XRP is getting boosted by the longest-standing cryptocurrency exchange in the industry.
Bitstamp recently unveiled a promotion that’s designed to increase the earnings for those who lend certain cryptocurrencies, and XRP is amongst them.
Lending cryptocurrencies has been a lucrative way of increasing one’s stack for a while now, and Bitstamp hasn’t stayed away from the increasingly popular trend. However, it’s also true that the majority of exchanges offer relatively low returns because of the massive demand for lending products.
Bitstamp is now featuring an offer that’s only going to last for 30 days and will increase the APY of select cryptocurrencies by up to 6%. These include:
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
Now, it’s interesting to note that up until a few weeks ago, XRP wasn’t even allowed for trading on Bitstamp. The reason was the ongoing case between Ripple and the United States Securities and Exchange Commission. This all changed when the court ruled that secondary sales of XRP do not constitute investment contracts, and Bitstamp, alongside a range of other leading exchanges, relisted the asset for trading.
What a change of heart it has been. The case is still ongoing, and the SEC recently appealed this ruling.