The activity on the XRPL Network has been high over the last few days. This can be observed by using the NVT Ratio, which is the ratio between Network Value and Transaction Volume.
NVT Ratio = Market Capitalization / On-chain Transaction Volume (Daily)
The metric spiked on several days during the period, with the most recent spike on November 2nd, when the NVT Ratio reached 1,162.
Given that the NVT Ratio is a calculation between Market Capitalization (which is stable around $51.1B) and On-chain Transaction Volume, this spike reflects higher transaction volume. On November 2nd, the On-chain Transaction Volume spiked to over $44.0M, indicating significant transfer activity on the XRP Ledger.
Written by maartunn
