Bitbox,exchange di cryptocurrency launched by Line, the most popular messaging app in Japan, has decided to exclude Ripple from his negotiations. A decision that has not been commented on by sources within the company, but which would be due to the failure to meet the parameters required by the platform itself. In particular, XRP would not meet the reliability, liquidity and performance requirements that the exchange considers fundamental.
A completely unexpected decision
Bitbox's decision not only caused a sensation, but also a certain bewilderment. The decision to cancel either Ripple that the XRP-BTC, XRP-ETH and XRP-USDT runs from midnight on January 16th. All outstanding orders concerning cryptocurrency and connected couples will therefore be automatically canceled. Users, in turn, will still be able to proceed with the withdrawal until February 16, 2020.
Bitbox is one platform dedicated to cryptocurrency trading which opened its doors during the 2018. The exchange was launched by Line, a messaging app that after conquering Japan started to conquer foreign markets. To date, it boasts over 200 million users scattered all over the globe, who have shown that they like a proposal that integrates free messages, like Whatsapp, free calls, as Viber does, and a timeline that follows that of Facebook.
A low blow for Ripple?
Bitbox's decision comes in a very special moment for Ripple. The cryptocurrency aimed at the banking market has in fact just closed for the second consecutive year on the downside, leaving almost half of its market capitalization on the ground.
At the same time, however, it continued to receive considerable appreciation from investors. Demonstrated by the over 200 million raised during the fundraising that was initiated by tetragon just before the holiday season. In practice, it was the company that received the most appreciation among those who opted for this route in order to finance the development of its activities.
The decision of the exchange was therefore interpreted by some analysts as a sort of low blow, in that it touches on a very particular topic, on which Ripple has basically based its fortunes, at least in terms of image.
Reasons that do not convince
It should then be emphasized as the blockchain of XRP is now valued at over $ 10 billion. A demonstration of remarkable strength and reliability that it clashes considerably with the motivations set by Bitbox, also in light of the fact that XRP aims to solve the speed and security issues shown by other digital currencies, starting with Bitcoin.
A proposal that has also found fertile ground within the financial world, constantly looking for technical tools that can make online transactions safer and cheaper.
It should also be stressed that the announcement of Bitbox arrives at a time made even more complicated by the fact that some of the major holders of XRP have come to threaten a hard fork, aimed at overcoming a series of problems highlighted in the past months. A threat that could soon become topical again.