Ripple Labs has revealed its fourth quarter 2022 results. The report not only included key data on the company’s direct operations, but also provided an overview of XRPL’s performance. This is a decentralized blockchain ecosystem used by the company.
What kind of data is in the report?
Net XRP sales in the fourth quarter of 2022 were $226.31 million, representing a decrease of 27.15% compared to the third quarter of 2022.
While net sales fell by more than a quarter, total XRP sales via ODL increased by 5.12%. According to the report, this is largely due to increasing demand and adoption of technology, as well as expansion into French, Swedish and African markets through new partnerships.
There was a year-over-year decline in XRPL on-chain activity, but the number of XRP burned for fees fell 30.4% to 101,968. At the same time, the number of new wallets on the XRP Ledger increased dramatically, almost doubling quarter-on-quarter to 228,143.
The EVM side chain
Ripple Labs does not stand still and continues to evolve. For example, the company is focusing on launching the first phase of their EVM sidechain, enabling popular DeFi applications such as Uniswap, Compound and Aave to run on the XRPL.
In addition, there has been a gigantic rise of full NFT functionality on XRPL after the introduction of the XLS-20 standard. Since its implementation, more than 800,000 NFTs have been created and the number of transactions has increased by 410,600, bringing additional volume to the XRP market.