- Ripple announces new partnerships that could help boost growth in NFT market
- However, the popular NFT has not performed well in recent days.
Despite Ripple’s ongoing legal battle, the company continued to show improvement and approached performance from an NFT perspective.
recently publication The XRP Ledger, created by Ripple, is said to have worked with the Eternity chain to increase its presence in the NFT space. This update could help Ripple grow in his NFT market.
At the time of writing, ripplepopular NFTs such as XPUNKS When blockchain backer, Performance was poor. Over the past seven days, the lowest prices for these collections have fallen by 0.54% and 51%, respectively, according to data provided by. onXRP.com
This new collaboration could help Ripple’s NFT market.
Even with high-end NFTs, ripple While the network showed no improvement, Ripple observed positive growth in other areas.
see the data
As you can see from the image below, Ripple’s network growth has seen a big spike. The proliferation of networks means that the number of new addresses that have forwarded networks has decreased. XRP increased for the first time.
However, Ripple’s speed has dropped significantly over the past month, indicating that XRP has moved between various addresses less frequently.
Activity on the Ripple Network
Another factor that suggests a decrease in activity is the deprecation of active addresses on the network every day. As you can see in the image below, along with Ripple’s speed, the number of daily active addresses on the network has also decreased.
daily activities in ripple The network slumped and the number of new accounts activated on the Ripple network continued to grow.
Along with that, we observed an increase in the number of transactions made on the network. XRPSCAN.
However, as the chart below shows, Ripple’s market capitalization dominance continues to decline.
At press time XRP It captured 2.22% of the total crypto market and its market capitalization dominance fell by 7.75%.
Despite declining market capitalization dominance, XRPprices continued to rise.
At the time of writing, XRP is trading at $0.387, an increase of 8.72% over the past 24 hours. According to data from CoinMarketCapHowever, that volume witnessed a 31% depreciation charge during the same period.