On April 27, Ripple released Q1 2023 XRP Markets Report.
On April 27, Ripple released detailed Q1 2023 XRP Markets Report. The main points were:
Total XRP sales by Ripple in Q1 2023, net of purchases, were $361.06M v. $226.31M the previous quarter.
XRP Ledger on-chain activity remained strong, with decentralized exchange volumes increasing 34% to $115M in Q1 2023 versus Q4 2022. XRP Average Daily Volume (ADV) on centralized exchanges jumped 46% in Q1 to $1B from $698M.
The EU, UK and UAE proposed new regulatory regimes for crypto focused on licensing and activity-based frameworks.
Developers proposed a new interoperability standard (XLS-38d) for the XRP Ledger that would enable users to transfer digital assets and data between blockchains regardless of underlying protocol or programming language. The proposed standard will enable users to transfer digital assets and data between blockchains, regardless of their underlying protocols or programming languages. It would allow tokens from one blockchain to be locked in an account on the XRP Ledger, while an equivalent amount of tokens is issued on another blockchain – increasing the use cases and adoption of the XRP Ledger.
Sidechains and the Automated Market Maker (AMM) amendment are coming to a close and soon to undergo 3rd party security reviews. The research team also released a spec for native support of Decentralized Identity (XLS-40d) for community review.