It Costs $20,000 To Become a XRP Whale Because cryptocurrencies like Bitcoin and XRP are new, emerging technologies that are also financial assets, analysts look at a number of different data points to attempt to determine a fair market value.
One such metric that’s often looked at, is the distribution of each asset across wallets, including the percentage breakdown of how many wallets are holding different levels of assets.
One crypto analyst has shared a chart that reveals the average assets held across the top 10% of XRP holders.
The data shows that to become a “one-percenter” in XRP a term coined to show high wealth inequality against the other 99% of the population one only needs to hold roughly $20,000 in Ripple at today’s prices of 26 cents per XRP token.
The table shows that the top 1% of Ripple accounts hold roughly 69,000 XRP on average.
To become a one-percenter in Bitcoin, one would need to hold an account containing 10 BTC or more or the equivalent of more than $100,000.
To be in the top 0.1% of account holders, one would need to hold over 188,000 XRP, and to earn the highest spot at 0.01% of account holders, it would be over a cool $4.25 million USD for under 16.5M tokens.
Holders Divided Due to Ripple Escrow Selling During Downtrend The distribution of XRP has been a controversial issue as of late.
Much of the XRP supply is held in escrow by Ripple Labs, the company tasked with pushing adoption of the crypto asset.
The assets held in escrow are unlocked, then sold on the market to fund important Ripple operations.
Read the full topic at
https://www.newsbtc.com/2019/09/16/ripple-whale-it-only-takes-20000-to-become-a-xrp-one-percenter/
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Topic: Ripple Whale: It Only Takes $20,000 To Become a XRP One-Percenter (Read 6789 times)