Key Points:
- XRPL achieves a historic milestone with over 82 million ledgers.
- Integration of XLS-20 fuels exponential growth in native NFTs.
- XRP token sets all-time high in daily trading volumes on U.S. exchanges.
On September 22, 2023, the XRP Ledger (XRPL), which underpins the XRP token, reached a significant milestone by successfully closing its ledger for the 82 millionth time. This accomplishment follows a noteworthy achievement in August when XRPL reached the 81 million ledger mark, showcasing its unwavering dedication to decentralization, speed, scalability, and security.
Blockchain researcher Collin Brown shared this latest triumph on Thursday through his social media platform, declaring, “With over 82 million ledgers successfully closed, the XRPL continues to etch its name in history. The XRPL’s growing presence in the world of NFTs positions it as a formidable competitor to Ethereum, heralding greater adoption of XRP!” Brown proclaimed.
A substantial catalyst driving XRPL’s recent expansion is the integration of the XLS-20 protocol. Introduced less than a year ago in October 2022, the XLS-20 feature has brought about a revolution within XRPL by enabling native non-fungible tokens (NFTs). This feature facilitates the seamless creation, storage, and exchange of NFTs within XRPL accounts. Furthermore, it introduces automated royalty management, streamlining the process, as well as efficient minting and retiring of NFTs.
The advent of XLS-20 has ignited exponential growth within the NFT sphere within the XRPL ecosystem. Since its inception, over 1.9 million NFTs have been minted, with nearly 30,000 accounts now holding 1.6 million NFTs. More than 1.2 million NFTs have changed hands, resulting in an impressive $12.8 million in NFT transactions in a single step. These remarkable statistics underscore XRPL’s burgeoning potential as a formidable contender to Ethereum in the realm of NFTs.
In addition to the XLS-20 feature, XRPL is reportedly planning upgrades to its layer 2 smart contract platform, Evernode. These enhancements aim to bolster the platform’s reliability and sustainability, furthering the adoption and innovation of cryptocurrencies and NFTs.
This week, the XRP token also achieved an all-time high in daily trading volumes on U.S. crypto exchanges. As Ripple continues to make significant strides, particularly in the booming NFT sector, speculation is mounting regarding whether these remarkable achievements can drive XRP’s price to reach the coveted $1 threshold.
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