Maker

2024

The XRP Ledger (XRPL) Automated Market Maker (AMM) continues to see significant growth, evidenced by the steady increase in pooled XRP.
Recently, the total amount pooled in the XRPL AMM reached 13 million, a figure <a href="https://x.com/Belisarius2020/status/1831950606292164800" rel="noopener noreferrer nofollow">shared</a> by Bill Morgan, a well-known attorney and crypto advocate. He posted the milestone on X, with a chart demonstrating this consistent upward trend, which began in early 2024 and has continued without major declines.
The AMM feature in the XRPL is part of an evolving ecosystem aimed at improving liquidity and market efficiency. Automatic market makers play a crucial role in decentralized finance (DeFi) by allowing users to pool tokens, facilitating smoother trading operations without requiring traditional intermediaries.
The AMM was a highly anticipated addition to the XRPL ecosystem, with Ripple Chief Technology Officer (CTO) David Schwartz stating he was “<a href="https://timestabloid.com/new-xrp-ledger-xrpl-update-revealed-comes-with-features-anticipated-by-ripple-cto/" rel="noopener noreferrer nofollow">personally excited</a>” for its launch. The AMM function is key to fostering a more decentralized and liquid market for XRP. Morgan’s observation points to positive momentum, indicating a growing interest from participants in pooling their XRP into the system.
<h2 id="strong-potential-reasons-for-the-growing-amm-pools-strong">Potential Reasons for the Growing AMM Pools</h2>
This exponential growth began in May 2024 and has only accelerated, with the curve steepening in recent months. This can be attributed to several factors, including growing confidence in XRP’s use cases and expanding adoption of its underlying ledger technology, especially as the broader cryptocurrency market becomes more stable.
Moreover, this rise suggests that the community backing XRPL’s AMM mechanism is expanding, with more users recognizing the potential of participating in liquidity pools. This creates a positive cycle.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
As more XRP is pooled, liquidity deepens, leading to improved trading conditions for XRP holders and market participants. Such developments could further enhance XRP’s role as a leading asset in the crypto space.
These pooled tokens can now be used for various financial activities, including facilitating decentralized exchanges and swaps, providing yield for liquidity providers, and even offering a way to hedge market exposure. For XRP holders, this also introduces new avenues for participating in the XRPL ecosystem beyond merely holding or trading the token.
In January, Schwartz revealed ways the community can make <a href="https://timestabloid.com/ripple-cto-reveals-how-xrp-holders-can-earn-passive-income-with-xrp/" rel="noopener noreferrer nofollow">passive income</a> through the AMM. The 13 million pooled XRP milestone is a strong vote of confidence from the community in the long-term viability of XRP and its AMM framework.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow" class="broken_link">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/xrp-ledger-hits-major-milestone/" rel="noopener noreferrer nofollow">XRP Ledger Hits Major Milestone&nbsp;</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

XRP Ledger Hits Major Milestone

Table of Contents

Times Tabloid

Other articles published on Sep 7, 2024

Crypto: Ripple’s CEO Officially Supports Kamala Harris!

Mara’s CEO Cites National Security Concern as Russia Mines $3 Billion in Bitcoin

Alamat Besar Bitcoin Terus Serok, Ada Penarikan US$728 Juta BTC dari Bursa

Injective Launches World’s ‘First Ever’ Tokenized Index for BlackRock's BUIDL Fund

Top 5 Crypto Losers of the Week: September 2024

Cardano and Notcoin Investors Race for Stability Amid a Turbulent Market – What’s Their Next Move?

Join our free newsletter for daily crypto updates!