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XRP 2020 - Quarter 2

Q2 saw a continuation of the XRPL trends from Q1 with ledgers closed, transactions sent, and offers created consistent with those from the last quarter (daily averages differing by -1%, -6.9%, and 4.5% respectively). The average number of payments saw a more significant change, declining from 115,975.70 per day to 65,783.23 (-43.27%), though an above-average payment volume early on in the January timeframe skewed the averages from that quarter. This was likely a continuation of the excessive transaction activity that we noted from last fall/winter, as once this tapered off, payment volume adhered to a consistent / bound range. The number of accounts created saw a nice uptick in Q2, increasing from an average of 695.41 per day to 905.97 (30%).

As with other reports we start with the most stable metric, ledgers closed. In the months of April, May, and June, 2,024,347 total ledgers were closed with a weekly average of 155,511.25 ledgers and a daily average of 22,492.74.

Click on an image to expand

The network saw 84,666,157 total transactions last quarter with a daily average of 940,735.08 transactions and a weekly average of 6,549,072.25. The standard deviation from the daily average was 74,690.86 transactions, or 7.94%. Overall this was one of the most consistent metrics that we collect with transactions being issued to the network at a constant rate with low variance for the entire quarter, as seen in the charts below:

102,148.65 XRP was burnt in fees during the quarter, with a daily average of 1,134.99 XRP and a weekly average of 8,227.53. Some anomalous transactions throughout the the quarter resulted in very large spikes in fees paid. The median burn rate was 5,094.96 XRP per week and 625.03 XRP per day.

Fees in these charts are in drops or one-millionth of an XRP

As far as specific transaction types:

  • 5,920,491 total payments
  • Payment averages: 448,789.42 (weekly), 65,783.23 (daily)
  • Daily payment standard deviation: 19,822.76 (30%)
  • 64,155,972 total offers
  • Offer averages: 4,966,021.58 (weekly), 712,844.13 (daily)

The network saw 81,538 new accounts last quarter, at an average rate of 6,298.58 per week and 905.98 per day. Approximately one account was created every 25 ledgers.

Finally the following is a list of some interesting articles & news stories from our partner site XRP Arcade:

The complete dataset which was used to generate the metrics above can be found here.