Ripple's second quarter report: the number of transactions decreased by 65.6% quarter-over-quarter, and the transaction cost increased by 168% quarter-over-quarter.
According to Cointelegraph, Ripple's Q2 XRP market report shows that the transaction activity on the XRP Ledger (XRPL) chain decreased by 65.6% quarter-over-quarter, to around 86.38 million transactions, while in Q1 2024 it was 251.39 million transactions. As the transaction activity decreased, the cost per transaction surged 168% to 0.00394 XRP per transaction. Ripple explained that this cost increases with the network load to protect the P2P network from spam. The number of new wallets added decreased by 45.8% quarter-over-quarter to 100,746.
