Bitstamp Makes Highly Anticipated XRP Announcement, But Does It Live Up To The Hype?

On Wednesday, August, 2, crypto alternate Bitstamp made a cryptic tweet teasing a brand new announcement and improvement for XRP. The alternate saved its promise and made the announcement. Nevertheless, did it reside as much as the expectations and hype?

The Large Announcement

Well-liked digital asset alternate platform Bitstamp has lately unveiled its extremely anticipated XRP announcement. The brand new characteristic permits customers to stake their XRP holdings and earn long-term 2% APY in rewards. This providing is a part of the platform’s artistic Bitstamp Earn Lending Program, which provides customers a dependable and safe means to lend their XRP holdings and earn rewards in return. 

Bistamp’s lending service stands out due to its quite a few advantages that present members with confidence in the entire lending process. Bitstamp will even not convert or lend customers’ belongings with out specific consent and directions. To partake in XRP staking, customers of the platform can simply navigate to the Earn Lending column on Bitstamp. Whereas on the part, they are going to be supplied an choice to stake their XRP and earn the mouth-watering 2% APY rewards. 

To bolster belief and entrench transparency, Bitstamp has partnered with Tesseract, a famend agency that’s specialised in unique lending to trusted debtors. Tesseract will conduct thorough credit score and danger evaluations on all potential debtors, thereby augmenting the final security and reliability of the lending service. 

Bitstamp will even render month-to-month efficiency studies to boost transparency. The studies will cowl key metrics, akin to the danger profile of debtors, portfolio focus, and collateral ranges. 

XRP worth shakes off Bistamp announcement | Supply: XRPUSD on Tradingview.com

Members of XRP React

The latest announcement has sparked a wave of expectations and reactions inside the XRP neighborhood. The announcement of the two% APY on XRP lending has been met with disappointment as neighborhood members anticipated a extra groundbreaking revelation. 

Neighborhood members had beforehand speculated on the character of the announcement, with some XRP proponents speculating that Bitstamp might take into account a full integration with the XRP Ledger (XRPL) decentralized alternate (DEX). 

Well-liked XRP neighborhood members like Dig Perspective emphasised that whereas the two% APY seems to be good, the neighborhood anticipated one thing extra exceptional.

No offense @Bitstamp. 2% is nice however we have been on the lookout for a bit extra,if in case you have it to share? https://t.co/0iinJWFYi6

— Digital PerspectivesPermaBull🪝 (@DigPerspectives) August 3, 2023

Whichever method it goes, it stays to be seen if Bitstamp will reside as much as its guarantees. 

XRP’s worth is at present buying and selling at $0.66, representing a 0.65% and seven.17% decline on the every day and weekly charts, respectively.

Featured picture from iStock, chart from Tradingview.com