Comprehensive Analysis of XRP Treasury Companies: A Growing Trend
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The Rise of XRP Treasury Companies: A Competitive Edge
Ripple is gaining traction in the cryptocurrency space, closely following Ethereum, as more companies adopt XRP as a treasury reserve. This momentum is fueled by Evernorth’s ambitious plan to accumulate over $1 billion in XRP, positioning it as a primary reserve asset.
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Unveiling the 11 Pioneering XRP Treasury Companies
In a recent revealing post by crypto analyst BD, it was noted that the number of XRP treasury companies has reached 11. Evernorth is poised to become the most significant public holder of XRP, thanks to its planned $1 billion fundraising. Supported by Ripple’s contributions, Evernorth aims to establish a formidable treasury.
BD further detailed the holdings of other XRP treasury companies. Trident emerges as the second-largest with $500 million in assets, while Webus boasts a $300 million treasury. VivoPower has procured $121 million worth of XRP, with plans to stake some in Flare for yield generation.
Wellgistics follows with a $50 million investment in XRP, and Hyperscale maintains a $10 million reserve. Everything Blockchain has similarly invested $10 million in XRP, with intentions to stake it in Flare for returns. Japanese firm Gumi disclosed plans to allocate $17 million for XRP acquisitions, anticipated to transpire by February next year.
Contributing to Evernorth’s funding initiative, Gumi is also investing $5 million in Evernorth’s PIPE. This solidifies its position as the sixth-largest XRP treasury company based on its planned investments. The remaining companies, Worksport, BC Bud, and Digital Comm, hold $5 million, $250,000, and $225,000 in XRP, respectively.
Comparative Landscape: Ripple vs. Ethereum in Treasury Companies
Despite Ripple’s advancements, the count of XRP treasury companies remains modest compared to Ethereum’s. Data from the Strategic ETH Reserve highlights 69 Ethereum treasury companies, significantly outpacing the 11 XRP treasuries. Collectively, these Ethereum companies possess $22.99 billion in ETH, representing nearly 5% of the altcoin’s total market supply.
Conversely, the XRP treasury entities, including Evernorth’s intended acquisitions, collectively hold approximately $2 billion in XRP. Despite this disparity, the growing interest in XRP treasuries signifies a positive trend, potentially leading to a supply shock as more coins are accumulated. The emergence of additional XRP treasury companies could incite a notable surge in XRP’s market value.
Currently, XRP is trading at approximately $2.39, experiencing a slight dip over the past 24 hours, according to CoinMarketCap data.
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