Data from Santiment indicates that the number of new XRP wallets jumped to its highest level in 8 months in just 48 hours, with nearly 21,600 new addresses created during this period.
The last time such a spike occurred, the price of XRP exploded near its all-time high. Although market conditions are quite different at the moment, this spike in new addresses indicates that ecosystem growth is accelerating.
The acquisition of Hidden Road in April paved the way for the launch of Ripple Prime, as it allowed the blockchain project to secure the required licenses to operate lawfully in the U.S.
According to its website, the OTC trading platform has already onboarded 300 institutional customers who will be able to buy and sell cryptos through the Ripple network. In addition, Ripple Prime offers custodian services, access to a stablecoin (RLUSD), and cross-border payments.
Meanwhile, Ripple USD (RLUSD), the network’s native stablecoin, just hit $1 billion in market cap this week, just a year after its launch. This is a key milestone for a token that has rapidly climbed to the 11th spot in the stablecoin market.
