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Why the huge spikes in payments and transactions on XPRL?


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I posted about this in the XRapid usage thread but I think it warrants more discussion. We have seen huge spikes in payments and transactions on the XRPL in the last few days. Transactions almost broke the bull run ATH. Modern Investor just said in his video that some are speculating this is Ripple testing the DEX on the XRPL. Apparently XRP transactions accounted for more than 50% of all crypto transactions yesterday or a few days ago. Can we discuss what might be happening here? Here are the relevant charts:

2050930386_Screenshot2019-10-2922_52_56.thumb.png.66fcca0531511ff830c2efdf425825d5.png

1193396623_Screenshot2019-10-2922_52_30.thumb.png.b2fcadfd824321c147a6cb40cb4fa4dd.png

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1 minute ago, Seoulite said:

Any theories as to why this activity has suddenly ramped up?

I have nothing to base this on but it might be testing of some sort. This quarter seems to be filled with utility solutions popping up for the XRPL and it's not all that weird to transfer BTC via the XRPL because it's much better in every way. That's the best theory I can come up with. 

It could also be a spammer, I have no idea to what purpose. Every tx still burns fees. 

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3 minutes ago, Benchmark said:

I have nothing to base this on but it might be testing of some sort.

The TMI video references this article which says:

Quote

The XRP explorer from XRPL.org shows many of the transactions are IOUs being sent across the ledger. The XRP Ledger features a built-in decentralized exchange with an IOU system that’s designed to give people a way to trade any type of asset electronically. The IOU transfers have triggered speculation on Reddit that Ripple or another company is currently giving the feature a test drive.

So you might be right. The fact that this accounted for 50% of all crypto transactions raised my eyebrows. Something is certainly afoot, and I doubt it is spammers. 

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  • 2 months later...
On 10/29/2019 at 5:02 PM, mathesmith said:

Went over to ledger.observer and this is what it looks like:

image.png.33818154b42c7ec38e3180fe72ee7218.png

There was another spike of these sorts of transactions, which Ledger.Observer is associating with rrrrrrrrrrrrrrrrrrrrBZbvji (an early--i.e. spring 2013--account, seemingly now with a link to sologenic?). I'm curious how Ledger.Observer associates this account as the hub of each these transactions because it does not appear on the transaction details.

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