In November, the total number of transactions executed on the Ripple (XRP) network increased from 43.3 million in October to 53.3 million in November, while the number of new accounts created increased by 11.8% to 237,000. Also, according to Santiment, smart money whales continued their trend of accumulating more supply over the one-year period. At the time of writing, the altcoin price was trading at $0.8377. For details cryptocoin.com keep reading.
Total XRP transactions and account creation increased in November as altcoin price fell
As noted in CryptoCompare’s November 2021 Asset Report, XRP network activity grew even as the altcoin price dropped 10.2% over the month to close at $0.99.
Total transaction fees on the XRP network increased by 149% from October to November to $169,000, while the average transaction fee increased by 108% to $0.32. Notably, the network has seen an increase in transactions per Ledger from 1,972 to 2,501 in November.
Meanwhile, although the number of new accounts created on the XRP network has increased sharply, the number of deleted accounts has also increased. The number of deleted accounts increased by 518% in November compared to 6,431 in October with 39,725 accounts, but the reason is unknown. The report underlines the following:
As addresses with 100 million to 1 billion tokens hold 42.1% of the total supply, XRP assets are heavily concentrated among addresses holding more than 100 million XRP.
Addresses with less than 10,000 XRP only control about 2.82% of the altcoin supply.
However, XRPNetwork has been in a downtrend for a while and is currently trading at around $0.82. On the other hand, smart money whales continued their trend of accumulating more supplies for a year. Addresses (whales) with $1 million to $10 million XRP hold $3.31 billion, including a 6% increase in assets over the last 3 months.
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