Cryptocurrency data company Messari reported that the market cap of Ripple’s XRP, as well as its circulating supply, as they are advertised on third-party data services, are likely inflated with 47 percent. Shortly after that, the company’s CEO said he’s received threats from the XRP community.
Ripple’s XRP Market Cap Inflated
According to new research published by cryptocurrency data company Messary, the market cap, as well as the indicated circulating supply of Ripple’s XRP is inflated by as much as 47%.
The report says that the actual circulating supply of XRP is 21.8 billion instead of the 41 billion which is widely displayed at third-party data service providers such as CoinMarketCap. This outlines a major discrepancy which constitutes a 47% difference.
The same is true for XRP’s market capitalization. According to the report, it is around $6.9 instead of the displayed $13 billion.
The report suggests that these stunning differences are caused by large amounts of XRP being illiquid or under significant restrictions.
Supposedly, the largest XRP holders accounting for these restricted or illiquid XRP are those of co-founder Jed McCaleb, RippleWorks, and a donation from Chris Larsen to RippleWorks which hasn’t been realized yet.
The above means that “19.2 billion of the 41.0 billion XRP currently quoted as “in circulation” may be illiquid or subject to significant selling restrictions.”
Messari’s CEO Threatened by the XRP Community
Not long after the report went live and the majority of mainstream media reported on it, the CEO of the company – Ryan Selkis, revealed that he’s been subjected to threats from the XRP community.
He tweeted that someone had called him from a Nashville number and has recited the birthday of his wife, hanging up immediately after.
I’ve been in crypto for six years.
Taken shit for 0.
I’ve received threatening messages after Mt Gox and Ripple exposes.
And I am a man on fucking fire right now.
— Ryan Selkis (@twobitidiot) January 25, 2019
He also asked Ripple’s CEO, Brad Garlinghouse, to denounce any XRP community threats made against him and his family.
What do you think of Messari’s report and the following threats? Don’t hesitate to let us know in the comments below!
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