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XRP/PHP liquidity hits ATH; Philippines corridor records surge in volume

Chayanika Deka

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Source: Pixabay

Ripple has had an incredible start to the new year. Its On-Demand Liquidity [ODL] and usage and payment volume have been breaking new records. According to the latest update by Liquidity Index Bot, XRP/PHP registered an all-time high of 6.026 million on 5 March on the Philipines corridor which works via Coins.ph.

Source: Liquidity Index Bot | Twitter

The liquidity index for XRP/PHP on Coin.ph first hit the 5 million mark on 10 February, following which the chart witnessed a spike and a subsequent dip. Its last ATH stood with a liquidity of 5.526 million on the 19th of February, as relayed by Liquidity Index Bot.

According to the Public Tableau by Twitter user @hmatex, the ODL flow for PHP between Bitstamp and Coins.ph was the second-most active just behind the ODL flow between Bitstamp and Bitso. For the daily chart, the ODL volume stood at $2 million with 262 counts.

On the weekly chart, the figures touched $8 million with 1,530 counts, while in terms of its quarterly ODL flow between the aforementioned crypto platforms, the figures reached $50 million with 7,579 counts.

Source: Public Tableau | ODL Flow between Bitstamp and Coins.Ph

Additionally, data from Utility Scan revealed that the ODL volume for the USD-PHP corridor for the past 24-hours stood at $1.8 million. The chart was dominated by MXN-USD with a volume of $4.68 million over the same time frame, while figures for USD-MXN stood at $1.38 million.

Source: Utility Scan

Meanwhile, in terms of the liquidity via XRP/MXN on Bitso, the figures have been on a decline after hitting an all-time high of 20 million. According to the data released by Liquidity Index Bot, the liquidity of XRP/MXN was noted at 13.9 million on 5 March.

Besides, the liquidity index for BTC Markets via XRP/AUD was also seen close to its ATH with a figure of 4.82 million on 5 March. This is a positive development for the chart, especially after falling below 2 million on 16 February, this year.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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