35,799 Unique Wallets: Ripples XRPL Sees Highest Activity in 3 Months
Key Takeaways
- XRP Ledger sees a spike in active wallets, reaching 35,799 in one day, its highest in three months.
- Ripple could follow Amazons path to an IPO, opening doors to significant expansion.
- Recent legal wins for Ripple may clear the way for a public listing.
Ripples XRP Ledger recently witnessed a remarkable surge in active wallets, reaching 35,799 unique wallets making transfers in a single daythe highest count in over three months.
On the same day, 3,858 new wallets were created, a figure that had not been reached in over seven months. These statistics clearly bring out the continuous growth of Ripple and how its blockchain network interests many regardless of the legal challenges faced by the project.
This uptick in activity also coincides with growing speculation about the companys future, particularly its potential IPO. A Ripple IPO has generated some excitement within the blockchain community since this could give it significant capital and legitimacy for its next growth phase.
Ripples Path to an IPO
Business leader Jake Claver recently intimated in an X post that the company might follow the path of Amazons 1997 IPO. He underlined how the previous history can set up Ripple with blockchain and fintech, saying that it is just great to enjoy a highly qualified public listing.
The company has managed to make a name for itself in the market by being able to facilitate faster, cheaper cross-border settlements while currently active in more than 300 financial institutions worldwide by utilizing its native token, XRP.
Although often compared with SWIFT, this potential IPO could see Ripple become one of the front-runners in tokenized assets or DeFi. However, upon Amazons IPO, the company received $54 million to extend into more markets.
Likewise, the companys going public might provide it with the necessary capital to scale operations and tap other industries in blockchain, as evident in the recent acquisition that Ripple just made of Metaco, renamed Ripple Custody.
IPO or Direct Listing: Whats Next?
There are two major routes: going public means an initial public offering or a direct listing for the company. An IPO would mean the issuance of new shares to raise fresh capital with which it can scale faster and attain other markets, be it tokenized securities or simply DeFi.
On the other hand, a direct listing, not involving new shares, could be more attractive to the company, with its highly robust balance sheet holding more than $1.3 billion in cash.
Recent legal victories in the ongoing fight with the SEC may finally clear the way to go public. Much as Amazons IPO legitimized e-commerce, so too could a Ripple public listing do the same for blockchain technology and finance, putting regulators and banks that its a permanent fixture in the industry.
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Read more: https://www.tronweekly.com/35799-wallets-ripple-xrp-ledger-in-3-month/
Text source: TronWeekly
