XRPScan, a platform that explores the XRP Ledger and analyzes its network, has announced a major achievement for the Automated Market Maker (AMM) pools on the XRP Ledger. The total amount of XRP locked in these pools has surpassed the 10 million mark, reaching a total of 10,084,968 XRP. This milestone demonstrates the increasing involvement and liquidity within the XRP Ledger’s DeFi ecosystem.
According to the latest update, there are 334 assets involved in the AMM pools, consisting of 317 unique tokens and 282 XRP pairs. The number of active pools currently stands at 597. A chart provided by XRPScan depicts a steady rise in the amount of XRP being locked since April 1, with a significant surge observed in mid-June. This trend indicates the growing participation and confidence in the XRPL AMM infrastructure.
A detailed analysis of the top 10 AMM pools in the XRP market reveals substantial amounts of locked XRP and trading fees. The MAG/XRP (Magnetic) pool leads the way with 4,699,174 XRP locked, a trading fee of 0.999%, and an LP token balance of 46,713,149 LP.
Following closely behind is the XGO/XRP (xGO) pool with 931,885 XRP locked and a trading fee of 0.985%. The CRYPTO/XRP pool holds 756,634 locked XRP. Other noteworthy pools include SOLO/XRP (Sologenic) with 612,899 XRP locked and BTC/XRP (Bitstamp) with 436,969 XRP locked.
In recent developments within the XRPL DeFi sector, a report by Crypto Basic on April 17 highlighted a significant increase in the amount of XRP tokens locked in XRPL AMMs. The number reached its peak at 2,272,919 XRP within a 24-hour period. During this time, the XRPL DeFi sector experienced remarkable growth, with the number of AMM pools increasing from 277 to 316, and the volume of locked XRP rising from 1.8 million to 2.15 million.
According to XRPScan data, the ecosystem hosted a total of 209 assets, 203 unique tokens, and 184 XRP pairs available for trading during this period. The number of active pools also surged to 324, with the total amount of XRP locked exceeding 2.27 million.
As of now, XRP is being traded at $0.4759, with a 24-hour trading volume of $1,064,194,318.05. This represents a 0.96% increase in the last 24 hours, but a 3.24% decline over the past seven days.
Please note that this content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic will not be held responsible for any financial losses incurred.
