The $XRP Ledger Hits a 2-Year High Network Activity
The number of unique addresses engaging with the network surpassed 200,000 for the first time since February 2020, marking the greatest level of activity on the $XRP Ledger in more than two years.
The number of active addresses on the network has increased by 685 percent from the previous day, when less than 30,000 addresses connected with the XRP Ledger, according to statistics from on-chain analytics company Santiment.
After that activity explosion, the number of new active entries on the network gradually decreased, however, there have been abrupt activity spikes involving over 50,000 active addresses interacting with the network.
Even as the price of cryptocurrency continues to fall, the XRP network continues to grow. Year-to-date, the cryptocurrency has lost almost 63% of its value, while during the last quarter it has lost slightly more than 25%, narrowly beating BTC, which had its worst quarter in over a decade, and outperforming ETH, which had its first quarter since inception.
Ripple co-founder Jed McCaleb’s account on the XRP Ledger, known as the “-tacostand” account, is likely to be empty within a month since the co-founders’ XRP token sales are continuing, but tokens being distributed are beginning to dwindle.
As reported by CryptoGlobe, McCaleb has sold approximately 500 million XRP coins so far in 2018. McCaleb reportedly began working on Ripple in 2011 and was a founding member of the company when it debuted in 2013. While he departed in 2014 to work on Stellar (XLM), he was granted 8 billion XRP coins for his role in creating OpenCoin, which was renamed, Ripple.
The entrepreneur gets the cash on a predetermined timetable and has indicated through XRP Talk, a platform for XRP investors and advocates, that he intends to sell them. Since that time, he has occasionally sold XRP.