Ripple’s XRPL Registers Significant Growth in Q1 2023, Thanks to NFTs

2023-4-29 17:00

Network activity on Ripple’s XRP Ledger (XRPL) rose to new highs during the first quarter and was majorly driven by non-fungible tokens (NFTs), according to its Q1 market report.

According to the report, over 1 million NFTs have been minted on the Ledger since the network-enabled support for these digital assets in November 2022.

NFT Trading Gains Popularity on XRPL

The Managing Director of SBI VC Trade, Tomohiko Kondo, corroborated this, adding that the Ledger was among the top 10 chains for NFT volume and transactions.

For context, 3zy data shows over 2000 NFT collections on XRPL with a cumulative volume of over 22 million. The data further indicates that the top collections on the network include XPUNKS, Bored Apes, XRP Clubs, XPECTAR, etc. 

XRPL-based XPUNKS NFTs (Source: 3zy)

Bithomp data further corroborated 3zy’s data.

XRPL Transactions and DEX Volume Increases

Per the report, transactions on XRPL increased by 9% to 116 million during the first quarter, while decentralized exchange volumes rose 34% to $115 million.

Meanwhile, traders on the network burnt 140,900 units of the asset in transaction fees, while the average transaction fees on the network remain negligible at 0.00121XRP.

XRPL On-chain activity (Source: XRP Market Report)

The average daily volume of XRP on centralized exchanges increased by 46% between the fourth quarter of 2022 and the first quarter of 2023 Q1, to $1 billion from $698 million.

Ripple Sold More XRP Than It Bought in Q1

According to the report, Ripple purchased around $2.6 billion of the XRP coin during the first quarter. However, the company also reported selling $2.93 billion XRP to its customers using its “On-Demand Liquidity” (ODL) payment system.

This means the company recorded a positive net sale of $361.06 million, up from $226.31 million in the previous quarter.

XRP Sales (Source: XRP Market Report)

Meanwhile, the crypto company stopped XRP’s purchases for several days due to the U.S. banking crisis in March. It added that the buying activity has since resumed, and the company expects to continue making purchases as ODL adoption grows.

Ripple Expects Summary Judgment on SEC Case in 2023

While Ripple continues to thrive, the SEC case against the company remains unresolved with no specific determination date. The Court issued a 57-page opinion on March 6 that struck out SEC’s expert testimony about the reasonable expectations of XRP buyers.

The crypto payment company expects the Court to issue its summary judgment before the end of 2023.

The post Ripple’s XRPL Registers Significant Growth in Q1 2023, Thanks to NFTs appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ripple (XRP) на Currencies.ru

$ 1.3167 (-0.10%)
Объем 24H $914.215m
Изменеия 24h: -0.03 %, 7d: -2.08 %
Cегодня L: $1.3159 - H: $1.3169
Капитализация $80.855b Rank 5
Цена в час новости $ 0.4808 (173.86%)

ripple growth xrpl thanks nfts significant registers

Источник: beincrypto.com

ripple growth → Результатов: 126


Ripple: Asia-Pacific Remittance Market Seeing Growing Demand And is Ripe for Digitalization

In its latest insight report, Ripple shares the growing demand the Asia-Pacific (APAC) region is seeing. “More remitters than ever are sending money home to their loved ones,” the San Francisco-based company points out adding APAC saw a growth of 12% in remittance flows in 2018, as per World Bank. About 2bln in remittance transactions […]

2020-1-18 22:00


Nordic Growth Market (NGM) Lists Mini Futures Cryptocurrency Contracts Backed by Vontobel

On Thursday, 4th of July 2019, Nordic Growth Market (NGM), a Swedish stock exchange, announced that it has listed Ether-based as well as Bitcoin mini futures. Vontobel, an investment bank, which recently launched tracker certificates on Litecoin, Ether, Bitcoin and Ripple will be backing the derivative products. Per the listing, Tommy Fransson, the deputy chief […]

2019-7-5 21:26


Ripple is Experiencing “Dramatic Growth” in RippleNet’s Transaction Volume and Client Base

Ripple is one firm with a strong penchant for the widespread adoption of cryptocurrency and sometimes via its own XRP. The parent body for the world’s third-largest cryptocurrency is known for its initiatives to support cryptocurrency and blockchain startups and also to deliver solutions to a large number of financial institutions already in their hundreds, […] The post Ripple is Experiencing “Dramatic Growth” in RippleNet’s Transaction Volume and Client Base appeared first on ZyCrypto.

2019-6-12 17:50


XRP Price at $1k is an ‘Insane Valuation’ But $10 is a Walk in the Park for XRP

Ripple’s XRP has been in a tough struggle trying to survive in the market especially in the last few days when the market experienced a fresh dip. While many of its fans believe there is hope of significant price growth for XRP in the future, a Twitter user and XRP supporter himself known as ‘Imperator […] The post XRP Price at $1k is an ‘Insane Valuation’ But $10 is a Walk in the Park for XRP appeared first on ZyCrypto.

2019-4-29 11:19


Ripple увеличил продажи токенов XRP на 31% в первом квартале (обновлено)

Калифорнийский финтех-стартап Ripple опубликовал финансовый отчет по итогам первого квартала 2019 года, в котором говорится о росте продаж токенов XRP на 31% по сравнению с предыдущим кварталом. Так, компания продала токенов на $169,42 млн.

2019-4-25 14:30


Фото:

В Швеции стартовали ETP на базе Ripple и Litecoin

На торговой платформе Nordic Growth Market, которая является шведским подразделением второй по величине фондовой биржи Германии Börse Stuttgart Group, начались торги биржевыми продуктами (ETP) на базе цифровых валют Ripple и Litecoin.

2019-4-4 11:36


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Canary Capital запустила спотовый XRP-ETF

13 ноября на бирже Nasdaq начались торги спотовыми ETF на базе XRP под тикером XRPC. Продукт запустила компания Canary Capital. Заявка на листинг XRPC. Источник: SEC. В четверг Nasdaq официально уведомила Комиссию по ценным бумагам и биржам США (SEC) о получении заявки Canary по форме 8-A.

Мнение: XRP-ETF запустится вслед за фондом на базе Litecoin

Биржевые фонды на базе XRP могут появиться в США в 2025 году, но процесс осложняет судебное разбирательство SEC о том, является ли токен от Ripple ценной бумагой. Такое мнение высказал аналитик Bloomberg Джеймс Сейффарт.

XRP обновил трехлетний максимум в районе $1,7

XRP вырос до $1,6833, обновив максимум начавшегося в ноябре восходящего движения. Последний раз котировки выше текущих значений были в апреле 2021 года, с тех пор актив торговался ниже. Часовой график XRPUSDT биржи Binance.