{"id":554595,"date":"2023-10-09T10:00:37","date_gmt":"2023-10-09T10:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=554595"},"modified":"2024-06-11T07:55:55","modified_gmt":"2024-06-11T07:55:55","slug":"crypto-analyst-xrp-deflationary","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/crypto-analyst-xrp-deflationary\/","title":{"rendered":"Crypto Analyst Presents Data To Prove That XRP Is Deflationary"},"content":{"rendered":"

In the past, many have argued whether or not the<\/span> XRP token<\/span><\/a> was deflationary or not. In support of the former, pro-XRP crypto analyst Panos Mekras has provided data that suggests that the token has deflationary characteristics.\u00a0<\/span><\/p>\n

Number Of Tokens Burned So Far<\/h2>\n

In a <\/span>tweet<\/span><\/a> shared on his X (formerly Twitter) platform, Mekras referenced <\/span>another tweet<\/span><\/a> showing that <\/span>over 11 million tokens<\/span><\/a> had been burned. This stat undoubtedly suggests that the token is deflationary since its total supply has decreased over time due to the burn mechanism.<\/span><\/p>\n

Related Reading: 39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here\u2019s When<\/a><\/div>\n

However, another X user (@hasen_van) <\/span>argued<\/span><\/a> that the token was only deflationary in \u201crespect to all XRP in existence\u201d and that the token will continue to be inflationary as long \u201cas <\/span>Ripple keeps on selling<\/span><\/a> into the open market.\u201d<\/span><\/p>\n

\n

true with respect to all XRP in existence, but from a holders point of view – given that mostly all exchanges are using circulating supply (x price) to measure market cap, XRP is inflationary as long as ripple keeps on selling into the open market. #fridayfacts<\/a><\/p>\n

\u2014 VanHasen (@hasen_van) October 6, 2023<\/a><\/p><\/blockquote>\n

In response, Mekras tried to correct the belief that some XRP tokens were not yet \u201cin existence\u201d as he stated that XRP\u2019s total supply of 100 billion has existed since \u201cday 1,\u201d meaning that 100% of its supply has been circulating from the beginning and some XRP tokens cannot be classified as \u2018non-existent\u2019 yet.\u00a0<\/span><\/p>\n

This debate seems to stem from the fact that Ripple has an <\/span>escrow system in place<\/span><\/a>. As such, some (like VanHansen) believe that the <\/span>XRP in escrow lockups<\/span><\/a> does not fall under its circulating supply and that this escrow system affects XRP\u2019s deflationary status. However, people like Mekras argue that the escrow system doesn\u2019t change the fact that the token is deflationary.<\/span><\/p>\n

VanHansen <\/span>further argued<\/span><\/a> that the token cannot be deflationary (except technically) as XRP\u2019s circulating supply gets inflated every time \u201cRipple releases XRP from the escrow.\u201d Both sides seemed to look at it from different angles, with Mekras abiding by what deflationary meant in the strict sense while VanHansen was trying to provide a context.\u00a0<\/span><\/p>\n

