XRP Ledger Sees Explosive Growth with Record New Accounts
The XRP Ledger recently recorded its highest number of new accounts in one day, surpassing its 30-day average. On September 24, a total of 11,432 new accounts were created on the platform, which is more than three times its usual daily average of around 2,700-3,000.
This surge in account creation coincided with an increase in XRP's price from $1.40 to $1.60, as well as heightened activity among large investors and institutions. However, it's essential to note that new account creation does not necessarily translate to new users, as other factors such as exchange funding and custody migrations can also contribute to spikes.
The upcoming XRPL upgrades, including Batch V1.1 and PermissionDelegationV1_1, may also be contributing to the increase in new accounts. Despite this, it's crucial for investors to remain cautious when interpreting these numbers, as they do not necessarily confirm new users on the platform.