Bitstamp USD quote backed by only 4.44% of XRP ledger
Original headlineXRP 레저 4.44%만 뒷받침된 비트스탬프 USD 호가
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Bitstamp-issued USD quotes on the XRP Ledger were only 4.44% backed by actual account balances as of a November 5 snapshot, with just 56,887.14 of 1.28 million displayed tokens backed by holdings, according to CryptoSlate's coverage of NOSHASHI order-book analysis. The gap stemmed largely from a single account that posted 1,241,760 tokens while holding only 17,967.22. By contrast, Ripple USD (RLUSD) quotes were fully collateralized, with all 92,098.64 displayed tokens matched by account balances. The discrepancy matters because it suggests much of the visible XRPL order-book liquidity for Bitstamp USD may not represent immediately settleable funds. The comparison measured displayed ledger amounts against quote-account balances at a point in time rather than executed trade volume, so watch whether the shortfall persists in later snapshots and whether it affects quoted depth and spreads.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
XRP Ledger, Bitstamp, RLUSD, NOSHASHI, CryptoSlate