XRP Experiences Unexpected Growth in a bear market
Yesterday, XRP was one of the most used smart contracts among the top 90 BNB holders, according to statistics published by WhaleStats.
Apparently, the XRP turnover within this group of investors increased by 241.5% at one point. In doing so, the asset obtained 2% of the total, with BNB, BUSD, and other BNB Chain-wrapped tokens accounting for a big proportion of the total.
Curiously, the pattern persisted today, with XRP staying sixth among BNB’s most-used smart contracts. Its utilization dropped 83% over the day, yet it still accounts for 0.64 % of the total. Later, the same WhaleStats stated that XRP is among the top 10 tokens acquired by the 2,000 greatest BNB whales today.
The total quantity of XRP on Binance Smart Chain is 277 million tokens, which corresponds to a market value of $99.45 million after token dilution. According to BscScan, the number of Binance-Peg XRP holders is 254,895 addresses.
A second meeting between XRP and BNB took place on the fringes of social media. Wietse Wind, a primary developer of XRP Ledger and inventor of Xumm Wallet, argued that XRP is a stablecoin since 1 XRP is exactly equivalent to itself.
The developer’s contentious theory was a nod to the famous post by Changpeng Zhao, the CEO of Binance, who originally said that 1 BTC = 1 BTC and subsequently reiterated the same statement regarding BNB.