3 months ago 2 min read

NFT Trade Volume Exceeds 10M XRP on XRP Ledger

NFT-ripple-xrp ledger-blockchain-ethereum

Only two months following the release of XLS-20, which added capability for NFTs on the blockchain, The XRP Ledger (XRPL) has recorded over 10 million XRP ($3.5 million+) in NFT transaction activity. This accomplishment highlights the rising adoption rate that the NFT scene at XRPL is drawing.

According to statistics from Bithomp, a blockchain explorer for the XRPL network, 69,448 NFTs for a total of 10,240,249 XRP ($3.5M at current pricing) have been sold on the network. In a tweet on Friday, Bithomp praised the accomplishment. Nearly 200K additional XRP sales have been registered since the tweet.

According to recent data, XPUNKS, a small collection of 10K NFTs, has sold the most units of any issuer, with 982 transactions totaling 2.4M XRP. The Ethereum-based Bored Ape Yacht Club (BAYC) collection's XRPL counterpart, Bored Apes XRP Club, is listed second. Up to 1,361 sales totaling 1.5M XRP have been made by The Bored Apes XRP Club.

Additionally, onXRP, the largest NFT marketplace on the blockchain, managed the sale of 21,732 NFTs for 7.4 million XRP. The second-place finisher is xrp.cafe, which sold 2,505 NFTs totaling 445K XRP.

NFT Adoption on XRPL Has Increased

Since the end of October, when native NFT functionality was added to XRPL, supporters of XRP have taken advantage of the feature to mint, purchase, and sell their preferred NFTs, driving up adoption. This surge was previously covered by The Crypto Basic on many occasions. 240K NFTs and 9K collections were indexed by onXRP on November 7—barely a week after the NFT feature became online.

Soon after, the XRP Ledger was supported by Mintable, an Ethereum-based NFT marketplace. With the support, supporters of XRP would be able to use the powerful tools of Mintable to mint, buy, and sell NFTs on XRPL.

Additionally, data from Bithomp early this month showed that users have created over 460K NFTs on XRPL in just one month, with 412K NFTs already in circulation. The statistics showed there were up to 10,000 NFT owners on the network and 269K NFT transfers.

Muhaym Garme
Muhaym Garme
Expert in cryptocurrencies and a journalist with wealth of knowledge in the field, Muhaym has written extensively on everything relevant to the industry, from price research to Blockchain disruption.
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