XRP Ledger Tops 5.06B Transactions; Bots Drove August Activity

The XRP Ledger surpassed 5.06 billion validated transactions. Bitquery reported that in August 793 sender accounts generated 75.98 million of the ledger’s 81.56 million transactions, equal to 93.2% of the month’s activity.

Of those 793 accounts, Bitquery classified 767 as machines; those addresses accounted for 92% of August transactions. Twenty-six exchange hot wallets contributed about 1.1% of the month’s traffic.

One address generated nearly 13 million transactions in August, including 12.79 million decentralized-exchange orders. Only 882 of those orders resulted in trades. That single address produced roughly one-sixth of all transactions processed on the ledger during the month.

Across the ledger, Bitquery counted 2,970,922 settled trades from 12,153 accounts in August. Bitquery attributed 39.25 million transactions, or 48.1% of August traffic, to DEX order bots and 18.79 million transactions to dust-spraying accounts. NFT-related automation, check spam and other machine activity added further millions.

Most individual accounts generated little traffic. Nearly half of accounts active in August submitted a single transaction, and 80% sent five or fewer. A lower-frequency filter that excluded dust-level transfers included 89.6% of transacting accounts but captured only 0.8% of the ledger’s transaction volume.

Evernorth’s second-quarter data showed order-book trading volume on XRPL rose 79% year over year, averaging 3.57 million XRP per day. The average number of accounts initiating those trades fell to 1,111 per day from 1,864, raising average volume per trading account to 3,217 XRP from 1,072.

Across XRPL’s decentralized exchange, trading averaged 4.42 million XRP per day with roughly 2,435 accounts trading daily. Evernorth reported average value held on XRPL reached $4.26 billion in the quarter. Balances of the RLUSD stablecoin averaged $539 million, up 642% year over year, and value moved through RLUSD increased 925%.

Daily transacting accounts averaged 16,587 and new accounts averaged 2,783 in the quarter, both down about 25% from the prior year. Evernorth noted its trading figures count swaps involving XRP and exclude trades between two non-XRP assets; excluded transactions made up about 18% of trades and roughly 9% of trade value in the quarter.

The datasets referenced are Bitquery’s August ledger analysis and Evernorth’s second-quarter liquidity report.