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- Recent data revealed that Despite ripple’s partnership with Moneygram, the XRP liquidity index is far from its an all-time high.
- The liquidity of all the four important Ripple’s ODL corridors taken account of by the XRP Liquidity Index Bot.
According to the recently published data, even though Ripple has joined hands with Moneygram, their indexes of XRP liquidity are still far away from reaching even close to all-time highs of the Ripple’s On-Demand Liquidity (ODL) channels.
https://twitter.com/LiquidityB/status/1277497260910219264
Mexican Corridor The Most Popular Old Channel
The liquidity of all the four important Ripple’s ODL corridors taken account of by the XRP Liquidity Index Bot. The Mexico channel is often considered Ripple’s most popular ODL channel because it is active in contributing to the total volume. Also, It offers the highest liquidity.
However, the recent data from Liquidity Index Bot’s Twitter account suggests that the present index values are not even close to an all-time high of the famous ODL channels at the exchanges such as Bitstamp, Bitso, Coins ph, and BTC market.
No Significant Difference In Liquidity And Volume
Despite Ripple service ODL’s collaboration with MoneyGram there has been no significant increase in the coin’s liquidity and the XRP volumes sent through the ODL corridors. 4 months ago, the money transfer platform MoneyGram had gained over $11 million from the Blockchain firm, Ripple, as said by the Securities and Exchange Commission. The main motive of MoneyGram’s strategic partnership with Ripple was to utilise the Blockchain technologies properly.
Bitso, a crypto exchange has been using the ODL corridors in order to promote ODL adoption as well as volume in the Latin American part. A few months ago, the European XRP/USD corridor saw a high of 35,746,047.
MoneyGram has recently partnered with South Korean payment operator firm Global Money Express. It also collaborated with the Digital Financial Services platform and its partnered client eWallet in the UAE.
More ODL Channels To Open This Year
However these aforementioned partnerships have no direct effect on the popularity or the volume of the ODL corridors, but in a way, if it’s partner MoneyGram receives recognition there’s a possibility that users will tend to ODL service.
However, a few days ago, the Senior Vice President of Product and Corporate Development Asheesh Birla had released a post regarding the ODL. He explained how these on-demand liquidity products can be useful in such pandemic stricken situations and the company plans to open some more ODL corridors this year.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
