Whales in the cryptocurrency industry have caused debates over the past years. The concern has been about such holders having the ability to control the value of various cryptos. The effect of the big holder has also been experienced in Ripple, and this factor has made it into law circles.
Specifically, it was discovered that the first ten holders of Ripple control approximately 73% of all crypto in circulation. Additionally, the first twenty holders make up 75.35% of the crypto. This data was supplied by CoinCarp.
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It is important to note that Ripple is developed as an anti-inflationary crypto which has a limited supply. Yet, most of this crypto seems to be possessed by retail investors on Binance. Also, Binance regulates thirty-eight-point five percent of Ripple, and the left-over percentages are scattered on other platforms.
Additionally, the richest Ripple address on Binance contains 99,879,936 XRP coins. This is equal to approximately $34.95 million going by data given by CoinMarketCap. Also, because of the anonymous nature of crypto, it’s almost impossible to know the specific address that is the richest in XRP
Meanwhile, the figure of Ripple holders has increased in the past few years to two hundred and twenty-eight thousand, five hundred and seventy-seven. This number has increased despite the case that was filed by SEC (Security Exchange Commission) against Rippleās Parent Company.
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