\"XRP<\/p>\n

Bulls continue to fight to hold support | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Is XRP Deflationary Or Not?<\/h2>\n
It is worth mentioning that the <\/span>XRP Ledger <\/span><\/a>doesn\u2019t exactly have a built-in mechanism to decrease the token’s total supply, unlike some other networks. For instance, Ethereum implemented the <\/span>London hard fork<\/span><\/a>, which introduced a fee-burning mechanism with some Ether burned immediately after processing a transaction.<\/span><\/p>\n
Related Reading: When Are AMMs Coming To XRP Ledger? Ripple CTO Gives Clear Answer<\/a><\/p>\n
However, in XRP\u2019s case, these token burns have occurred coincidentally rather than being a deflationary model on the network. In July, an engineer at Ripple <\/span>explained<\/span><\/a> that the monumental increase in the burn rate was mostly because of the <\/span>XRPL<\/span><\/a> account deletions. He mentioned that 2 XRP are usually burned when an account is deleted.\u00a0<\/span><\/p>\n
He further noted that 85,556 old accounts on the Ledger were deleted in June, which led to over 100,000 XRP being burned. Hence, the burned token figure rises every time an account is deleted.<\/span><\/p>\n
Featured image from Facts.net, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In the past, many have argued whether or not the XRP token was deflationary or not. In support of the former, pro-XRP crypto analyst Panos Mekras has provided data that suggests that the token has deflationary characteristics.\u00a0 Number Of Tokens Burned So Far In a tweet shared on his X (formerly Twitter) platform, Mekras referenced another tweet showing that over 11 million tokens had been burned. This stat undoubtedly suggests that the token is deflationary since its total supply has decreased over time due to the burn mechanism. Related Reading: 39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here\u2019s When However, another X user (@hasen_van) argued that the token was only deflationary in \u201crespect to all XRP in existence\u201d and that the token will continue to be inflationary as long \u201cas Ripple keeps on selling into the open market.\u201d true with respect to all XRP in existence, but from a holders point of view – given that mostly all exchanges are using circulating supply (x price) to measure market cap, XRP is inflationary as long as ripple keeps on selling into the open market. #fridayfacts \u2014 VanHasen (@hasen_van) October 6, 2023 In response, Mekras tried to correct the belief that some XRP tokens were not yet \u201cin existence\u201d as he stated that XRP\u2019s total supply of 100 billion has existed since \u201cday 1,\u201d meaning that 100% of its supply has been circulating from the beginning and some XRP tokens cannot be classified as \u2018non-existent\u2019 yet.\u00a0 This debate seems to stem from the fact that Ripple has an escrow system in place. As such, some (like VanHansen) believe that the XRP in escrow lockups does not fall under its circulating supply and that this escrow system affects XRP\u2019s deflationary status. However, people like Mekras argue that the escrow system doesn\u2019t change the fact that the token is deflationary. VanHansen further argued that the token cannot be deflationary (except technically) as XRP\u2019s circulating supply gets inflated every time \u201cRipple releases XRP from the escrow.\u201d Both sides seemed to look at it from different angles, with Mekras abiding by what deflationary meant in the strict sense while VanHansen was trying to provide a context.\u00a0 Bulls continue to fight to hold support | Source: XRPUSD on Tradingview.com Is XRP Deflationary Or Not? It is worth mentioning that the XRP Ledger doesn\u2019t exactly have a built-in mechanism to decrease the token’s total supply, unlike some other networks. For instance, Ethereum implemented the London hard fork, which introduced a fee-burning mechanism with some Ether burned immediately after processing a transaction. Related Reading: When Are AMMs Coming To XRP Ledger? Ripple CTO Gives Clear Answer However, in XRP\u2019s case, these token burns have occurred coincidentally rather than being a deflationary model on the network. In July, an engineer at Ripple explained that the monumental increase in the burn rate was mostly because of the XRPL account deletions. He mentioned that 2 XRP are usually burned when an account is deleted.\u00a0 He further noted that 85,556 old accounts on the Ledger were deleted in June, which led to over 100,000 XRP being burned. Hence, the burned token figure rises every time an account is deleted. Featured image from Facts.net, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":554598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,89599,89601,89600,83637,13172,10972,78763],"class_list":["post-554595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-deflation","tag-xrp-deflationary","tag-xrp-inflation","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nCrypto Analyst Presents Data To Prove That XRP Is Deflationary<\/title>\n<meta name=\"description\" content=\"Pro-XRP crypto analyst Panos Mekras has provided data that suggests that the token has deflationary characteristics.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Presents Data To Prove That XRP Is Deflationary","url":"http:\/\/wncen.com\/news\/ripple\/crypto-analyst-xrp-deflationary\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/crypto-analyst-xrp-deflationary\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/XRP-deflationary.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/XRP-deflationary.jpeg?fit=1270%2C768"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp deflation","xrp deflationary","xrp inflation","xrp news","xrp price","xrpusd","xrpusdt"],"dateCreated":"2023-10-09T10:00:37Z","datePublished":"2023-10-09T10:00:37Z","dateModified":"2024-06-11T07:55:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Presents Data To Prove That XRP Is Deflationary\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/crypto-analyst-xrp-deflationary\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/crypto-analyst-xrp-deflationary\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/XRP-deflationary.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/XRP-deflationary.jpeg?fit=1270%2C768\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp deflation\",\"xrp deflationary\",\"xrp inflation\",\"xrp news\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-10-09T10:00:37Z\",\"datePublished\":\"2023-10-09T10:00:37Z\",\"dateModified\":\"2024-06-11T07:55:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/XRP-deflationary.jpeg?fit=1270%2C768","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554595"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=554595"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/554598"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=554595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=554595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=554595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}