The company sold $251.51 million worth of XRP in Q2, and this translates as an increase of more than $80 million compared to the first quarter of the year.
The Daily Hodl notes that Ripple plans to have a more conservative approach from now on.
They revealed a shift in the direction following massive scrutiny and criticism about the way crypto exchanges report trading volume data.
You may recall that a report from the crypto index and beta fund provider Bitwise revealed not too long ago that “95% of the volume reported on CoinMarketCap is fake,” writes the Daily Hodl.
Ripple plans to change its approach
Ripple said that it plans to use new ways to evaluate the trading volume and intends to take a more conservative approach regarding the selling of its XRP holdings.
“Ripple worked with trusted partners to evaluate new sources of legitimate trading volume,” according to the report.
The notes continue and detail, “After evaluation, Ripple decided CryptoCompare’s Top Tier (CCTT), the exchanges rated ‘AA,’ ‘A,’ and ‘B’ by its Exchange Benchmark, offers a more complete look on the quality, regulatory environment, management, and structure of exchanges that filter out a majority of unverified volumes.”