Data from the XRP Ledger Reveals High Transaction Volume
Data from the XRP Ledger shows that it has been experiencing more than 1.2 million transactions per day since August, surpassing Ethereum’s daily transaction count of 1.09 million. Additionally, both XRP and Ethereum have higher transaction volumes compared to Bitcoin, which sees around 300,000 transactions per day. Despite a decline in daily transactions on the XRP network, it has since recovered and is now a leader in terms of transaction volume in the cryptocurrency space.
XRP’s Market Capitalization and Recent Rulings
- Bitcoin has the highest total transaction volume with over $8.35 billion moved in July, followed by Ethereum with $1.8 billion, and XRP with nearly $500 million.
- XRP’s market capitalization has decreased by almost $10 billion from its peak this year.
- U.S. District Judge Jed Rakoff criticized Judge Analisa Torres’ differentiation between institutional sales and sales to retail investors on cryptocurrency exchanges.
Relisting on Cryptocurrency Exchanges
Following Judge Torres’ ruling, XRP was relisted on various cryptocurrency exchanges, including Coinbase, Kraken, and Gemini. This relisting helped boost XRP’s liquidity and transaction volume.
Hot Take
XRP’s high transaction volume and relisting on major exchanges show its resilience in the cryptocurrency market. Despite recent market fluctuations and legal challenges, XRP continues to be a significant player in terms of transaction volume and liquidity.
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