XRP Transactions Fall, But Active Wallets And DeFi Liquidity Tell A Different Story

Quick Summary:

XRP Transactions: Decline in NFT Activity And Rise in DEX Volume According to Wenry, XRP’s daily transaction volume has been “competitive with major Layer 1 networks,” showing that XRP’s Ledger remains highly active, even though it is less known to retail investors than other blockchain networks.

In his analysis posted on the CryptoQuant QuickTake platform, Wenry highlighted that between September 15 and October 15, 2023, the creation of new wallets on the XRP Ledger increased by 10.39%, reaching a total of 18,321 new accounts.

This shift suggests that despite a slight decrease in overall trading, more activity occurred on decentralized platforms, demonstrating continued interest in decentralized finance (DeFi) solutions on the XRP Ledger.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: United Kingdom

Topics: Crypto market Ripple Xrpusdt Xrp Cryptoquant Altcoin XRP Market XRP Ledger

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 07:30:56 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 503 words

Reading Time: 3 minutes read

Sentences: 79 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23213573

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