XRP Ledger Sees Decline in Active Accounts Amid Trading Boom
The XRP Ledger saw a decline in active accounts during Q2 this year compared to last year, but its order-book trading activity increased significantly. The number of daily trades on the ledger's main exchange rose by 79% year-over-year, reaching an average of $3.57 million per day.
The data indicates that while there are fewer active accounts, those still participating in trades are moving almost three times as much XRP as they did a year ago. This translates to approximately $3,200 worth of XRP traded per account daily, up from around $1,070 the previous year.
The trend suggests that trading on the XRP Ledger is becoming increasingly concentrated among fewer accounts, with 81% of decentralized exchange (DEX) activity attributed to order-book trading. This shift may indicate a decrease in retail traders and an increase in institutional participation.