Maker

DeFi

Impact

Read

<ul> 
 <li>Over 10 million XRP now locked in AMM pools, signalling robust growth in XRPL’s DeFi engagement.</li> 
 <li>Top AMM pools like MAG/XRP and XGO/XRP lead with significant liquidity and trading volumes.</li> 
 <li>Recent peak of 2.27 million XRP locked in 24 hours reflects expanding participation in XRPL’s decentralised finance ecosystem.</li> 
</ul> 
XRPScan has announced a major accomplishment within the decentralised finance (DeFi) sector on the XRP Ledger. The collective XRP quantity held in Automated Market Maker (AMM) pools has exceeded 10 million, hitting 10,084,968 XRP. This significant achievement highlights the increasing involvement and amount of funds in the XRPL’s DeFi platform. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Total XRP pooled in XRPL AMM has crossed 10M XRP: <a href="https://t.co/RR0LsMcvEG">https://t.co/RR0LsMcvEG</a> <a href="https://t.co/cb6CRZnNpx">pic.twitter.com/cb6CRZnNpx</a>— XRPScan (@xrpscan) <a href="https://twitter.com/xrpscan/status/1805239567982686533?ref_src=twsrc%5Etfw">June 24, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Growth and Engagement in XRPL AMM Pools 
The latest data from XRPScan highlights a steady rise in locked XRP since April 1, with a notable surge observed around mid-June.&nbsp; 
Currently, there are 334 assets participating in these AMM pools, involving 317 unique tokens and facilitating 282 XRP pairs across 597 active pools. This growth signifies increasing confidence and participation in the XRPL AMM infrastructure. 
Leading AMM Pools and Their Impact 
An analysis of the top 10 AMM pools underscores their pivotal role in the ecosystem. The MAG/XRP (Magnetic) pool leads with 4,699,174 XRP locked and a 0.999% trading fee, followed by the XGO/XRP (xGO) pool with 931,885 XRP and a 0.985% fee.&nbsp; 
Additional notable pools consist of CRYPTO/XRP holding 756,634 XRP, SOLO/XRP (Sologenic) with 612,899 XRP, and BTC/XRP (Bitstamp) with 436,969 XRP locked. These pools not just boost liquidity but also produce significant trading fees, helping to maintain the ecosystem.&nbsp; 
Developments and Market Insights 
In recent updates, XRPScan reported a peak of 2,272,919 XRP locked in a 24-hour period, underscoring a dynamic growth phase in the XRPL DeFi sector. The number of AMM pools increased from 277 to 316 during this period, with the volume of locked XRP rising significantly.&nbsp; 
As of the latest market snapshot, XRP is trading at $0.4759, with a 24-hour trading volume of $1,064,194,318.05. This reflects recent market trends, showing a slight increase in the short term but a decline over the past week. 
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrpl-unveils-amm-upgrade-amid-surpassing-87m-ledgers/">XRPL Unveils AMM Upgrade Amid Surpassing 87M Ledgers</a></li>
 <li><a href="https://cryptonewsland.com/ripple-cto-unveils-insights-into-liquidity-pools-ahead-of-xrpl-amm-launch/">Ripple CTO Unveils Insights into Liquidity Pools Ahead of XRPL AMM Launch</a></li>
 <li><a href="https://cryptonewsland.com/xrp-ledger-validator-shows-successful-xrp-deployment-in-amm-demo/">XRP Ledger Validator Shows Successful XRP Deployment in AMM Demo</a></li>
 <li><a href="https://cryptonewsland.com/is-xrpl-gearing-up-for-a-major-shift-ripple-cto-weighs-in/">Is XRPL Gearing up for a Major Shift? Ripple CTO Weighs In</a></li>
 <li><a href="https://cryptonewsland.com/xrp-ledgers-automated-market-maker-will-validators-unite-for-activation/">XRP Ledger’s Automated Market Maker: Will Validators Unite for Activation?</a></li>
</ul> 
The post <a href="https://cryptonewsland.com/xrpl-amm-pools-hit-10m-xrp-locked-signals-defi-growth/">XRPL AMM Pools Hit 10M XRP Locked, Signals DeFi Growth</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

XRPL AMM Pools Hit 10M XRP Locked, Signals DeFi Growth

Crypto News Land

Altri articoli pubblicati su 25 giu 2024

MakerDAO and Sherlock team up for historic $1.35M security audit contest

Bitget Proof-of-Reserves (PoR) in June portrays a 46% increase in user assets for Ethereum (ETH)

Blast to Create a Foundation to Help Protocol Governance

Silver-Tongued Crypto Analyst Sees Bitcoin Dip as Prime Buying Opportunity

Skale Network Offers High Throughput and Zero Gas Fees

Pi Network IOU price is stuck as traders wait for more mainnet details

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!