u.today
The $XRP Ledger (XRPL) has some hidden metrics that many investors hardly pay attention to. According to data from $XRP Ledger Services, the layer-1 network boasts 60,878,621,751 $XRP locked in users’ accounts. This is a significant holding, considering that the total $XRP supply is 99,987,181,197 $XRP.
$XRP Ledger core metrics worth watching
As a high-performing protocol, $XRP Ledger has a total user count of 5,294,740. This is a significant milestone for the protocol, showcasing its broader reach beyond the primary Ripple Labs ecosystem.
In addition to the user count, 90,337,507 ledgers have been closed on the network already, a testament to the protocol's functionalities since its inception.
$XRP Ledger also boasts a total of 39,108,559,446 $XRP locked in escrow. This is important as it underscores the backing liquidity for transactions that go on-chain. These escrow funds also cement trust in $XRP Ledger smart contracts, a crucial ideal boosting innovations on the protocol like the Automated Market Maker (AMM).
Notably, the Ripple-backed protocol has matched its counterpart in transactions, but more are expected soon.
$RLUSD Stablecoin to make the difference
One unique feature of most public blockchains is the presence of a stablecoin that generally powers their liquidity. While $USDT and USDC have launched on Ethereum as a native stablecoin, $XRP Ledger is about to get its token through Ripple Labs.
The blockchain payments firm is in the last stages of the launch of the $USDT rival it dubbed $RLUSD. As reported earlier by U.Today, the firm recently conducted test minting for the proposed stablecoin on the XRPL and the Ethereum blockchain.
Ultimately, the goal is for the $XRP Ledger to operate at a level comparable to its industry counterparts, and the stablecoin may play a key role.