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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/xrp-ledger-surges-in-token-market-value-and-network-activity" rel="noopener noreferrer nofollow">XRP Ledger Surges in Token Market Value and Network Activity</a><br></p>
<p style="text-align: justify">The fourth quarter of 2023 marked a period of impressive growth for the <a href="https://en.bitcoinhaber.net/xrp-at-a-crossroads-navigating-through-critical-support-and-resistance-levels" rel="noopener noreferrer nofollow">XRP</a> Ledger (XRPL), with a surge in the overall market value of its tokens reported by Messari. The value soared to $169 million, a 47% increase from the previous quarter, highlighting a burgeoning interest in the blockchain’s offerings.</p>
<h2 id="solo-token-dominates-xrpl-s-market-value">SOLO Token Dominates XRPL’s Market Value</h2>
<p style="text-align: justify">SOLO, despite XRPL hosting an array of over 3,300 different assets, took the spotlight by comprising 45% of the total market value. The three leading tokens together held a 67% share of the market value, demonstrating the concentration of investments.</p>
<p style="text-align: justify">XRP, the native cryptocurrency of XRPL, retained its status as the sixth-largest by market value at $33.7 billion. It experienced noteworthy growth, with a 21.2% increase in circulating market value over the last quarter, and an impressive 93.6% rise year-over-year.</p>
<p style="text-align: justify">The distribution of 4 billion XRP, which amounted to 8% of the ending supply in 2022, played a part in market value growth. However, Messari’s analysis attributes the primary impetus for the increase to substantial price rises.</p>
<h2 id="varied-network-activity-and-nft-minting-skyrocket">Varied Network Activity and NFT Minting Skyrocket</h2>
<p style="text-align: justify">Network activity on XRPL during the same period showed contrasting trends, with active wallet addresses declining by 31.3%, while transaction volume grew by 22.7%. Notably, a large portion of this activity involved a small group of accounts transacting predominantly with one account, suggesting a high degree of concentration.</p>
<p style="text-align: justify">NFT minting on XRPL saw an unexpected boom, with a 491% jump from the last quarter, resulting in a 170% uptick in NFT transactions. The fourth quarter alone witnessed 3.4 million NFT mints, over half the total mints since the XLS-20 standard’s inception in 2022. Adding to the XRPL ecosystem, validators of its EVM sidechain will now receive payment in XRP, as announced by Ferran Prat Tio, CEO of Peersyst Technology, signifying a closer integration of the sidechain and the main XRPL.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/xrp-ledger-surges-in-token-market-value-and-network-activity" rel="noopener noreferrer nofollow">XRP Ledger Surges in Token Market Value and Network Activity</a></h5>

XRP Ledger Surges in Token Market Value and Network Activity

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