The quantity of XRP locked in Automated Market Maker (AMM) pools underwent an astounding rise, rising by over 15% in a single day, causing the XRP Ledger to observe a significant surge in activity. Since these pools first opened less than a month ago, this spike is the largest daily increase.
The amount of tokens trapped in AMM pools—which help decentralised exchanges provide liquidity—rose from 2.41 million to about 2.77 million XRP over night. Notably, 353 pools account for the majority of this volume rise, and that number is increasing daily.
With an astounding 621,222 XRP locked, Sologenic’s token pool, SOLO, leads the field. The USDC stablecoin pool, at 511,672 XRP, is just behind. Remarkably, the 302,135 XRP in the third-largest pool includes XRPS, which are created by matching inscriptions and are only available on Ripple’s DEX.
The spike in XRP locked in AMM pools highlights the increasing interest and involvement of the XRP community in decentralised exchanges. Smart contract-powered automated market makers play a critical role in facilitating smooth asset swaps and supplying liquidity at exchange rates specified by mathematical calculations.
The increase of XRP locked in AMM pools is a symptom of a developing decentralised financial ecosystem within the XRP Ledger, as well as investor trust.
The use of AMM pools is anticipated to be vital in enabling effective and decentralised trading methods for XRP and other ecosystem assets, such as SOLO, as the XRPL ecosystem develops and innovates.
