The XRP Ledger (XRPL) continues to garner attention within the broader crypto scene, having recently crossed the 80 million ledger threshold after a decade.
Adoption on the XRP Ledger (XRPL) has seen an uptick despite the ongoing bear market and the legal tussle between the US SEC and Ripple. While both factors have dampened the growth of XRP, its native token, the XRPL has continued to set new heights, recently closing its 80 millionth ledger after ten and a half years.
The official Twitter account of XRPScan, a leading blockchain explorer for the XRPL, first drew public attention to the milestone. The account expressed gratitude to market participants on the network that made the feat possible.
The XRP Ledger just closed 80 million ledgers (in about 10.5 years). Thank you to all network participants for your contributions. pic.twitter.com/bFgiaTHIXg
— XRPScan (@xrpscan) May 24, 2023
Current data from XRPScan suggests that the network has processed over 60,500 more ledgers since the disclosure. This further demonstrates the blockchain’s impressive speed and efficiency, as well as the promising adoption rate.
Notably, the XRPL crossed the 80 million ledger threshold about 7 months after it hit a total of 75 million ledgers. As disclosed by The Crypto Basic last October, the network crossed the 75 million ledger point on October 11, 2022. The recent development indicates that it has processed over 5 million ledgers in the past 7 months.
Crossing the 80 million ledger mark indicates a significant level of activity and transactional volume on the network. Each ledger represents a unit of work or a block of transactions that has been validated and added to the ledger’s history.
The XRPL Witnessed Growth in Q1 2023
This milestone testifies of the robustness and scalability of the XRP Ledger, as well as the widespread adoption and usage of XRP as a digital asset for transferring value. It also suggests a high level of trust in the security and reliability of the blockchain, as market participants continue to use it for their financial transactions.
Another testament of this growing adoption rate is the total number of XRP addresses on the network. Notably, data provided by Messari, a crypto market intelligence provider, reveals that there are now over 4.7 million XRP addresses. Over 1,000 of these addresses hold XRP worth at least $1 million.
Messari also released a detailed Q1 2023 report of the XRP Ledger last week. The report revealed that the blockchain’s metrics saw a significant growth in the quarter, as The Crypto Basic highlighted. Average daily transaction count on the XRPL surged by 10.7% while the total daily active addresses increased by 13.9% in the first quarter of this year.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
