XRP Ledger (XRPL) recently reached a major milestone when the amount of XRP locked in automated market maker (AMM) pools surpassed 10 million, according to XRP Scan. While the current total has decreased slightly to 9.6 million XRP, this development marks a big moment for the XRPL ecosystem.
XRP Ledger (XRPL) recently reached a major milestone when the amount of XRP locked in automated market maker (AMM) pools surpassed 10 million, according to XRP Scan. While the current total has slightly decreased to 9.6 million XRP, this development marks a big moment for the XRPL ecosystem.
Since its launch in late March, AMM pools have grown significantly, with the amount of XRP locked increasing from 325,983 tokens to nearly 10 million. These tokens are distributed across 593 pools, and new pools are added periodically.
Gamza Khanzadaev
Leading the pack is the Magnetic Token Group (MAG), which has 3,602,530 XRP locked. Close behind is the xGO pool, which contains 921,270 XRP. Interestingly, the third largest pool, with 651,269 XRP, is associated with CRYPTO, a locked account that cannot sign transactions or issue new tokens.
The rise of XRP locked in AMM pools reflects a growing interest in decentralized exchanges within the community. Powered by smart contracts, AMMs play a critical role in providing liquidity and enabling seamless exchange of assets based on mathematical formulas.
Gamza KhanzadaevThis milestone demonstrates strong investor confidence and underlines the growing decentralized financial ecosystem on XRP Ledger. As XRPL continues to evolve and innovate, the use of AMM pools is expected to support efficient and decentralized trading mechanisms for XRP and other assets like Magnetic.
