Decline in XRP Transaction Volume on Blockchain

📆 3/24/2024 3:18 AM
📰 CryptoAmb

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XRP,Blockchain,Transaction Volume

The total value moved in XRP transactions on the blockchain has declined by 65% compared to the previous month. This decline follows a record high in January. Despite an increase in new addresses created, the transaction volume remains low.

With less than ten days till the end of the month, the total value moved in XRP transactions on the open-source and decentralized blockchain has amounted to 12 billion XRP, representing a 65% decline from the 34 billion XRP recorded in February. This decline comes after the network recorded an all-time high of 691 billion XRP in monthly transaction volume in January. attempted hack on cryptocurrency exchange Bitfinex on 14th January to transfer 25.6 billion XRP tokens.

According to data tracked by The Block, the last time XRPL’s monthly transaction volume was less than 12 billion XRP was before 2020.The low transaction volume recorded on XRPL since the beginning of March has occurred despite the uptick in the daily number of new addresses created on the blockchai

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