SBI VC Trade, SBI Holdings’ Japan-based crypto division, has announced its entry into the XRP Ledger as a validator, marking a significant event in the cryptocurrency world. As of May 10, the XRPL is set to benefit from the services of one of Japan’s leading crypto firms, enhancing the ecosystem development.
The XRP Ledger is a decentralized blockchain that supports the XRP cryptocurrency, created by Ripple Labs. SBI VC Trade’s role as a validator on the XRPL involves tasks such as validating transactions, maintaining the blockchain ledger, participating in the consensus mechanism, and ensuring network security.
In an official statement, SBI VC Trade expressed its intention to be a validator that represents the XRP holder community in Japan. If successfully registered as a validator with the Unique Node List (UNL), the company could have a say in voting decisions for new features on the network.
The news of SBI VC Trade becoming a validator on the XRPL has sparked optimism among XRP supporters, with pro-XRP lawyer Bill Morgan sharing his positive views on the development.
Despite the positive news, XRP’s price has seen a decline in the midst of an overall market recovery. While Bitcoin and other altcoins have shown gains, XRP has slipped by 0.77% in the past 24 hours, trading at $0.5177.
The market cap of XRP has also decreased by 0.81%, with a drop in trading volume. The token’s price chart reflects a consolidation phase, with investors eagerly anticipating a potential bull run that could push XRP above $1.
However, regulatory uncertainties surrounding the Ripple vs. U.S. SEC lawsuit continue to impact XRP’s price movements. The recent development of SBI VC Trade joining the XRPL as a validator has brought some optimism to the XRP community amidst these challenges. The Importance of Time Management
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