XRP Accounts Contributing to Over 50% of Crypto Transactions

Home » XRP Accounts Contributing to Over 50% of Crypto Transactions

The last 24 hours shows the number if XRP accounts transactions skyrocketing through the roof which is close to 1.70 million.

1.6 Million Daily Transactions

According to BitInfoCharts, which is a date tracker of crypto, over 50 percent of the daily cryptocurrency transactions in the last 24 hours have been accounted for by the XRP accounts. The second place has been taken by Ether (ETH), while the third place has been shared by both Bitcoin (BTC) and Bitcoin SV (BSV).

This has come as a surprise because the last time that the daily transactions of XRP accounts were this high was in December 2017 during the famous bull run in the crypto markets. About 730,000 daily transactions was processed by XRP in October 21st and eight days later saw the third most popular crypto recording about 1.6 million transactions daily. That number is calculated to be more than 100% increase in less than one week. After such a hike, XRP has now been eyeing high daily transactions.

However, it is not clear as to what exactly is causing this daily transaction boost, but it is speculated that this is going to run wild than how it is now. The upcoming event of Ripple in the next coming month can be one of the reasons causing this boom in daily transactions. Another reason could be the partnership of Ripple with Moneygram payment service which is now exploring new ways on how they can use XRP.

It is speculated that something may be happening behind the scenes because the cryptocurrency is about to break the daily transactions of 1.7 million which is quite huge. In the last 24 hours, XRP has seen a gain of 1.6% and is currently trading at about $0.302. In October 26th altcoin saw a hike in price point in just over a week, since in October 23rd it saw a weekly low of $0.262.

The Blockchain Association Takes in Ripple

Ripple which is a san Francisco-based startup gave an announcement that it was joining the Blockchain Association in October. The joining of the association is seen as a beneficial move since Ripple will be in contact with plenty of lobbyists and regulators that are also in the space. Since the Blockchain Association is non-profit organization, it features blockchain advocates and it also helps in promoting the blockchain technology worldwide.

Source: https://cointelegraph.com/news/xrp-accounts-for-over-50-of-all-crypto-transactions-in-last-24-hours

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