If Bitcoin stays above $18K over the weekend, what then?
November 22nd 2020
- The number of new account activations on the XRP ledger has hit a 1 year high of 4,224 per day
- The creation of new accounts is linked to the hype surrounding the Flare Networks snapshot
- The number of unique addresses interacting with the XRP network has also hit a 6 month high of 24,408
- XRP continues to exhibit bullish momentum as the Flare Networks snapshot approaches
The digital asset of XRP has had an amazing week in the crypto markets rising from $0.266 levels to a 2020 peak value of $0.498 achieved yesterday, November 21st. This is an 87% increment in value that has also resulted in an increase of activity on the XRP ledger.
According to XRPScan, the XRP ledger also experienced a massive upsurge of new account activations as the remittance coin posted the 2020 peak value mentioned above. Yesterday saw a total of 4,224 new account activations on the XRP ledger as highlighted in the following chart courtesy of XRPScan.com.
XRP Ledger New Activations Linked to the Flare Networks Snapshot
Early yesterday, the team at XRPScan had pointed out the surge in new account activations on the XRP ledger and when the number stood at 3,200. They went on to explain that the surge was due to the hype surrounding the Flare Networks snapshot on December 12th.
New account activations on the XRP Ledger touched 1 year highs at ~3,200 new accounts per day. as the hype around @FlareNetworks Spark distribution builds up and folks rush to claim their FLR tokens.
Unique Addresses On XRP Network Hit 6 Month High
The team at Santiment Feed also captured the increased activity on the XRP network. They pointed out that unique addresses interacting with the network had reached levels last seen in May of this year.
[XRP]‘s price skyrocketed +27% today, and the amount of unique addresses transacting on the $XRP network in a single day (24,408) was the highest output since May 1st.
Summing it up, the increased activity surrounding the XRP ledger is proof of investor interest in the Flare Networks snapshot on December 12th. This interest is the driving force behind XRP‘s impressive performance in the last week as investors accumulate the remittance coin to capitalize on the eventual airdrop of Spark Tokens.