As usually does happen in the crypto markets, a lot of legitimate crypto companies undertake an audit on a quarterly basis to show to their customer and the public out there that how profitable the company is and how that translates to the worth of the company in every quarter. And you can get such details in Bitcoin news a perfect source of correct information. Such kinds of audits help the experts in estimating the market capitalization, and these kinds of audits also help in maintaining transparency between the involved parties in the cryptocurrency market. And guess what Ripple is inflated.
Just before the disclosure of the 4th quarter 2018 report by Ripple, the Research team at Messari conducted a full-blown research to gauge the health and the legitimacy of current value that had been given to ripple in terms of its market cap. Saudi Arabia’s cryptocurrency has been declared illegal in Saudi by the government.
A very close monitoring by the team from Messari found out that the market cap of Ripple mat is largely overstated by almost $6.1 billion. The cryptocurrency currently has a cap of 13 billon US dollars as against 6.9 billion US dollars as calculated by the team from Messari. If we assume that this value is correct, then market cap for Ripple is, as of now, overstated by almost 48%. The Messari team claims that they have been trying to reach out to the management at Ripple, not once but may times, and yet they have not been able to get answers to their questions. The Messari teas has stated that the cryptocurrency has not yet shared its methods of calculating the volumes of trading for the digital currency, XRP. This, as per the experts, is very crucial in driving of restrictions on selling.
The team at Messari strongly urges the management team at Ripple to come clean with methodology of selling based on volumes so that the investors are better informed of the risks involved. Ethereum price, return control of the data in these types of services to its owner and the creative rights to its author.