Messari Research on XRP’s Market Evaluation Leads Threat Calls

xrp

Messari Research on XRP’s Market Evaluation Leads Threat Calls

So a new scenario emerged for the whole community of Ripple and the founder for a crypto data startup Messari. Earlier this week, Messari estimates ‘market capitalization for XRP and claims that it has been overstated’ as much as 48 percent.

Ripple fights back

Messari’s latest finding reveals that ‘the combined value of all XRP tokens is significantly overstated’. Eventually, the report indicates, XRP’s second position is not what it supposed to be, it would otherwise be on the third spot after Bitcoin and Ethereum. If these theses believe to be true, the market cap of XRP would be $6.9billion.

Image source – coinmarketcap

However, there isn’t any response from Ripple’s executive on social media yet, but the source revealed that they reached out Coindesk team stating about the report’s inaccuracy. Nevertheless, the media states that a spokesperson from Ripple team reports ‘Messari’s research is an incorrect calculation of market capitalization’.

“Not only does this report contain several inaccurate assumptions around lockups and selling restrictions, but the entire report is also based on an incorrect calculation of market cap. While decentralized digital assets like XRP are different from traditional equities, the term ‘market cap’ is always a very simple calculation: current price X total number of the asset = market capitalization. That puts XRP’s current market cap at approximately $31 billion. We believe that any other calculation of market capitalization for XRP is not a clear representation of the truth.”

We’ve already Informed – Ryan Claims, Messari’s founder

Since XRP community is quite active on social media, the Messari’s report shared by its founder, Ryan Selkis captured the attention of major crypto indices and wider XRP enthusiasts. While Ripple’s spokesperson calls Messari’s statement as unrealistic, on the other hand, Ryan Selkis said that they’ve already reached Ripple’s team to verify the report. Having said this, there wasn’t any response to the report before it was published.

XRP community didn’t considered Ryan’s claim to consult Ripple team before publishing but they blasts. Few call it FUD and few states it ‘corrupt’. Moreover, one among such follower adds that the report is more like the recent ‘Hostile Takeover Rumors’.

Threat Calls and Police Involvement

The war isn’t stopped yet, Ryan Selkis on Jan 24, 2019, angrily blasts at Ripple’s chair including Brad Garlinghouse (CEO), David Schwartz (CTO), Cory Johnson, Monica Long, Warren Paul Anderson. His tweet states that his family has been receiving threatening calls after he exposed MtGox and Ripple’s report. Consequently, he demands Ripple’s lead executive to denounce any XRP community threats against his family.

Ryan further adds that he will bring the case to the FBI and local police after three calls.

While this report was quite interesting for Ethereum which would show it as the second largest cryptocurrency, on the other hand, it pitches a ‘shocking’ mark for Ripple officials and XRP community members at large’.

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Messari Research on Ripple Leads Threat Calls – Ripple Blasts it Disputed Finding
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Messari Research on Ripple Leads Threat Calls – Ripple Blasts it Disputed Finding
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So a new scenario emerged for the whole community of Ripple and a founder for a crypto data startup Messari. Earlier this week, Messari estimates ‘market capitalization for XRP and claims that it has been overstated as much as 48 percent.
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Coingape
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Reach out to her at [email protected]