With a generalized adoption of XRP through the DEFI ecosystem, the total quantity of XRP locked in pools of automated market manufacturer (AMM) reached 14,140,665 XRP on May 2, according to the last data of the chain monitoring company, XRPSCAN.
This marks a notable step for the XRP community, signaling an increase in the supply of liquidity, because the demand for DEFI platforms based on XRP continues to grow significantly.
XRP Liquidity soar
Since investors are increasingly showing the interest in the third largest cryptocurrency according to market capitalization, they continued to pump more funds in the AMM protocols. AMM pools are mechanisms that allow the supply of liquidity on the Dudger XRP Dex.
Data show that the total number of active AMM pools providing XRP liquidity has reached a huge 19,647, a significant increase of more than 45% compared to the 13,422 AMM pools recorded at the start of the year.
Although the reason behind the overvoltage of Locked XRP is not clearly indicated, the Haussier Movement can be attributed to an increase in interest among XRP users to maximize the profits thanks to the costs generated from sticking activities. This shows strong confidence among XRP investors in its future potential and the ability to generate more income for holders.
This impressive growth follows a significant increase in the number of users active on the XRPL network. XRPSCAN data also show that the number of unique addresses making XRP transactions has remained greater than 20,000, the total number of transactions executed in one day exceeding 1,624,697.
This reflects an increased interest and use of XRP while the blockchain continues to add new public services, stimulating its adoption towards the attractiveness of consumer call.
This impressive push coincides with the notable developments of the XRP ecosystem, fueling a change in market feeling and a renewal of interest among retail and institutional investors.
In the midst of the multiple bullies projected by the Altcoin Leader, its recent price movement has also triggered optimism among investors at a period like this which is considered an emerging bull market.
Coinmarketcap data show that XRP has exchanged last week despite mixed signals. As such, it has increased decently by 0.90% in the last seven days and is now $ 2.21 from press time.
