Coinfield has announced that it has started providing investors and traders with Ripple XRP and SOLO token liquidity solutions. The announcement was made on Twitter via Sologenic Bob Ras CEO Twitter handle, where he exchanged that the liquidity solutions for the tokens would be made available for their clients and customers on the Coinfield platform. The CEO was quoted as saying they had been working tirelessly for weeks trying to come up with the service but was happy now that it has become a reality. “Over the past few weeks, we’ve been working on a solution to provide some liquidity for both SOLO & XRP on the XRPL DEX. We’re glad to inform you that all tests have been successful & it’ll go live shortly today,” he said.
The new development means that the SOLO token would be made available on the XRPL decentralized exchange platform in addition to providing liquidity solutions to both coins. The CEO said the usage of XRP based platform, Xumm will allow its customers to perform swift and efficient services. The developer of Xumm stated that due to the high rate of volatility recorded by SOLO in the recent weeks, it could not be added to XRP’s ledger due to its limited supply in the market. Xumm, which was launched in March by XRP labs, already had about 3,700 clients on its platform, with the list growing every day.
With this new development, users can trade in digital currencies as well as enjoying the services a bank would offer to it’s clients. This innovation will help push Xumm on a global scale as well as the adoption of cryptocurrencies in the world.
Ripple Customers In Crypto Market Dwindling
With Ripple XRP being pushed out of the leading digital assets, according to CoinMarketCap, the coin has gotten a lot of negative comments from leading crypto experts as well as its customer base. Many experts believe that Ripple tries to manipulate the price of its coin and makes the users think it is decentralized, which is not. However, the crypto community is beginning to get increasingly impatient with the coin with research showing that the coin’s customer base has reduced drastically since 2018. The total number of Ripple community members as of 2018 was 64,525 but reduced drastically to 28,624 in 2019, and by April 2020, the total number of XRP community base gas fallen to 23,299. The main factor for the loss of faith in the coin is the increasing fall of the currency in the market, with most of the long term XRP holders losing money instead of making gains.
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