XRPL has recorded the biggest spike in the number of active wallets in three months
In fact, the number of unique active wallets with at least one transaction per day has spiked to the highest level in three months, reaching 35,799 unique wallets.
Notably, the XRP Ledger has also recorded the biggest number of newly created wallet within a single day since March 14. Shiba Inu Crucial 20% Spike: New Bull Run? Ethereum Forming Cursed Pattern, Solana Faces Critical Resistance LevelThat said, the XRP cryptocurrency recently appeared in the spotlight due to the SEC's appeal in the Ripple case.
The seventh-biggest cryptocurrency is currently changing hands at $0.54 after adding 1.1% over the past 24 hours. The recent uptick in wallet activity is yet to translate into a corresponding price increase. The lion's share of activity on the XRP Ledger is driven by a few major actors. that only 10 wallets make up a whopping 58% of all transactions on the XRP Ledger. In fact, a single wallet accounts for a 15% share of all transactions.
However, he noted that this data should not be necessarily be used to support some oft-repeated centralization arguments against Ripple since some of the major wallets are not related to the company. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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