As SWELL quickly approaches we have seen the number of XRP Transactions soar as they are nearing a new ATH. According to the crypto data tracker BitInfoCharts, the number of XRP transactions on the ledger hit 1.63 million on Monday, just short of an all-time high of 1.70 million.
The last time we saw XRP daily transaction this high we were in the famous bull run of January 2018. As we dig further into these transactions, we can see that most of these are IOUs being sent across the ledger. You can view the transactions and figure out where they are being sent by visiting XRPL.org.
The question that comes to everyone’s minds is why? Why are the daily transactions all of a sudden booming? Is a new corridor being tested? Is a central bank taking the system for a test drive? We are not sure at this moment as we still need to gather more data, but we do know one thing – SWELL is going to bring some major news to the community and we should find out about new corridors being opened.
The number of XRP transactions is so great that it has accounted for more than half of all crypto transactions in the last 24 hours.