According to Odaily, Messari has released a report detailing the performance of XRP Ledger in the first quarter of 2024. The report focuses on five key areas.
Firstly, due to the popularity of inscriptions, the volume of payments increased by 350% quarter-on-quarter, reaching 2 million transactions per day. This activity began at the end of the fourth quarter and cooled down at the end of the first quarter.
Secondly, the Automated Market Maker (AMM) was launched at the end of this quarter, and the volume of DEX transactions on the Central Limit Order Book (CLOB) increased by 41% quarter-on-quarter.
Thirdly, the announcement of the launch of a stablecoin pegged to the US dollar was made. This stablecoin will be launched on XRPL and Ethereum, using XRPL's native features and the ERC-20 token standard. New features such as the callback function can help asset issuers maintain compliance.
Fourthly, the integration of Axelar Bridge and the new stablecoin can act as a liquidity catalyst for tokenized assets that are about to be launched by new AMM and RWA projects such as Zioniqx.
Lastly, rippled 2.0 was released in January. It proposed amendments for the cross-chain bridge (XLS-38), DID (XLS-40), and two other amendments for community voting.