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Driven by expectations of the approval of the Spot ETF, XRP network activity surged by over 1300%.
Gate News bot news, the number of transactions on the XRP Ledger has surged significantly, indicating a renewed interest in the network as discussions about the potential approval of a Spot ETF heat up.
According to blockchain data, its payment throughput increased by more than 1300% in just one day, reaching 4.1 billion XRP, setting a new high in recent months.
Despite XRP's price remaining relatively stable, hovering around $2.30, the on-chain transaction volume has seen such a significant increase. This has once again sparked discussions about the actual utility of XRP, with community users emphasizing the network's ability to support massive transaction loads even in a relatively calm market environment.
Polymarket's data currently shows that users estimate the probability of the XRP Spot ETF approval to be as high as 87%, thanks to the recent progress of other altcoin ETF applications and the optimistic expectations of analysts like Bloomberg's Eric Balchunas.