Ripple’s native cryptocurrency, XRP, has reached a significant milestone in terms of adoption. Currently, there are close to 5 million accounts on Ripple’s XRPL, with a total of 58.6 million XRP balances held in these wallets. Notably, the integration of an automated market maker (AMM) and a clawback feature to XRPL has been announced. This addition aims to enable trading of digital assets in automated liquidity pools and expand the target audience of DeFi stakeholders. While some speculate that this development may lead to a short-term price increase, CTO David Schwartz believes it will ultimately reduce volatility in the long run.
Shiba Inu, often referred to as the “Dogecoin killer,” has also made significant progress in recent times. The network saw a staggering 530% increase in the total number of newly verified contracts on September 18. Additionally, the number of wallets on Shibarium, Shiba Inu’s layer-2 scaling solution, has surpassed the 1 million mark and currently stands at over 1.24 million. Shibarium, which went live at the end of August, aims to improve transaction speed and lower costs for Shiba Inu users. This advancement has garnered attention and further solidified Shiba Inu’s presence in the crypto space.
Despite the volatility in the market and Bitcoin’s price not reaching its previous peak levels, HODLers remain optimistic about the leading cryptocurrency. The percent supply of BTC last active 3+ years ago has exceeded 40%, setting a new all-time high. This statistic indicates that a significant number of BTC holders have held onto their assets for an extended period, demonstrating faith in the digital asset’s long-term potential. Prominent figures in the crypto sphere, including Robert Kiyosaki, Adam Back, and Tom Lee, have shared their predictions of Bitcoin surpassing the coveted $100K level in the future. These perspectives provide both hope and anticipation for Bitcoin enthusiasts.
With each milestone achieved, these three cryptocurrencies continue to shape the crypto landscape. Ripple’s XRPL integration of an AMM and a clawback feature opens new possibilities for trading and market liquidity. Shiba Inu’s Shibarium further solidifies its presence and competitiveness in the market. Bitcoin, as the leading cryptocurrency, maintains its position as a reliable and trusted asset for long-term investors. While the market remains volatile and susceptible to fluctuations, these developments emphasize the enduring strength and potential of cryptocurrencies. As the crypto ecosystem continues to evolve, it is crucial to stay updated on the latest advancements and trends that shape the industry. By doing so, individuals can make informed decisions and navigate the exciting world of digital assets.