- Over 10 million XRP now locked in AMM pools, signalling robust growth in XRPL’s DeFi engagement.
- Top AMM pools like MAG/XRP and XGO/XRP lead with significant liquidity and trading volumes.
- Recent peak of 2.27 million XRP locked in 24 hours reflects expanding participation in XRPL’s decentralised finance ecosystem.
XRPScan has announced a major accomplishment within the decentralised finance (DeFi) sector on the XRP Ledger. The collective XRP quantity held in Automated Market Maker (AMM) pools has exceeded 10 million, hitting 10,084,968 XRP. This significant achievement highlights the increasing involvement and amount of funds in the XRPL’s DeFi platform.
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Growth and Engagement in XRPL AMM Pools
The latest data from XRPScan highlights a steady rise in locked XRP since April 1, with a notable surge observed around mid-June.
Currently, there are 334 assets participating in these AMM pools, involving 317 unique tokens and facilitating 282 XRP pairs across 597 active pools. This growth signifies increasing confidence and participation in the XRPL AMM infrastructure.
Leading AMM Pools and Their Impact
An analysis of the top 10 AMM pools underscores their pivotal role in the ecosystem. The MAG/XRP (Magnetic) pool leads with 4,699,174 XRP locked and a 0.999% trading fee, followed by the XGO/XRP (xGO) pool with 931,885 XRP and a 0.985% fee.
Additional notable pools consist of CRYPTO/XRP holding 756,634 XRP, SOLO/XRP (Sologenic) with 612,899 XRP, and BTC/XRP (Bitstamp) with 436,969 XRP locked. These pools not just boost liquidity but also produce significant trading fees, helping to maintain the ecosystem.
Developments and Market Insights
In recent updates, XRPScan reported a peak of 2,272,919 XRP locked in a 24-hour period, underscoring a dynamic growth phase in the XRPL DeFi sector. The number of AMM pools increased from 277 to 316 during this period, with the volume of locked XRP rising significantly.
As of the latest market snapshot, XRP is trading at $0.4759, with a 24-hour trading volume of $1,064,194,318.05. This reflects recent market trends, showing a slight increase in the short term but a decline over the past week.
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