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As the need for energy-efficient, low-cost, and fast payments grows, so does the demand for the XRP Ledger.
Santiment, the on-chain metrics provider leading this development, said: “The number of active wallets on the XRP Ledger has surged significantly, reaching 35,799 unique wallets with at least one transfer per day. “This is the highest number in over three months.” Additionally, 3,858 new wallets were created in one day, the highest number in more than seven months. ”
Source: Santiment
Top analytics firm CryptoQuant echoes these sentiments, saying, “XRPL has seen a significant increase in AMM liquidity, with significant increases in AMMDeposit and AMMCreate. Despite the decline in AMMBid, the increase in liquidity deposits has It shows confidence in the pool.”
Source: CryptoQuant
The XRP Ledger, an open source decentralized blockchain network, is gaining momentum thanks to its extremely fast transaction speeds, far exceeding major networks such as Ethereum (ETH) and Bitcoin (BTC).
Therefore, the XRP Ledger becomes a force to be reckoned with in cross-border remittances and transactions.
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Earlier this year, Ripple poured a whopping $10 million into tokenized US Treasury bills on the XRP Ledger. This move was considered strategic as it has the potential to boost the ecosystem’s native coin, XRP.
What does the increase in high-risk loans in the virtual currency market mean?
As address activity on the XRP Ledger network increases, so do high-risk cryptocurrency loans.
High-risk loans have skyrocketed since reaching the $5 million level, a scenario last seen in June 2022, according to IntoTheBlock data.
Source: Into the Block
This therefore signals an intensification of borrowing in the crypto sector and could indicate an increased demand for leverage as traders do everything in their power to expand their expected returns.
This indicates that investors expect the cryptocurrency price to rise as the loan is subsequently repaid. Additionally, high-risk crypto loans indicate heightened speculative market sentiment.
