Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.
    2021
    Best News & Analysis Provider
    FxDailyInfo
    2022
    Best Forex Educational Resources Global
    International Business Magazine

    XRP Ledger prepares for upgrade to allow token holders to earn income on-chain

    Source Fxstreet
    January 25, 2024 11:00
    • XRP Ledger is preparing for an upgrade to introduce a built-in automated market maker trading platform into the ledger. 
    • Validators are currently voting on XRP Ledger’s Automated Market Maker amendment.
    • XRP price nosedived 1% on the day, and declined nearly 10% in the past week. 

    The XRP Ledger is preparing for an upgrade that will introduce an Automated Market Maker (AMM) into the ledger. This AMM will act as an opportunity for XRP holders to earn on-chain income by becoming liquidity providers. 

    The altcoin’s validators are currently voting on the proposal and data shows that the consensus is 60%. 

    Also read: Bitcoin price eyes comeback above $40,000, traders unsure of where BTC is headed next

    XRP Ledger gears up for upgrade

    The XRP Ledger is preparing for an amendment to its blockchain that will introduce a built-in Automated Market Maker (AMM) trading platform into the ledger. The AMM allows for crypto trading using liquidity pools, in a permissionless manner. 

    The proposal has gained support from validators, since its introduction. According to Panos Mekras, founder of Anados Finance, 20 validators have approved the XLS-30d amendment. The consensus is 62.86% according to data from XRPScan. 

    XRP

    Voting on the XRP Ledger amendment

    AMMs eliminate the need for order books, thereby reducing both the delay and transaction costs. The amendment will offer traders the opportunity to trade with the liquidity pool, thus making liquidity available irrespective of market conditions. 

    XRP price is $0.51 at the time of writing. The altcoin’s price is down nearly 2% on the day. XRP price declined over 10% in the past week. 

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
    placeholder
    Ripple CEO slams SEC says the regulator has lost consistently, XRP price sustains above $0.55Ripple CEO Brad Garlingouse commented on the SEC v. Ripple lawsuit and a potential XRP ETF.
    Source  Fxstreet
    Ripple CEO Brad Garlingouse commented on the SEC v. Ripple lawsuit and a potential XRP ETF.
    placeholder
    XRP price drops slightly as SEC v. Ripple lawsuit heads towards end of discovery phaseXRP price climbed 3.70% in the past week and declined slightly on Monday as the SEC v.
    Source  Fxstreet
    XRP price climbed 3.70% in the past week and declined slightly on Monday as the SEC v.
    placeholder
    ThorChain Price Prediction: RUNE bulls prepare to reclaim $5.50ThorChain (RUNE) price is trading with a bullish bias, completing a full swing v-shaped recovery after the steep dip in the first four days of February.
    Source  Fxstreet
    ThorChain (RUNE) price is trading with a bullish bias, completing a full swing v-shaped recovery after the steep dip in the first four days of February.
    goTop
    quote