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.
PANews reported on August 3 that according to Cointelegraph, Ripple released its second quarter XRP market report, which showed that the transaction activity on the XRP Ledger (XRPL) chain decreased by 65.6% quarter-over-quarter to about 86.38 million transactions, compared to 251.39 million transactions in the first quarter of 2023. As transaction activity decreased, the cost per transaction surged 168% to 0.00394 XRP per transaction. Ripple explained that this cost increases with network load in order to protect the P2P network from spam. The number of new wallets added decreased by 45.8% quarter-over-quarter to 100,746.
