XRP Receives Boost from Bitstamp’s Latest Promotion
In a move to increase earnings for cryptocurrency lenders, Bitstamp, the longest-standing cryptocurrency exchange in the industry, has launched a new promotion. The promotion aims to capitalize on the growing popularity of lending cryptocurrencies and includes XRP among the eligible assets.
Lending cryptocurrencies has proven to be a lucrative strategy for many investors. However, most exchanges offer relatively low returns due to the high demand for these lending products. Bitstamp’s promotion is set to change that, at least for the next 30 days. The exchange is offering an exclusive offer that will boost the Annual Percentage Yield (APY) of select cryptocurrencies by up to 6%. The eligible assets include Ethereum (ETH), Ripple (XRP), USDT, Litecoin (LTC), and Bitcoin Cash (BCH).
What makes this development particularly interesting is the recent change in Bitstamp’s stance towards XRP. Until a few weeks ago, the exchange did not allow trading of XRP due to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC). However, the court recently ruled that secondary sales of XRP do not constitute investment contracts. As a result, Bitstamp, along with other leading exchanges, promptly relisted XRP for trading.
While this change of heart from Bitstamp is significant, it’s important to note that the case between Ripple and the SEC is still ongoing. The SEC has recently appealed the court’s ruling, indicating that the legal debate is far from over.
It’s worth mentioning that the promoted article includes sponsored content. However, the information presented here is based solely on the news about Bitstamp’s promotion and its impact on XRP. Please consult credible sources for more comprehensive and unbiased information.
Sources:
– [Bitstamp’s Official Announcement](https://blog.bitstamp.net/post/elevate-your-crypto-lending-standards-exclusive-30-day-boosted-apy/)
– [CoinDesk’s Coverage of Ripple’s Legal Battle](https://www.coindesk.com/ripple-sec-lawsuit)
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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