XRP Ledger Q2 Report: AMM Transaction Volume Exceeds US$23 Million, and Average Daily Transaction Volume Drops 67%

Bittime - XRP Ledger (XRPL) continues its steady growth, as evidenced by the recently released Q2 status report from Messari. 

The report highlights significant developments in the ecosystem, including a surge in automated market maker (AMM) activity and the normalization of daily transaction volumes. Read more!

AMM Trading is Growing Rapidly

One of the standout achievements during the second quarter was AMM's impressive performance on XRPL. Since launching in late Q1, AMM has facilitated more than US$23 million in trading volume and accumulated total value locked (TVL) of US$8 million. 

This growth underscores the growing popularity and utility of AMMs in the XRPL ecosystem.

Daily Transactions Return to Baseline 

While the first quarter witnessed a spike in daily transactions due to inscription-related activities, the second quarter witnessed a significant decline. 

Average daily transaction volume fell 67% to 900,000 from 2.8 million in Q1. This normalization reflects a return to more typical levels of activity in the network.

Expanding The Ecosystem with New Stablecoins and Bridge Integrations 

The Q2 report also revealed exciting plans for the future of XRPL. The stablecoin pegged to the US dollar is slated to launch on XRPL and Ethereum, leveraging XRPL's native functionality and the ERC-20 token standard, respectively. 

This new stablecoin is expected to serve as a catalyst for liquidity in AMMs and upcoming real world asset (RWA) projects such as Archax.

Additionally, the integration of the Axelar bridge will improve XRPL's interoperability with other blockchains. This bridge will facilitate seamless asset transfers between XRPL and other networks, potentially attracting new users and capital to the ecosystem.

Rippled 2.2: Major Update

The launch of Rippled 2.2 in June introduced significant amendments that have implications for wrapped and bridged assets. The update includes a price oracle, allowing for more accurate pricing for these assets. 

This feature is expected to improve the efficiency and reliability of transactions involving wrapped and bridged assets on XRPL.

Conclusion

Overall, XRP Ledger's Q2 report paints a positive picture of a rapidly growing ecosystem. The growth of AMM activity, the normalization of daily transactions, and upcoming developments such as new stablecoins and the integration of the Axelar bridge all point to a promising future for XRPL.

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