Ripple, the developer of XRP, the third largest cryptocurrency by market cap just behind bitcoin and ethereum, has revealed in its second-quarter earnings report that during that period it sold $251.51M in XRP tokens.
According to the report, the company sold around $169.42M in XRP tokens in the first quarter of 2019, which means that token sales have jumped by 48% compared to the previous quarter.
This rally has been partly boosted by the significant increase in direct institutional sales, which have recorded an increase of almost 73% - from the $61.9M registered in the first quarter to $107.9M in the second quarter.
However, the company has said it plans to take a more conservative approach regarding token sales in the third quarter of the year.
Ripple has reported that it has restricted the sales of XRP tokens during the quarter due to inflated trading volumes. As a result, the company has temporarily halted programmatic sales and limited direct institutional sales.
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