Is XRP the silver lining of a dark cloud of crypto?

0

In the midst of a dark crypto winter, XRP appears to be shining in all its glory, adding a silver lining to the dark crypto cloud.

For many crypto fans, 2022 turned out to be one of the most disastrous years. Following the collapse of the Terra ecosystem, which caused investors to lose millions of dollars, there was a bear market, followed by rising interest rates and inflation.

However, XRP seems to be performing better than other alternative currencies today. Santiment’s On-chain analytics show that as of February 2020, the number of daily unique active addresses on the altcoin network reached its highest level in about 2.5 years.

On June 26, there was a huge increase in the number of active addresses on the network. This happened when active addresses increased by 685% from the previous day, from 29,640 to 202,960 unique addresses. The number of active addresses dropped over the next few days, but this drop was occasionally interrupted by sharp spikes in activity of around 50,000 active addresses, followed by a decrease. The XRP network had an average of 45,000 daily unique addresses at the end of June.

Is XRP fairing better than most altcoins?

Additionally, Santiment noted in a Tweeter that on Thursday, popularly known as “crypto slide day,” XRP showed better performance than the majority of other altcoins. Although the statement is unclear, it contains some truth. By comparing the price history of XRP and ETH, the leading cryptocurrency in the crypto market, we can conclude that this particular altcoin had superior performance, trading at one point 9% higher and closing the day 4% higher.

Although the token managed to rebound at the end of the day and the start of a new session, the altcoin nevertheless saw its value decline against USDT, and its quotes are still lower than what its investors would like. they be. At the time of writing, XRP was priced at $0.313672 with a rise of 1.2% in the last 24 hours.



Source link

Share.

Comments are closed.