XRP Ledger’s booming activity faces scrutiny as 110 bot wallets dominate RLUSD payments
Photo: CryptoSlate
Just 110 wallets generated 99.6% of RLUSD payments on the XRP Ledger (XRPL) over 30 days, blockchain analytics firm Bitquery found. The wallets executed approximately 7.79 million transactions between Sept. 19 and Oct. 18, transferring just $7,722 worth of Ripple's dollar-backed stablecoin, according to an Oct. 19 investigation . Each payment averaged roughly $0.001, with the funds repeatedly flowing into three collector addresses. The activity accounted for nearly all 7.82 million RLUSD payments recorded during the period, raising questions about how much of the stablecoin's surging transaction count reflects genuine adoption. The impact extended across the wider XRPL. Between Oct.
Source: CryptoSlate
