By Tobi Loba
According to a new report released by Flipside Crypto, a blockchain intelligence firm, the trading activity for the third-largest digital currency by market cap, XRP often experiences a notable drop on the weekends, which raises questions than answers.
Details of the Report
The report is titled “4 Things To Know About XRP Money Flows”. The blockchain intelligence firm analyzed the flows of XRP and noted that activity for the digital token usually experiences notable drops on the weekends.
The report then suggested that there might be little consumer or retail interest in the digital asset within this time interval.
The report reads:
“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.”
About Flipside Crypto
Flipside Crypto makes business intelligence available for blockchain companies by chain-walking a blockchain to extract stakeholder behavior data.
The data often provided by Flipside Crypto helps blockchain projects understand themselves better, so as to come out with growth and development strategy.
The CEO of Flipside Crypto, Dave Balter, weighed XRP with the emerging competitors in the industry during an interview with Cointelegraph.
He said:
“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.”