Reading time: ~ 2 m
In November, the total number of transactions on the $ XRP network increased from 43.3 million in October to 53.3 million in November, and the number of new accounts created increased by 11.8% to 237,000.
The data comes from CryptoCompare’s November 2021 Asset Report, which states that XRP network activity surged despite the cryptocurrency price dropping 10.2% in a month to close at $ 0.99.
The report also states that total transaction fees on the XRP network rose 149% from October to November to $ 169,000, while average transaction fees increased 108% to $ 0.32. Notably, the network also saw an increase in the number of transactions per ledger, from 1,972 to 2,501 in November.
While the number of new accounts being created on the XRP network has skyrocketed, so has the number of account deletions. CryptoCompare reported a 518 percent increase in account closings, with 39,725 accounts removed in November, up from 6,431 in October.
By examining the data along the chain, the cryptoasset aggregator found that XRP stocks are largely concentrated among addresses with over 100 million XRP, as addresses with 100 million to 1 billion tokens have 42.1% of the total supply.
Addresses with less than 10,000 XRP, he adds, control only about 2.82% of the cryptocurrency supply. Former Goldman Sachs executive Raoul Pal explained why he invested in XRP shortly after the US Securities and Exchange Commission (SEC) filed a lawsuit against California-based Ripple over the alleged illegal sale of XRP, claiming that the cryptocurrency had ” use cases “and” phenomenal risk / reward ratio “.
This digital asset has recently been accepted as a payment method by the largest Croatian supermarket chain Konzum. Konzum has over 700 physical stores in Croatia and over 10,000 employees. The first Konzum store was opened in Zagreb in 1957.
#fall #prices #total #number #XRP #transactions #number #created #accounts #increased #November
