- To control XRPH supply in light of the increased demand, XRP Healthcare stops token swap.
- The platform intends to blackhole account issuing and prevent new swap features.
Pharma and healthcare-focused blockchain-centric platform XRP Healthcare revealed a calculated decision to suspend its XRP to XRPH token swap function. This choice reflects the increasing interest and usefulness of the token in the healthcare industry and is in reaction to the previously unheard-of demand for XRPH coins.
📢 XRP Healthcare will stop XRP to XRPH Swap Facility, Ensuring Token Scarcity on June 7th. This decision comes in response to the unprecedented demand for XRPH tokens, underscoring the importance of preserving the finite supply📢
Discover why this news is so exciting:… pic.twitter.com/jIDCgNyOQd
— XRP Healthcare (@XRPHealthcare) May 27, 2024
Utility of XRPH Tokens
Using XRPH, the native token of XRP Healthcare, one can buy a variety of healthcare goods and services on the decentralized marketplace of the company. With a 70,708,715 XRPH circulating supply as of the most recent data, the coin was selling for $0.04718, according to CoinMarketCap.
XRP itself, in the meantime, was trading at about $0.5289, down 1.15% in the prior day but still holding a bullish stance after rising 3.17% in the previous seven days.
XRP Healthcare said in a May 27 news release that it will stop offering the new swap feature by June 7 of this year, or as soon as the XRPH Swap facility tokens are used up. With this action, the limited number and availability of XRPH tokens will be preserved and their continuous use across up to 68,000 pharmacies—including large chains like Walmart, CVS, and Walgreens—will be guaranteed.
Control of Supplies Proactively
According to Laban Roomes, Business Development Officer at XRP Healthcare, the supply management techniques used by well-known cryptocurrencies like Ethereum and Bitcoin are the driving force behind their proactive token supply control strategy.
“We are managing our token supply proactively, much like the mechanisms seen in successful cryptocurrencies like Bitcoin and Ethereum, by halting the swap facility,” Roomes said.
“This guarantees our customers profit from a limited amount of XRPH tokens, which are getting harder to come by every day.”
Avoiding More Problems
Apart from halting the token swap ability, XRP Healthcare is also determined to block the issuing account of XRPH in order to stop the token from being issued any more. This move highlights their dedication to upholding the value and rarity of XRPH tokens, therefore promoting a dependable and steady ecosystem for their users.
On the other hand, a previous CNF article emphasized the platform’s enormous effect in Uganda, therefore confirming its expanding reach and power in the worldwide healthcare industry.