• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Surge in XRPL Transactions in Q1 2024 According to Ripple’s Report

Surge in XRPL Transactions in Q1 2024 According to Ripple’s Report

user avatar

by Giorgi Kostiuk

2 years ago

According to Ripple's Q1 2024 XRP Markets Report, the volume of transactions on the XRP Ledger (XRPL) increased by more than 100% from Q4 2023 to Q1 2024, while the cost per transaction dropped about 45%.

There was a significant increase in on-chain transaction activity for XRPL during Q1 2024, reaching approximately 251.39 million transactions compared to 121.03 million in Q4 2023. The average cost per transaction decreased to around $0.000856, indicating a reduction of 45%. The report also highlighted the distribution of traded volume across different exchanges, with Binance, Bybit, and Upbit leading the way.

One ongoing point mentioned in the report was the legal dispute between Ripple and the US SEC, which began in December 2020. The SEC alleged that Ripple executives had raised funds through an XRP IPO, which they deemed an unregistered security. Ripple disagreed with the SEC's proposed $2 billion in remedies, asserting that the SEC lacked the authority to demand such remedies without demonstrating harm to any party.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Injective Seeks SEC Approval to Become a Transfer Agent

chest

Injective has filed Form TA1 with the SEC to register as a transfer agent, aiming to support regulated real-world asset infrastructure on-chain.

user avatarElias Mukuru

The Critical Role of Transfer Agents in Financial Markets

chest

Transfer agents are crucial for maintaining securities ownership records and facilitating transfers, especially as markets transition to on-chain solutions.

user avatarDiego Alvarez

dYdX Chains v51 Upgrade Enhances Market Flexibility with Smart Contracts

chest

The v51 upgrade of dYdX Chains allows users to launch perpetual markets without governance intervention, enhancing market flexibility.

user avatarKenji Takahashi

Sui's Confidential Transactions Aim for Selective Confidentiality

chest

Sui is exploring a selective confidentiality model for its confidential transactions, allowing sender and recipient addresses to remain visible while hiding amounts and balances, addressing privacy concerns for businesses.

user avatarMaria Fernandez

Uniswap Governance Proposes Fee Routing for UNI Token Burns

chest

Uniswap governance is reviewing a proposal to route protocol fees from selected Optimism pools toward UNI token burns, aiming to strengthen the connection between trading activity and token economics.

user avatarGustavo Mendoza

Account Abstraction Set to Transform Crypto User Experience

chest

The introduction of account abstraction aims to address user experience issues in the crypto space, such as intimidating seed phrases and confusing gas fees, with a broader rollout planned for September 2026.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.