A blockchain’s computational power is widely acknowledged to be its major advantage. In a sense, it prompts market participants to take advantage of the network and look for profitable possibilities.
Scalable blockchains that can support more transactions have seen tremendous expansion. The exceptions are Bitcoin and Ethereum, both of which are frontrunners. However, Ripple has surpassed these predecessors in this area.
As per CryptoCompare data, since April 2021, Ripple’s XRP has recorded much higher transactions. In the month of June, the transactions hit the highest mark amidst the bearish market.
Bitcoin saw only 7.52 million transactions for the month of June, while Ethereum registered much higher transactions standing at 29.7 million. However, XRP’s transactions were much higher than these two as it recorded 40.3 million transactions.
Meanwhile, though XRP is seeing an increased transactions, Bitcoin and Ethereum have acquired more transaction fees. In the month of April, Ethereum collected more than half a billion dollars in fees, but got reduced to $200 million in June. On the contrary, Bitcoin had $11.5 million worth of fees and XRP just had $16,142 last month.
Ripple, Still Not An Investment Asset
This shows that XRP has dropped 40% in the last month which makes XRP more feasible in terms of fees.
However, as per the charts, the XRP doesn’t make an investment asset due to its market value which has reached its 18-month low.
However, there has been little progress in the continuing SEC v. Ripple litigation. The latest development is the SEC’s new request to reject or restrict expert opinion. Ripple agreed to the petition on a similar condition, and more information is still awaited.