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XRP Network Just Had Largest Amount of Unique Addresses Interacting on It in 2.5 Years

Wed, 07/27/2022 - 10:46
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Gamza Khanzadaev
Number of unique addresses set 2.5-year record in just four hours
XRP Network Just Had Largest Amount of Unique Addresses Interacting on It in 2.5 Years
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The XRP network saw an incredible influx of unique addresses late on the evening of July 26, according to Santiment's on-chain analytics. The number of unique addresses interacting on the network was 243,000 at the time, a record for the last 2.5 years, since February 2020. Santiment also notes that the spike in activity occurred within a short period of four hours. It is also important that this increase in activity does not correlate with the price of XRP but rather occurred against a background of falling prices in recent days.

This is not the first recent anomaly on the XRP network. Last Friday there was also an enormous surge in trading volumes of XRP. Then the figure reached 18.6 million XRP in the last hours of the day, which is about 1,200% more than the standard figure.

Should we expect delightful surprises from XRP?

Lately, the XRP news backdrop has consisted of either events surrounding Ripple's lawsuit against the SEC or abnormal spikes in XRP network activity and strange multi-million dollar transactions between Ripple's various ODLs.

Touching on the topic of distilling millions of XRP between Bitstamp and Bitso exchanges and unknown wallets again, Ripple ended up delighting us with a major partnership announcement with Singapore's leading service, FOMO Pay.

If the current spike in activity is also a harbinger of some major Ripple or XRPL partnership, then such observations can be safely included in sources of information about what the future holds for XRP.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.