Ripple: A Standout For Several Reasons
By Gabor Gurbacs, Director, Digital Assets Strategy, VanEck
In the past year, Ripple has appreciated over 29,700%, Ether has risen 9,100%, and Bitcoin approximately 1,600%. Its meteoric rise in price aside, Ripple also has a very different use case. Used for super-fast cross-border payments (as a transactional cryptocurrency), Ripple’s vision is about enabling an environment in which money moves like information.
Unlike Bitcoin, Ether, and their peers, Ripples are not mined. 100 billion XRP (Ripples) have been issued, 55 billion of which are escrowed, while the current circulating supply is slightly north of 38 billion. But each transaction destroys a small amount of XRP, adding a deflationary measure into the system.
Performance MVIS CryptoCompare
Ripple, Bitcoin, Ethereum, Digital Assets 10 Indices
Source: MVIS. Data as of December 31, 2017.
As the individual success stories beyond Bitcoin increase, for example Ripple, and diversification in the digital asset space grows, monitoring not just one but a basket of digital assets becomes all the more important.
About the Author:
Gabor Gurbacs is the Director of Digital Asset Strategy, and former member of the ETF product management team, at VanEck. Mr. Gurbacs has extensive digital asset trading and market structure experience on global digital asset trading platforms and he is well known in the digital asset community. Prior to joining VanEck, Mr. Gurbacs was a George Soros Scholar, Edgar Bronfman Fellow, serial entrepreneur, and holder of several new economy finance research positions at the Massachusetts Institute of Technology (MIT), Harvard, and Williams College. Mr. Gurbacs earned a BA from Williams College, triple majoring in Mathematics, German, and Sociology.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.