $ 1.33
iota
IOTA (MIOTA) $ 0.462286
maker
Maker (MKR) $ 1,394.04
binance-usd
Binance USD (BUSD) $ 1.00
huobi-token
Huobi Token (HT) $ 5.64
dogecoin
Dogecoin (DOGE) $ 0.008573
dash
Dash (DASH) $ 105.51
filecoin
Filecoin (FIL) $ 22.81
cdai
cDAI (CDAI) $ 0.020995
compound-usd-coin
cUSDC (CUSDC) $ 0.021480
avalanche-2
Avalanche (AVAX) $ 12.86
kusama
Kusama (KSM) $ 105.57
zcash
Zcash (ZEC) $ 86.11
solana
Solana (SOL) $ 3.52
yearn-finance
yearn.finance (YFI) $ 30,420.00
sushi
Sushi (SUSHI) $ 7.05
ftx-token
FTX Token (FTT) $ 9.65
ethereum-classic
Ethereum Classic (ETC) $ 7.40
compound-governance-token
Compound (COMP) $ 205.43