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XRP Healthcare Halts New XRPH Token Staking Amid Supply Crash
In a follow-up to XRP Healthcare’s efforts to address concerns over the XRPH supply crisis, the blockchain-based healthcare platform revealed today that it is halting new staking activities for its token. The company’s move comes as it seeks to preserve XRPH’s finite supply of just 100 million coins and tap into real-world initiatives.
Is XRP Healthcare looking to take concrete action?
As reported in the official press release dated today, July 23, the decision to discontinue the new staking out-related activities reflect the Blockchain-based healthcare company to focus on real-world healthcare business operations rather than just digital token-based activities. However, this also means that users who have already staked XRPH tokens can continue until their term expires. In the meantime, no new staking activities will take place.
The healthcare company is already expanding its presence in Africa, revolutionizing pharmaceutical services nationwide. Furthermore, in light of the company’s token supply crunch, it even shut down the XRP-XRPH swap feature earlier this year.
As revealed by Kain Roomes, CEO and founder of XRP Healthcare, the token issuance account has been further blacked out in an effort to consolidate the supply to 100 million coins. The aforementioned decision to stop staking is an effort to further preserve the token supply.
Even the CEO of XRP Healthcare revealed earlier this month that a major development for the project is already in the works. While not many details were provided about the progress, the news has brought considerable attention to the healthcare company.
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Executives talk about recent decision
XRP Healthcare President Whitney Lynn said, “Our limited token supply, secured through black-holing, underscores our commitment to creating lasting value for our stakeholders. As we shift our focus to real-world applications, particularly in Uganda, we are dedicated to improving healthcare delivery through strategic investments in pharmacies, medical centers, and hospitals.” The president further added that the approach is to strengthen the company’s business models while significantly impacting the global healthcare landscape.
At the same time, Head of Business Development Laban Roomes said that “the discontinuation of new XRPH token staking is a crucial step in ensuring the long-term value and scarcity of our tokens.” The company plans to leverage this decision by focusing on other vital things like mergers and acquisitions, especially in Uganda.
It is also worth mentioning that XRPH cryptocurrency trading at $0.03138 today, down 1.54%. XRPH is the native token of the XRP Healthcare ecosystem, which runs on top of the XRP Ledger (XRPL) layer-1 blockchain. The token was launched in September 2022 as an innovative approach to integrating healthcare and blockchain to offer users pharmaceutical-related services.
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