The XRP Ledger (XRPL) ecosystem has seen a major milestone in token issuance, driven by a new trading protocol on the network.
A New Peak in Daily XRPL Token Issuance
Notably, on Oct. 17, 2024, data from Santiment confirmed that the XRPL hit an all-time high (ATH) for the number of tokens issued in a single day, reaching a staggering 213 new tokens. This achievement is nearly three times the previous record set in October 2021. The record-breaking day follows a notable increase in token issuance over the past week, largely fueled by the recently introduced First Ledger platform. Since its launch, First Ledger has made trading and token issuance on the XRPL easier. Over just eight days, the protocol helped create a total of 1,564 new tokens, contributing to the surge in token creation. However, most of these tokens are meme coins.
For context, the previous daily high of 74 tokens, reached on Oct. 28, 2021, occurred during a peak period of interest in XRPL-based assets. Since then, daily token issuance had rarely closed in on 40, with notable spikes such as 31 tokens on July 21, 2022, and 32 tokens on Nov. 24, 2022. The surge in 2024, with 213 tokens issued in one day, dwarfs these earlier numbers.
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