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- On-chain analytics firm Santiment has reported a significant growth in nonempty XRP wallets over the past six months.
- The number of nonempty wallets holding XRP has surged to an impressive 5.2 million, marking a 7% growth.
- Ripple CEO Brad Garlinghouse has expressed excitement over the increase in XRP community-led events, indicating a growing momentum in the XRP ecosystem.
Discover how the number of nonempty XRP wallets has soared to 5.2 million in the past six months, indicating a surge of new users and investors entering the XRP ecosystem.
Nonempty XRP Wallets Experience Unprecedented Growth
According to a recent tweet by on-chain analytics firm Santiment, the number of nonempty wallets holding XRP has seen a remarkable growth over the past six months. The number has soared to an astounding 5.2 million, representing a 7% growth. This growth in nonempty wallets suggests an influx of new users and investors entering the XRP ecosystem. As XRP gains traction as a mainstream asset, more people are showing interest in buying and holding XRP tokens, leading to an increase in the number of active wallets.
Ripple CEO Expresses Excitement Over Growing XRP Ecosystem
Ripple CEO Brad Garlinghouse has expressed excitement over the increase in the number of XRP community-led events this year. These include the XRP Gold Coast event in March, as well as the XRP Las Vegas and XRPL apex. Garlinghouse’s excitement about additional native capabilities for projects built on the Ledger signals that momentum is increasing in the XRP ecosystem.
XRP Ledger Sees Surge of Dormant Token Movement
According to Santiment, the XRP Ledger has seen a large movement of dormant tokens at the start of May. The Token Age Consumed metric shows that this is surprisingly similar to the spike in old coins being moved seen on April 13, just before markets tanked and XRP dropped -16% in value. However, this time around, there is an argument that this old coin movement is related to potential buy-the-dip interest from key stakeholders, and prices have been rising somewhat since the May spike. Furthermore, open interest on exchanges has reached a three-week high. On May 2, XRP’s total open interest on exchanges reached $483.4 million, the most since April 13.
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Conclusion
The significant growth in nonempty XRP wallets, the excitement expressed by Ripple’s CEO over the growing XRP ecosystem, and the surge in dormant token movement on the XRP Ledger all indicate a promising future for XRP. As more investors enter the XRP ecosystem and stake their interest in the crypto asset, we can expect to see further growth and development in this space.
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