BITBOX delists Ripple (XRP)
Singapore-based exchange cites failure to meet standards
BITBOX to Delist Ripple (XRP)
Communication software giant LINE's Singapore-based cryptocurrency exchange BITBOX announced that it will delist Ripple (XRP) starting from January 16.
In a statement on its website on January 6, BITBOX said that if a coin or token fails to achieve performance, security and liquidity standards, it will be delisted from the exchange. Due to XRP's trading pairs with Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) not meeting BITBOX's standards, it has been decided to delist XRP.
After the delisting, BITBOX users must withdraw their tokens by midnight on February 16. BITBOX has not disclosed the reason for the delisting. Ripple is the third-largest cryptocurrency with a market value of $9.4 billion. BITBOX's XRP trading volume accounts for only 0.02% of the total trading.
Selling XRP is promoting its usage, not selling securities
XRP is a digital currency that is used as a means of payment on the Ripple payment network. It is important to note that selling XRP is not the same as selling securities. XRP is a utility token, which means that it is primarily used for purchasing goods and services within the Ripple network.
Promoting the usage of XRP helps to increase its liquidity and adoption, making transactions more efficient and cost-effective. This, in turn, helps to further develop the Ripple ecosystem and promote its growth. Therefore, we should focus on the value that XRP provides as a digital currency and its potential to revolutionize the global financial system.
In conclusion, selling XRP is promoting its usage as a digital currency and should not be considered as selling securities. As more and more industries adopt blockchain technology, XRP stands to play a crucial role in facilitating cross-border payments and revolutionizing the traditional financial system.