XRP Healthcare Halts Token Swap To Increase Token Scarcity

On Monday, XRP Healthcare, a blockchain-based platform for the pharmaceutical and healthcare industries, announced that it would stop its XRP to XRPH token swap facility. This strategic move comes in response to the “unprecedented demand” for XRPH tokens.

XRPH is the native token of XRP Healthcare. Users can leverage its utility to purchase a wide range of healthcare products and services at the company’s decentralized marketplace. According to CoinMarketCap, the token was trading at $0.04932 at the time of this article, with a circulating supply of 70,708,715 XRPH.

Source: CoinMarketCap

Furthermore, in a press release dated May 27, the company stated that it would halt its new swap feature on June 7 this year or as soon as the XRPH tokens in its Swap facility have been depleted. We decided to preserve the finite supply and availability of XRPH tokens. This ensures their continued use at up to 68,000 pharmacies, including major retailers such as Walmart, CVS, and Walgreens.

XRP Healthcare Halts Swap Facility To Boost XRPH Value

Laban Roomes, the Business Development Officer at XRP Healthcare, explained that this proactive approach mirrors the supply control mechanisms of successful cryptocurrencies. These include Bitcoin and Ethereum. “By halting the swap facility, we are taking a proactive approach to managing our token supply, much like the mechanisms seen in successful cryptocurrencies such as Bitcoin and Ethereum,” Roomes stated. “This ensures our consumers benefit from a finite supply of XRPH tokens, which are becoming increasingly scarce daily.”

Halting the token swap facility is just one step XRP Healthcare takes to manage the token’s supply. The company also plans to blackhole XRPH’s issuing account, preventing further token issuance. We expect that halting the swap facility and implementing this measure will create a scarcity of XRPH tokens. This scarcity could increase their value and make them more attractive to users and investors.

Moreover, by taking these proactive steps, XRP Healthcare aims to position XRPH as a valuable and finite resource within its decentralized healthcare ecosystem. This is much like the role played by established cryptocurrencies in their respective markets.

Related Reading | Ethereum ETFs: Michael Saylor’s Optimism & Institutional Adoption

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

Comments (No)

Leave a Reply