- Bitrue relaunched its XRP staking service, boasting the highest APR in the market at 6.8%
- The company believes the revitalized product would help beginner investors ride out the bearish market.
XRP has struggled to maintain its value above the $2 mark after a series of marketwide liquidations totaling billions of dollars since the first half of October. Its candlewick on the charts notably touched the $1.83 mark temporarily heading into the weekend, fueling worries of further corrections.
Despite the state of uncertainty in the market, institutions appear unwavering in their commitment to the asset, especially given its utility for cross-border payments, wealth preservation, and revenue generation. Bitrue, a leading cryptocurrency exchange headquartered in Seychelles, has recently relaunched its XRP staking offer, allowing investors to capitalize on ongoing market dips and exponentially grow their holdings of the token along the way.
Bitrue’s Relaunched XRP Investment Offer
Bitrue announced an XRP staking feature in its Power Piggy platform last week. The program builds upon the same flexible XRP staking service the company introduced in 2019.
The new offering stands out from competitors due to its 6.8% annual percentage rate (APR). Bitrue explained that it tailored the product especially for beginner investors. It incentivizes their bold move to enter a position in XRP amid the bearish sentiment gripping the market.
To date, the Crypto Fear & Greed Index has remained in the “Extreme Fear” territory, with a score of 13 out of 100. The figures are up two points from Saturday and three points from the previous week.
The readings reflect that investors are too worried to engage in the crypto market. On the other hand, it presents a buying opportunity for retail and institutional investors with high risk tolerance.
Adam O’Neill, Chief Marketing Officer at Bitrue, claimed that multi-year crypto veterans are already well aware that market drawdowns are merely part of a broader cycle. However, the extreme volatilities are a tough environment for new users.
O’Neill stated that Bitrue’s revitalized XRP product offers investors an avenue to park their assets and gradually increase their token supply through staking yields. He believes it would enable them to offset some of their unrealized losses somehow while passively building up a stack for the next bull run.
Citing the Canary Capital XRP exchange-traded fund’s (ETF) success, with over $59 million in volume upon its rollout, the Bitrue marketing officer said the event was a clear indication of the significant growth in the digital asset’s institutional demand.
Availability of the Offer
The 6.8% APR XRP investment is now available at the Bitrue trading platform. It provides daily interest payouts without locking users out of their investments. The company clarified that customers can withdraw their investments from the XRP-focused product at any time without penalty.
“When evaluating which coins will appreciate the most in an upcoming recovery, we believe XRP will be a strong contender, and we are very happy to help our consumers grow their wealth via this asset,” O’Neill concluded.
