The cryptocurrency data firm Messari has reported that Ripple’s XRP market cap and circulating supply, as advertised on third-party data services, may be inflated with as much as 47%. The company’s CEO said he’s received threats shortly after the report.
Ripple’s XRP Inflated Market Cap
Cryptocurrency data company Messari released a report suggesting that the market cap of Ripple’s XRP is inflated by 47% conservatively.
According to the report, the circulating supply of XRP is 21.8 billion – a major difference from the data provided by certain data services such as CoinMarketCap, for example. The latter displays that the circulating supply of XRP is currently 41 billion.
XRP’s market cap, at the same time, is indicated to be around $13 billion on CMC. However, according to Messari, the actual number is $6.9 billion.
Supposedly, the difference in the numbers comes from massive amounts of XRP which are currently either illiquid or are being subjected to significant selling restrictions.
The report quotes the accounts of Ripple’s co-founder Jed McCaleb, RippleWorks, and a yet-to-be-realized donation from Chris Larsen to RippleWorks.
Combined, [these holdings] means 19.2 billion of the 41.0 billion XRP currently quoted as “in circulation” may be illiquid or subject to significant selling restrictions. – Reads the research paper.
Messari’s CEO “On Fire”
Shortly after the report was published and mainstream media picked it up, the CEO of Messari – Ryan Selkis, tweeted that he has received threats from the XRP community. Someone had purportedly called him from an unknown number in Nashville, reciting his wife’s birthday to him and hanging up.
Selkis has called Brad Garlinghouse – the CEO of Ripple, to publicly denounce any XRP community threats against his family.
What do you think of the current situation with Messari’s CEO and the XRP report? Let us know down below!