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XRP Wallets Have Been Growing at Parabolic Rate Recently, Data Shows
A recent analysis of the cryptocurrency market by Santiment has revealed a staggering increase in the number of holders for four major assets – Bitcoin, Ethereum, Tether, and XRP. The data highlights an unprecedented surge in adoption for all cryptocurrencies, with XRP witnessing a particularly steep rise.
According to the graph provided by Santiment, the Total Amount of Holders for these assets has seen a sharp increase over the past two years. While Bitcoin, Ethereum, and Tether have maintained a relatively consistent uptrend throughout this period, XRP’s chart stands out due to its extraordinary growth rate.
What is striking is that XRP’s holder count began its breakaway phase on October 18th, yet it didn’t start its price rally until mid-November. This suggests that the rapid adoption of the cryptocurrency played a crucial role in creating a solid foundation for its subsequent price increase.
In terms of long-term trends, USDT has seen the most significant adoption, with its Total Amount of Holders increasing by approximately 66% over the past two years. Ethereum and XRP have trailed behind, with growth rates of 47% and 28%, respectively. Bitcoin has only marginally trailed behind, with a modest increase of 27%.
Although XRP’s overall adoption rate is impressive, its network still lags behind its peers, with roughly 5.75 million investors currently holding the cryptocurrency.
In contrast to this rapid growth, the XRP price has recently stagnated, trading at around $2.17 and stuck in sideways movement | Source: XRPUSDT on TradingView
This parabolic increase in wallet adoption highlights the significant surge in interest in these assets, indicating a substantial influx of new users into the cryptocurrency market.
The article was written by Keshav Verma
Source: bitcoinist.com
