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XRP AMM Pools Hit 10 Million XRP Mark, Reflecting DeFi Growth

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XRP's 20% Surge: Legal Wins, Market Activity and Future Outlook

XRPScan, an XRP Ledger Explorer and network analysis platform, has reported a significant milestone for the XRP Ledger’s Automated Market Maker (AMM) pools. The total amount of XRP locked within these pools has crossed the 10 million mark, reaching 10,084,968 XRP. Consequently, this milestone highlights the growing engagement and liquidity within the XRP Ledger’s DeFi ecosystem.

Breakdown of Assets, Tokens And Pools

As of the latest update, 334 assets are involved in the AMM pools, with 317 unique tokens and 282 XRP pairs. Notably, the number of active pools stands at 597. According to XRPScan, the chart illustrates a steady increase in the amount of XRP locked since April 1, with a notable surge around mid-June. Consequently, this trend reflects the rising participation and confidence in the XRPL AMM infrastructure.

Related article: XRP to Skyrocket? Game Designer Foresees $250 Milestone

A detailed analysis of the top 10 AMM pools in the XRP market reveals significant locked XRP and trading fees. The MAG/XRP (Magnetic) pool leads with 4,699,174 XRP locked, a 0.999% trading fee, and 46,713,149 LP tokens. The XGO/XRP (xGO) pool follows with 931,885 XRP locked and a 0.985% trading fee. The CRYPTO/XRP pool has 756,634 XRP locked. Other notable pools include SOLO/XRP (Sologenic), with 612,899 XRP locked, and BTC/XRP (Bitstamp), with 436,969 XRP locked.

Recent Developments in XRPL DeFi Sector

In a recent update on April 17, The Crypto Basic noted a substantial increase in XRP tokens locked within XRPL AMMs, peaking at 2,272,919 XRP in a 24-hour period. At that time, the XRPL DeFi sector saw remarkable growth, with AMM pools increasing from 277 to 316 and the volume of locked XRP rising from 1.8 million to 2.15 million. 

Related article: XRP Trading Volume Soars by 170% Amid Market Turmoil

XRPScan data showed a sharp increase, with the ecosystem hosting 209 total assets, 203 unique tokens, and 184 XRP pairs for trading. Consequently, the active pool count surged to 324, with the total XRP locked exceeding 2.27 million.

Currently, XRP is trading at $0.4759, with a 24-hour trading volume of $1,064,194,318.05. This reflects a 0.96% increase in the last 24 hours but a 3.24% decline over the past seven days.

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