CryptoQuant CEO Ki Young Ju claims that Rippleās acquisition of Circle would give $XRP a significant advantage.
According to Ki Young Ju, CEO of blockchain data analytics company CryptoQuant, if Ripple were to acquire Circle, the company behind USDC, as rumored, it would be a very positive development for #xrp . Ju suggested that XRP could thus attract a significant portion of the interest in the stablecoin market.
āXRP gives me the āpro leagueā vibe in the capital markets,ā said the CryptoQuant CEO, noting that there are many investors eager to invest in the future of stablecoins, and commented, āThese investors who are waiting for Circleās IPO may change course to XRP if such an acquisition takes place.ā Ju added that he does not have an XRP investment.
Bloomberg reported late last month that Ripple had made an offer of $4 billion to $5 billion to buy Circle, which Circle rejected as too little. While talks are reportedly still ongoing, it has been claimed that another company is interested in buying Circle, and that this company is the US-based cryptocurrency exchange Coinbase.
Ripple also recently acquired brokerage firm Hidden Road for $1.25 billion. Coinbase recently acquired crypto options exchange Deribit for $2.9 billion.
Circleās USDC is the second largest stablecoin after USDT, with a circulating supply of $60 billion.
