XRP Ledger Hits New Milestone With 5 Million Wallets, XRP Price Rally Imminent?

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XRP Ledger (XRPL) Surpasses 87M Ledger Milestone – Crypto News

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1 year ago

April 1, 2024

Dripp

The XRP Ledger (XRPL) has now completed more than 87 million ledgers. This achievement showcases the ledger’s strong existence and its growing dominance in the blockchain world. The term ledgers in this context mean the unchangeable records of transactions and account balances kept by a distributed network of nodes on the XRPL.

XRP Ledger Surpasses 5 Million Accounts

The current ledger count now impressively stands at 87,012,561, emphasizing the enormity of transactions and activity on the XRPL since it was launched. The milestone is not just a number, but it speaks to the ledger’s ability to process an incredible number of transactions without any sort of problem. In addition, the number of accounts on the XRPL has surpassed five million, amounting to 5,143,547, while the total XRP held in these accounts is 60,379,116,279 XRP. These stats showcase not only the ledger’s wide user profile but also its ability to protect a large quantity of digital assets.

Prospective, the XRP Ledger is growing and developing. Having additional improvements and upgrade plans on the roadmap, the ledger seeks to stay ahead of the competition in the blockchain area. The dedication to grow and change with the needs of the digital economy makes XRPL a growth engine.

Over 6 Million NFTs Minted on XRPL

The previous month saw the successful activation of the Automated Market Maker (AMM) amendment, XLS-30, on the XRP Ledger mainnet. This native function, which has run for more than two years, seeks to increase on-chain liquidity and give trading ability to DeFi developers and users. This amendment launch shows XRPL’s commitment to meeting the changing needs of the decentralized finance (DeFi) sector.

Nevertheless, it has been a tough process. A bug in an AMM functionality was found not long after the launch of the feature. The XRPL community quickly fixed the problem, and the AMM bug fix was released in version 2.1.1 of the XRPL software Rippled. Having a consensus of more than 80% to activation, the amendment will be implemented on April 11. This quick reply, in turn, shows the communities’ poverty in order to maintain a secure and quality environment.

The XRP Ledger has experienced considerable growth in the domain of non-fungible tokens (NFTs), with a total of 6,492,852 NFTs minted so far, as per Bithomp Explorer data. The move into NFTs demonstrates the capacity of XRPL to respond flexibly to the trends and requirements of the digital asset market. NFTs are enjoying popularity for now, and XRPL’s support for these assets makes its lure stronger for a wider market.