XRP Ledger Records 1.2 Million Transactions Per Day
• Since the beginning of August 2023, the XRP ledger has recorded 1.2 million transactions per day.
• At the same time, the number of active addresses on the XRP ledger has also surged close to 200,000.
• Ever since the court’s ripple ruling last month in July 2023, the XRP Ledger has witnessed a massive boost in transactions.
Surpasses Ethereum in Transactions
On-chain data shows that the XRP Ledger has been recording 1.2 million transactions per day this month in August, surpassing giants like Ethereum which have recorded 1.09 million transactions every day as per data on BitInfoCharts and Bitcoin which has recorded 300,000 transactions per day on its blockchain. When considering total transaction volume, it’s important to highlight that Bitcoin led the way with over $8.35 billion transacted in July followed by Ethereum witnessing $1.8 billion in transactions and XRP recording movement of nearly $500 million.
Favorable Outcome from SEC Lawsuit
The favorable outcome from SEC lawsuit likely boosted confidence among current XRP holders and drew in new investors leading up to exchanges like Coinbase re-listing the XRP token resulting in a huge surge in transaction volumes and active addresses approaching 200,000 which underscores network’s resilience despite recent price fluctuations and validates asset’s credibility potential for future expansion.
Rising Transaction Volumes
Since then, rising transaction volumes have been seen across both networks – XRPL and Ethereum blockchain – signifying their robust user base and transactional activity even when faced with recent price declines due to increased confidence among current XRP holders and drawing new investors into investing into it or re-listing it on exchanges like Coinbase or other cryptocurrency exchanges if available in different regions around the world while also validating asset’s credibility potential for future expansion too .