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Ripple Insights: Q4 2019 Market report

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When they say:

Quote

In addition, Ripple made an investment in Bitso, the largest exchange in Mexico, to support RippleNet’s US-MXN corridor by providing critical liquidity for payments. Last year, Ripple launched ODL capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. MoneyGram has publicly reported that they have moved more than 10% of its transaction volume between the United States and Mexico through ODL.

does it mean that MoneyGram moved 10% of it's transaction via XRP or a generic ODL (which includes in part also XRP)? Not really clear.

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Interesting. If I'm correct Bitcoin mines about 1800 Bitcoin each day, which I assume is at least partially sold to the market to cover operation costs.

That's about 1800 * 8600 = 15,480,000 usd of NEW Bitcoin each day

So about 54,000 new bitcoin (552 million usd) each month. Ok, not all if them are immediatly sold but they can if they want to.

Compare that with XRP's 13m usd strategic sales in a quarter

Ok.. we still got Jed too, selling 771k xrp (185k usd) each day, about 5,6m each month. And perhaps some other big investors

... can we go up now ?

 

Edited by mike91

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9 minutes ago, King34Maine said:

What do you mean by miners?

The young kids that go deep underground to chip away at earths resources to find little nuggets of bitcoin.  

Hope that helps.  :JC_doubleup:

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2 hours ago, tulo said:

does it mean that MoneyGram moved 10% of it's transaction via XRP

Yes 10% (it’s probably creeping upwards) of their US - Mexican corridor.  

There is no indication at all that anything other than XRP are used.  Repeated statements even in recent times from Ripple indicate ODL only uses XRP.  

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40 minutes ago, Tinyaccount said:

Yes 10% (it’s probably creeping upwards) of their US - Mexican corridor.  

There is no indication at all that anything other than XRP are used.  Repeated statements even in recent times from Ripple indicate ODL only uses XRP.  

On liquidity-index XRP/MXN tracker we have hit another record high today.  It seems to get knocked back when XRP price tanks. 

Screenshot_2020-01-22 liquidity-index XRP MXN.png

Edited by Julian_Williams

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11 minutes ago, WrathofKahneman said:

A big take away here is a new EUR-USD corridor.  This is the exact opposite of the smaller, high friction corridors they've gone after for remittance and suggests to me there are big companies pushing for use behind the scenes for other uses.  What companies want to use XRP ODL in this corridor?  In what ways?  Trade finance comes to mind.  

Do you have any knowledge what is the typical FX overhead costs for such movements of capital ?

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10 minutes ago, WrathofKahneman said:

A big take away here is a new EUR-USD corridor.  This is the exact opposite of the smaller, high friction corridors they've gone after for remittance and suggests to me there are big companies pushing for use behind the scenes for other uses.  What companies want to use XRP ODL in this corridor?  In what ways?  Trade finance comes to mind.  

  

 

That is music to the ears. I'm hearing high-value/high-volume when I read your paragraph. It's the chicken and the egg: in order for high-value payments to be able to use XRP there must be high-volume. Let's hope this is the beginning of the solution to that dilemma. 

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5 minutes ago, WrathofKahneman said:

@JASCoder I do not.  You would think the volume must be huge to make it cost effective in such a high volume, liquid corridor though.

This innovation has so much potential, boggles my mind sometimes.

One key difference with EUR/USD corridors over say USD/MXN's, is transfers can be more bi-directional, which reduces one of the key pain points uni-directional capital movements must solve. The more handled by the arbitrage bots the lower the friction.

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