Ripple Gets Relisted On Bitmart; Sees Surge in Trading Volume on the Exchange
Login

Ripple Gets Relisted On Bitmart; Sees Surge in Trading Volume on the Exchange

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Trading volume for Ripple (XRP) on Bitmart, one of the largest cryptocurrency exchanges globally, has surpassed $600,000 just hours after it was reinstated.

Recent reports show that Bitmart reinstated XRP trading after delisting it in the summer of 2021 due to a legal dispute between Ripple and the US Securities and Exchange Commission (SEC).

However, despite XRP’s second appearance on the “old” exchange, trading has not yet resumed without limitations because US customers are unable to trade on Bitmart. the sixth-largest cryptocurrency by capitalization.

Such trade volumes on the sixth-largest cryptocurrency exchange immediately place the exchange in the top 20 of all centralized cryptocurrency platforms for XRP trading. There is only one trading pair, though, and it is against the USDT.

The majority of trading on centralized exchanges occurs off-chain in the form of order book recordings; hence, XRPL’s performance has not been much impacted by its listing on a large exchange or the increasing liquidity of XRP.

At the same time, the crucial 4.5 million account threshold has been passed by Ripple accounts on XRPL. What’s more, just 1,012 of them are empty, with the remaining ones containing varying amounts of XRP.

Nevertheless, data shows that activity on the XRP Ledger is only moderate, with the number of daily transactions remaining constant at 1.2 million but the number of newly activated accounts declining since mid-November.

Ripple vs. SEC Lawsuit to End in H1 2023

A number of significant cryptocurrency exchanges, including Coinbase, began to delist XRP in late December 2020. This was mostly because Ripple Labs, the company associated with XRP, had announced that the SEC would sue it for allegedly selling unregistered securities.

That said, Ripple will likely suffer more delistings if it happens to lose the lawsuit against the SEC. Reports show that the case is set to reach its highly anticipated resolution in the next few months.

 

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News