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XRP Price Muted as New Yield-Generation Product Launches
Source: CryptoNewsNet Original Title: XRP price reaction muted even as new income-generation opportunity appears Original Link: Payments-focused cryptocurrency XRP is little changed in 24 hours, in line with the broader crypto market, even after the introduction of a new product that allows holders to earn extra money without selling their tokens.
On Tuesday, Upshift, Clearstar and Flare unveiled earnXRP, a vault designed to make it easier for XRP holders to generate returns on top of their spot market holdings. The new offering helps XRP holders bypass the complexities of managing DeFi strategies and pays out yield denominated in XRP.
Upshift is a platform dedicated to providing toolkits to protocols and wallets to develop DeFi earn vaults. Clearstar is an on-chain risk curator that designs institutional-grade DeFi vaults and Flare is a layer 1 blockchain designed for data intensive use cases. Fintech firm Ripple uses XRP to facilitate cross-border transactions.