CandleFocus Data Shows 50 Wallets Account for 76% of XRP Ledger Transactions
2024-09-20
Author: Content Editor
Analytics from the XRP Ledger (XRPL) show that just 50 wallets are responsible for a significant number of transactions over a two-week period. The data indicates that wallet activity on the XRPL is highly concentrated, with a few wallets dominating transaction volumes. One wallet alone accounted for 15% of all transactions, and the top 10 wallets were responsible for 58% of transactions. The analysis also revealed that the top five wallets are bots, suggesting that much of the transaction activity is driven by automated trading or service-related transactions. There are concerns about potential centralization within the XRP network, but the analysis argues against this, noting that the top wallets are managed by individuals unaffiliated with Ripple.
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