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In the wink of an eye: bye, bye, ODL


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1 hour ago, 2ndtimearound said:

From what I can see here > https://bitso.com/trade/market/xrp/mxn

....trading volume was reduced by 75% or so since June 2020.  An average weekday day volume is about $2M, weekends about half that...so maybe $1M maximum in volume on ODL if we assume all of that extra week day volume is ODL.

Ripple have been very quiet about ODL in the last 6 months or so.  I watched Asheesh Birla's interview today and he was basically saying "things are moving beyond payments" (see video below, I've placed the video at the point he says this).  The interviewer then pushed him on this point, asking "so how important are payments?" - Birla replies with "customers are asking us about lending now" and claiming that Ripple already solved the payments problem.  Maybe they've solved it with XCurrent, but ODL has disappointed.  I don't know if it's just too difficult to find liquidity, or it turns out it's not as profitable as once thought? Maybe they've seen DeFi and are changing horses midstream to try and follow the myriad DeFi services already available...

So... what's the role of XRP in all this?

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Given the fact Bitso is reporting 10m XRP XRP->MXN daily-trading volume (weekday), which of the following do you believe is applicable ? This trade volume is unrelated to ODL Bitso is

Is this good?  Does it involve Xrapid?

Thanks for your feedback to my post. Your figures quoted from Bitso's page is consistent with my figures quoted from CryptoCompare's Bitso trade data - only you quoted daily volume in USD ($2m), while

I'm not entirely sure how utility-scan tracks those payments, but if line-of-credit is being used by the sender, that means that the sending institute has direct access to XRP and thus doesn't need the first exchange (Bitstamp) anymore. Maybe in a later stage it needs to exchange XRP to repay the credit, but this can be done later, in batches, and OTC.

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8 hours ago, panmores said:

Why would Ripple expose ODL metrics to the public. They manage to mask it somehow. No clue how, however. Their clients would not like to see their business exposed to the public. That's it, nothing more to it.

I'm not sure why they release these numbers in their press releases.

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15 hours ago, 2ndtimearound said:

From what I can see here > https://bitso.com/trade/market/xrp/mxn

....trading volume was reduced by 75% or so since June 2020.  An average weekday day volume is about $2M, weekends about half that...so maybe $1M maximum in volume on ODL if we assume all of that extra week day volume is ODL.

 

Thanks for your feedback to my post. Your figures quoted from Bitso's page is consistent with my figures quoted from CryptoCompare's Bitso trade data - only you quoted daily volume in USD ($2m), while I quoted XRP trade volume (10m). There was also a sight difference comparing my chart to Bitso's own volume chart - I finally realized this was due to CC's data is in UTC reference, while Bitso's is in North American timezone referencing. 

I will view your shared video later tonight, thanks for posting that, and for your observations as well.

As this tech sector for crypto continues to get more crowded and complicated, it would make a lot of sense for Ripple to be more guarded with their internal metrics and long term planning. They have no stockholders to keep happy and informed, nor are they immediately pursuing an IPO, but they do have competitors nipping at their heals, and an army of detractors expending energy to impede their efforts to deploy and popularize their products and services.

So we're left to our own devices to divine and detect their progress, and our speculation on the future results...

Edited by JASCoder
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19 hours ago, panmores said:

Why would Ripple expose ODL metrics to the public. They manage to mask it somehow. No clue how, however. Their clients would not like to see their business exposed to the public. That's it, nothing more to it.

They manage to SECret everything XRP  :secret:

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19 hours ago, panmores said:

So... what's the role of XRP in all this?

@2ndtimearound

keep these things in mind.

An XRP LoC, lowers the cost and risk exposure to MMs who wish to make markets with XRP:Fiat

That does not get rid of the need for a fiat>XRP>fiat path. What it does do is enable the MM to hedge their XRP exposure. Loans also enable a MM to manage their leverage & short exposure.

There isn't really any way around ODL, that's the bread and butter for Ripple & XRPL. XRP loans just make using XRP with ODL cheaper and less risky.

SBI also is offering XRP futures, another risk management service. 

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  • 2 weeks later...
On 1/28/2021 at 9:28 AM, xrp_sea said:

I'm not sure ODL volume really matters at all. With ODL, for every buy order there is a matching sell order. It seems the price is really just driven by speculation more than anything.  

Smartest person on the xrp chat I’ve seen to date. It refreshing to read such an honest post.

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