Bitcoin has surpassed XRP in JPY denominated holdings of cryptocurrency
- Data by The Japan Virtual Currency Exchange Association (JVCEA), shows Bitcoin outstripped XRP JPY denominated holdings.
- There is an increase in XRP accumulation, which is suggested to be attributed to the banking partnerships being added by Ripple.
The Japan Virtual Currency Exchange Association (JVCEA) released some data which reveals that as of April 2019, Bitcoin (BTC) the value of yen-denominated holdings has surpassed that of those in XRP on the domestic exchanges.
In terms of the surge in the value of exchanges’ Bitcoin holdings, it did coincide with the start of the 2019 bullish trend for Bitcoin.
The data compiled by JVCEA’s does indicate that throughout 2019, a greater amount of XRP is consistently being accumulated, suggesting that it reflects the increasing number of banking partnerships for Ripple.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
