Ripple Is Coming to Luno Customers
The news comes after Luno engaged in a year-long poll in which all its customers were asked which new asset they would be the most interested in trading or purchasing in the future aside from bitcoin (BTC) and Ethereum (ETH), as the exchange already offers these assets to its users. Ripple earned the number one spot, which has prompted the trading platform to take immediate action and set aside a special place for the world’s third largest cryptocurrency by market cap.
Ripple is unusual in that despite a relatively shady history, it still boasts a long list of followers and supporters. For example, many consider Ripple to be far more centralized than it claims to be, considering executives still hold most of the available Ripple units within personal wallets. It is estimated that more than 50 percent of today’s XRP units are held by Ripple execs.
In addition, the company is facing a huge class-action lawsuit from traders who feel that the enterprise lied or provided false information regarding its status as a “non-security.” One of the leading plaintiffs in the case has even referred to Ripple as an “ongoing ICO (initial coin offering).”
Despite all this, Ripple sure knows how to tantalize the eagerness and interest of crypto traders everywhere. Within the next two weeks, Luno clients can expect to have access to the currency and respective Ripple trades.
The survey regarding Luno’s customers show some intriguing results. The currency XRP edged out interest in bitcoin cash (BCH) – bitcoin’s little brother – by approximately two votes, yet the exchange added bitcoin cash to its list of tradeable assets in September of last year.
Many clients also showed interest in assets like Litecoin and Stellar, both of which are smaller than BCH but stood above it in terms of customer intrigue. Many of the surveyed clients showed general interest in smaller altcoins.
Some have also shown concern regarding Ripple in that the currency has struggled heavily over the past year. Many sources and traders believe Ripple is responsible for dumping tokens by the thousands, thereby driving the currency’s price into the ground.
Some Questionable Tactics
Last October, the company revealed that it had sold approximately $66 million in XRP units, while more than $250 million were sold during the previous quarter. This has also caused traders to raise an eyebrow or two.
Luno is widely considered one of the most popular and prominent crypto exchanges within the U.K. It has earned an “A” grade on sites like Crypto Compare, while Ripple has been available and active in the crypto market since the year 2012.