XRP Healthcare Ceases XRP To XRPH Swap Facility Amid Supply Crunch, What's Happening?

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XRP Healthcare Stops New Staking of XRPH Token Amid Supply Squeeze – Crypto News

Published

1 year ago

July 23, 2024

Dripp

In the follow-up of XRP Healthcare’s efforts to address concerns of XRPH supply crunch, the blockchain-based healthcare platform today revealed that it is stopping new staking activities for its token. The decision by the firm comes as an effort to preserve XRPH finite supply of just 100 million coins and tap into real-world endeavors.

XRP Healthcare Scopes In On Real-World Endeavors?

As per an official press release dated today, July 23, the decision to stop new staking-related activities mirrors the blockchain-based healthcare firm’s commitment to focus on real-world healthcare business operations rather than just digital token-based activities. However, this also means that users who already staked XRPH tokens can continue until their term has expired. Meanwhile, no new staking activities will take place.

The healthcare firm is already expanding its footprint across Africa, revolutionizing pharma services nationwide. Moreover, in light of the firm’s token’s supply squeeze, it even stopped the XRP to XRPH swap facility earlier this year.

As revealed by Kain Roomes, CEO and Founder of XRP Healthcare, the token issuing account was further black-holed in an effort to cement the supply at 100 million coins. The abovementioned decision to halt staking is an effort to further preserve the token supply.

Also, the XRP Healthcare CEO revealed earlier this month that a major development for the project is already in the pipeline. Although much details were not offered on the advancement, the news has garnered significant attention to the healthcare firm.

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Execs Talk On Recent Decision

The Chairman of XRP Healthcare, Whitney Lynn, stated, “Our finite token supply, secured through black-holing, underscores our commitment to creating enduring value for our stakeholders. As we pivot our focus towards real-world applications, especially in Uganda, we are dedicated to improving healthcare delivery through strategic investments in pharmacies, medical centers, and hospitals.” Further, the chairman added that the approach is to strengthen the firm’s business models while also making a significant impact on the global health landscape.

Simultaneously, the Business Development Officer, Laban Roomes, stated that “Halting new staking of the XRPH token is a crucial step to ensure the long-term value and scarcity of our tokens.” The firm expects to leverage this decision, focusing on other vital things such as mergers and acquisitions, particularly in Uganda.

It’s worth also mentioning that the XRPH cryptocurrency traded at $0.03138 today, down 1.54%. XRPH is the native token of the XRP Healthcare ecosystem, functioning atop the XRP Ledger (XRPL) layer-1 blockchain. The token was launched in September 2022 as an innovative approach to integrate healthcare and blockchain to offer users pharma-related services.

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