News: Ripple Whale: It Only Takes $20,000 To Become a XRP One-Percenter
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0:00:00 Ripple Whale: It Only Takes $20,000 To Become a XRP One-Percenter
0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:12 How cryptocurrencies like Bitcoin or XRP are distributed can impact a specific asset’s success, both in terms of trust in the asset, but also how scarcity might affect an asset’s long-term value.
0:00:23 And while XRP is often the target of much distaste surrounding the way the asset was distributed, becoming a Ripple whale and joining the top 1% of all XRP holders doesn’t take a lot of initial capital.
0:00:35 Because cryptocurrencies like Bitcoin and XRP are new, emerging technologies that are also financial assets, analysts look at a number of different data points to attempt to determine a fair market value.
0:00:47 One such metric that’s often looked at, is the distribution of each asset across wallets, including the percentage breakdown of how many wallets are holding different levels of assets.
0:00:56 One crypto analyst has shared a chart that reveals the average assets held across the top 10% of XRP holders.
0:01:04 The data shows that to become a “one-percenter” in XRP – a term coined to show high wealth inequality against the other 99% of the population – one only needs to hold roughly $20,000 in Ripple at today’s prices of 26 cents per XRP token.
0:01:19 A simple breakdown of what it takes to be in the top 10% of $XRP holders.
0:01:24 Came across this and thought it was pretty interesting.
0:01:27 If you are holding more than 70,000 XRP you are in the top 1% of holders.
0:01:33 The table shows that the top 1% of Ripple accounts hold roughly 69,000 XRP on average.
0:01:39 To be in the top 0.1% of account holders, one would need to hold over 188,000 XRP, and to earn the highest spot at 0.01% of account holders, it would be over a cool $4.25 million USD for under 16.5M tokens.
0:01:56 Thanks for checking this video!
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