Blockchain The computing power of the chain is considered one of the most important advantages in technology. This feature, in a sense, prompts market participants to take advantage of the network and seek profitable opportunities. Ripple recorded important data on this issue.
Scalable blockchains that can support more transactions have seen tremendous expansion. Two exceptions to this expansion were Bitcoin and Ethereum. However Ripple succeeded in surpassing these predecessors in this field.
According to CryptoCompare data, since April 2021, Ripple’s native token XRP has recorded much higher transactions. In June, transactions peaked in the midst of a bearish market.
Bitcoin recorded only 7.52 million transactions in June, while Ethereum recorded much higher at 29.7 million. On the other hand, XRP’s transactions managed to stay much higher than these two competitors, recording 40.3 million transactions.
While Ripple has an increasing transaction count, Bitcoin and Ethereum earned more transaction fees. In April, Ethereum rallied more than half a billion dollars in fees, while in June it fell to $ 200 million. Bitcoin, on the other hand, earned $11.5 million in fees, and XRP was much more distant at $16,142 last month.
Ripple Is Still Not An Investment Asset
All the developments could not prevent XRP’s 40% drop last month, resulting in much cheaper transaction fees. However, according to the charts, XRP cannot be traded as an investment asset due to its market cap reaching an 18-month low.
However, continuing SEC and Ripple Little progress has been made in the case. The latest development is the SEC’s new request to deny or restrict expert opinion. Ripple accepted the petition on a similar condition, and more information is awaited.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.