Ripple said in a market report for the fourth quarter of 2020 released on the 5th (local time) and strongly criticized that “the US’s innovation and development are being suppressed by the unclear attitude of the US regulators.”
#“XRP is marginalized at rally”
The report claimed that despite the overall rise of the cryptocurrency market in the fourth quarter, the XRP market suffered at least $15 billion in damage from SEC lawsuits.
Ripple submitted its first legal opinion to the SEC, and then requested the SEC to disclose information about Ethereum, which determined that Ethereum was not a security (Freedom of Information Act: FOIA). Accused of being.
XRP history and volume trend (Data = Ripple 4Q Market Report)
The report added that it is a tragedy that individual investors and markets affected by the SEC lawsuit are subject to the SEC’s protection.
# Stop trading, exclude investment
Since the SEC lawsuit, 33 places have imposed restrictions on XRP transactions. There are 15 exchanges that have temporarily suspended trading. Three exchanges, Swipe, Binance US, and OKCoin, have delisted. Grayscale and Bitwise excluded XRP from fund investment. The remaining 12 exchanges restrict American investment only.
# Decrease in trading volume more than $200 million per day
The SEC lawsuit was announced on December 22nd. Therefore, if you add up the 4Q trading volume of major exchanges that announced the suspension of trading, you can see the decrease in XRP trading since January. The report estimates that it will be shocked by trading volumes of more than $200 million per day from trading volumes on eight major exchanges around the world that have announced trading restrictions.
If you look at the daily trading volume by exchange,
Coinbase $13.49 million / OKCoin $210,000 / Blockchain.com $130,000 / Binance US $7.64 million / Bitstamp $3.37 million / CEX.IO $67 million / Itoro $150,000 / Kraken $23.5 million Dollars, etc.
This means that 12% of the total transaction volume of XRP was affected by transaction restrictions.