[XRP Ledger experienced explosive growth, AMM TVL surged 51% to 15 million+ XRP in 17 days]
According to the latest report from analytics platform DeXfi, the total locked volume (TVL) of the XRPL automated market maker (AMM) has exceeded 15.4 million XRP. DeXfi mentioned this figure in a post earlier today.
The latest data shows that AMMs on XRPL added another 1.3 million XRP to their locked positions in one day. Furthermore, just four hours after the reveal, AMM added another 200,000 XRP. As of the latest data, TVL reached 15.6 million XRP, equivalent to $7.7 million, locked in various XRPL AMM pools.
On June 3, The Crypto Basic reported that the TVL on XRPL was 10.3 million XRP. 17 days later, this number increased by 5.3 million XRP, a growth of 51.45%. By comparison, it took six weeks to grow from 7.4 million XRP on April 24 to 10.3 million XRP on June 3. The nearly doubling of growth took less than half the time, prompting discussion about the reasons for XRP TVL’s growth.
Neil Hartner, a software engineer at Ripple Payments, pointed out that this week’s TVL growth mainly came from the Magnetic X (MAG) pool. The pool’s TVL is approximately 4.8 million XRP, a 35% increase from the previous day. Additionally, the pool’s annual yield (APY) of 9.58% is slightly lower than its closest competitor, the XGO pool, which has a TVL of 1.8 million XRP.
It’s worth noting that 15.6 million XRP represents the total value of various cryptocurrencies locked in the XRPL AMM, not just XRP. These cryptocurrencies include USDC, Bitcoin (BTC), Sologenic (SOLO), MAG, and USD. According to data from XRP Explorer, there are approximately 7.83 million pure XRP tokens in the AMM pool.
Overall, the rapid growth of XRPL AMM reflects the strong market interest in this technology and platform, especially the high yield and diversified asset portfolio that attracts a large number of investors.
