Dash Buyers Show the Greatest Conviction While the Popularity of XRP Grow

[Zed0X]

Dash Buyers Show the Greatest Conviction While the Popularity of XRP Grow – Uphold Report



The past month witnessed the worst sell-off ever experienced in digital currencies for three years. The prices also plunged significantly leading to chaos in the markets as the crypto winter set in. Most of the tokens had dwindled with XRP leading the losing pack. However, the reaction of Uphold members to the bear market that got worse since mid-November is quite surprising.

Rafael Veloso, Uphold’s Chief Data Officer, explains some of the trading highlights. A new report shows that the platform’s users are quite dedicated showing much higher buy to sell value ratios compared to other cryptos. Despite the grim markets, the ‘Buy’ orders outweighed the ‘Sells’ by around 26%. Most of the Uphold customers used the drastic fall in prices to increase their positions extensively.

Uphold is a company providing instant and secure financial services including cryptocurrencies for over 200 countries worldwide.

The Margins (% USD value; Nov 11 – Dec 10, 2018)

Although Bitcoin was the most purchased token, it surpassed XRP by a small margin. On the other hand, Bitcoin was also the most sold off asset accounting for almost 73% of all dumping during the month. The BTC ‘Sells’ exceeded the ‘Buys’ by over 35%. Regarding the net inflows, the most significant token was XRP.



Although XRP’s market cap is around 20% that of Bitcoin, it was ranked as the second most heavily bought asset on Uphold. During that four-week period, XRP came within 98% of the USD value of all Bitcoin bought.

XRP holdings grow steadily

The data show steady growth in XRP holdings continued constantly and a majority of the tokens’ holders stayed calm in the bear storm. Steady growth is seen every month since March, 2018.



Dash Users Accumulate

The mean buy amount for Dash was at least $600. On the other hand, the average sell ranged below $200. Across the platform, the average sell and buy amounts for cryptos were similar except for XRP. Thus, Dash users are taking advantage of the bear markets to accumulate coins. They only dump small amounts whenever necessary. Of significant note is how Dash is unique when compared to other supported cryptos in this regard.



In Brief

Also, there is a large contrast with XRP and Bitcoin with a clear divergence from Ethereum. The past month shows that the interest in XRP is rising continuously. Earlier in the year, the token accounted for below 10% of the platform buys every month.

However, the past month recorded that XRP accounted for about 43% of all purchases. Most buyers believe that XRP is enjoying institutional adoption due to its well-developed use case model. Many big banks are adopting the xRapid payment technology with XRP offering a liquidity bridge.


https://www.cryptovibes.com/analysis/dash-buyers-show-the-greatest-conviction-while-the-popularity-of-xrp-grow-uphold-report/

[gurunanakji777]

Yes XRP shows good strength in the past month and ethereum is also getting momentum and we all know Dash has the limited supply in the market even we know once dash also surpasses ethereum. But in this bearish trend Dash is also the victim of hard drop but in the article it shows Dash users hold dash instead of panic selling. So its the clear indication that Dash holders believe in Dash potential and I believe they will get good fruit in the long term.

[masudginanjar]

From the XRP Buyers Diagram it is very high and almost the same as Bitcoin Buyers who have a difference of about 1%.
I think DASH is still too far away to compete with Ripple but time continues to spin and I'm sure DASH still has a chance for that.

[TanPhan]

Sure Dash need more good improvement like this to be able to climb higher in the top rank coin, hope that Dash will contiyto keep up these successful

[IyemRoker]

Still, buyers of DASH and XRP are not able to fight the glory of Bitcoin.
Very far between the buyers of Bitcoin compared to DASH and XRP. 

[Hadley]

Ripple buyer seem a little weak now, Dash has showed that it can increase more if the market recovery when Bitcoin reached $4,000 yesterday

[Bolasodok86]

both coins are very good indeed and very potential for all, and I strongly believe that the two coins will be able to soar and good popularity.