Cryptocurrency and blockchain data statistics firm Kaiko released its report on its Q2 crypto liquidity ranking. There have been some changes to the listings, which have seen improvements to Ripple’s XRP asset.
On July 12, Kaiko updated its crypto-asset liquidity rankings, saying, “The recent SEC lawsuits have directly impacted the liquidity of assets identified as securities.”
Movements and liquidity of the Ripple cryptocurrency
The analytics firm noted that the US regulatory crackdown has altered listings, with some assets losing volume and liquidity.
Kaiko’s rating system compares the liquidity ranking of each asset to the market capitalization. They also investigate the market cap of the token which is more misleading from a liquidity point of view.
“The good news is that global liquidity was fairly flat during the second quarter, with no further declines except for tokens filed in SEC lawsuits and a few instances of declines in exchange-specific liquidity.”
In terms of volumes, the liquidity of the XRP asset Ripple cryptocurrency rose by two places from the previous quarter to third in the rankings. He explained that this is due to investors’ willingness to rule in the expected and imminent SEC vs. Ripple court case.
Moreover, XRP has seen huge volumes on Korean exchanges.
The research also indicated that the Layer-2 rollup Arbitrum (ARB) native token is sixth in size and ahead of many Layer-1 tokens. It added that the high rating for ARB Bank was notable because it was a new entry in the liquidity ranking for the quarter.
Tokens that have improved in liquidity ratings include Avalanche (AVAX), Solana (SOL), and privacy currency Monero (XMR).
Those that fell in the liquidity ratings include Cosmos (ATOM), Filecoin (FIL), and Polygon (MATIC). All three of these have been affected by the SEC’s claims that they are securities.
It reported that the Aptos blockchain network’s native token, APT, has liquidity far exceeding its market cap.
In addition, LEO, TON, TRX and OXB performed poorly, with no improvement in liquidity from the previous quarter.
XRP price forecast
Ripple’s native token has slipped slightly on the day in a drop to $0.471 at the time of writing.
XRP has been flat over the past week after failing to reach $0.50 earlier this month.
XRP has been sideways since mid-March like a coiled snake waiting to jump on the outcome of the SEC case.
How it goes will depend on the judge who presides over it.
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