The XRP Ledger ecosystem is witnessing unprecedented activity, with key metrics reaching historic peaks. The number of XRP wallets holding at least 1 million tokens, commonly referred to as ‘whale wallets,’ surged past 2,700 in June, marking the highest level observed in the network’s 12-year history. This significant increase signals heightened confidence and accumulation by large-scale investors.
Simultaneously, daily active XRP addresses soared to approximately 295,000, reflecting a substantial uptick in user engagement and transaction volume within the ecosystem. This surge underscores growing utilization of the XRP Ledger for various applications.
The record activity coincides with expanding institutional interest in XRP. Notable developments include the launch of a Canada-based exchange-traded fund (ETF) offering exposure to XRP and the strategic integration of XRP support into the Lace wallet. Furthermore, publicly traded companies like Worksport and VivoPower have publicly adopted XRP as part of their corporate treasury management strategies.
Despite these positive trends in whale accumulation, user activity, and institutional adoption, decentralized finance (DeFi) activity on the XRP Ledger remains comparatively modest. The total value locked (TVL) across XRP Ledger DeFi protocols is currently estimated around $60 million, with decentralized exchange (DEX) volumes also reported to be low.