XRPL transaction count and trading volumes dip in May slowdown
The post XRPL transaction count and trading volumes dip in May slowdown appeared on BitcoinEthereumNews.com.
XRP Ledger saw an 8.5% decline in monthly transactions for May, with the network recording 50.1 million transactions during the month, slightly below its 54.8 million transactions for April. The decline happened despite the increase in the adoption of the smart contract network. According to the report of XRPL monthly activity from XPMarket, the network still managed to pull more unique active wallets for May despite the lower activity. During the month, 278,362 wallets executed transactions instead of the 252,000 in April. Most of the transactions were related to payments, showing that this has been the network’s primary use case. However, non-fungible tokens (NFTs) and Automated Market Maker (AMM) activity increased, with NFT mints rising to 2.56 million from 1.76 million. XRPL transaction type for May 2025 (Source: XPMarket) Most of the NFT mints and trades happened on XRP Cafe, while other dApps on the network, such as XPMarket and Bidd, also saw some activity. Interestingly, the surge in mints was not an indicator of increased NFT transactions on XRPL because it was matched with increased burns and cancellations, while trading also declined by 8.4%. This shows that users are still experimenting with XRPL’s NFT capabilities by creating and dropping assets. The data also showed an increase in the network AMM activity, with both deposits and withdrawals growing during the month, further confirming that most network users are still testing out its features. 10% of active wallets interacted with dApps in May While the transaction volume for XRPL fell in May and was significantly lower compared to other major smart contract networks such as Ethereum and Solana, the biggest sore point for the network was the interaction with decentralized applications (dApps). According to the report, over 28,000 wallets interacted with any known dApp on the network during the month. This…
Filed under: News - @ June 3, 2025 2:23 pm