xbtec.io Ripple CEO Explains Reason for Excluding XRP from New Crypto Business PayPal:
Ripple CEO Brad Garlinghouse offers his take on why PayPal isn't adding XRP to the list of coins it will allow buyers to buy, sell, and store. PayPal announced this week that millions of its US users will be able to purchase cryptoassets “in the coming weeks” with an initial plan to support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
The Ripple CEO said in an interview with Bloomberg that he believes PayPal probably made this decision because the giant's payments are secure with those assets from a regulatory standpoint.
PayPal, I think, said that they plan to work with bitcoin and ether, and this is partly due to the clarity of the regulation. If you are a company looking to invest in or develop technology like XRP or other digital assets, if there is no regulatory clarity, then you will probably go for the ones that are clear.
And this is what you, I think, have seen, not only with PayPal, but also with other market participants who say, "I am going to start with Bitcoin and Ether because they have United States approval." In other countries, frankly in Japan, you see a much broader base where there is a level playing field, and you see multiple players succeeding in this market.
bitcoin - PayPal
In addition, the head of Ripple considers it a mistake that PayPal does not allow users to move their crypto assets to other wallets.
Uniswap Trading Volumes Drop Along With DeFi Activity
Trading volumes for decentralized cryptocurrency exchanges (DEXs) have dropped 41% in the past 30 days, according to data from the Dune Analytics platform:
- I believe DEX volumes are highly correlated with the overall DeFi market,” Johnson Xu, director of research at Huobi DeFi Labs, told Decrypt.
The popularity of the DEX skyrocketed
in the summer amid increased traders' interest in Decentralized Finance (DeFi). Protocols from this space continue to hold billions of dollars in their pools, but growth has slowed over time.
The observed dynamics, according to him, can be explained by various reasons, but "one of the main ones is that people do not receive those crazy incomes as before, simply because they cannot persist for a long time and are often associated with significant risks. At the same time, the total volume of assets in DeFi remains quite stable. Thus, Uniswap's liquidity has grown from $ 1 billion in mid-September to the current $ 3 billion. This phenomenon can be partially explained by the rise in cryptocurrency prices. However, the volume of Ethereum, Bitcoin and DAI on the exchange is also growing. At the end of August, Uniswap had 800,000 ETH ($ 381 million at the exchange rate at that time), and now it is 3.2 million ($ 1.3 billion). The amount of funds in contracts for all DeFi protocols also increased and reached $ 12.3 billion. Participants in the DeFi space are still generating decent returns over traditional Tumbler. Many projects from the field of profitable farming now bring 15-30% per annum. Some market participants continue to hold money in these relatively low-risk activities.