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/PlutoChain/ – XRP’s decentralized exchange (DEX) is seeing a spike in activity, hitting $17 million in daily volume. This surge in trading has some market participants speculating — could this be the catalyst that finally sends XRP soaring to $15?
At the same time, new blockchain projects could push boundaries in ways that might change the space. PlutoChain ($PLUTO) may be one to watch, bringing a Layer-2 solution that could make Bitcoin faster and cheaper.
By enabling instant transactions, potentially slashing fees, and bridging Bitcoin with Ethereum, PlutoChain might help address Bitcoin’s long-standing scalability issues.
Let’s check out the details.
Ripple Price Prediction: Can the $17M Daily Volume in Ripple’s DEX Push XRP to a New Bull Rally?
The XRP Ledger’s built-in decentralized exchange achieved milestones in early 2024, reaching $400 million in trading volume during January with daily averages of $17 million, according to Ripple’s Chief Executive Brad Garlinghouse.
Speaking at XRP Community Day on Twitter, Garlinghouse revealed that total cryptocurrency swaps on the DEX have surpassed $1 billion since its inception in 2024. He highlighted this achievement as part of what he expects to be a transformative year for Ripple.
The CEO pointed to several other positive developments, including early adoption of Ripple’s RLUSD stablecoin and multiple applications for XRP-based exchange-traded funds.
Investment bank JPMorgan projects substantial capital inflows for XRP ETFs, with estimates suggesting that proposals from firms like Bitwise and WisdomTree could attract over $8 billion in investments.
These developments could significantly impact XRP’s market dynamics. The combination of growing DEX volume and potential ETF approvals might create increased demand pressure, while the integration of RLUSD could enhance XRP’s utility in the broader cryptocurrency ecosystem.
Could PlutoChain Enhance Bitcoin’s Capabilities with Smart Contracts and Powerful Layer-2 Features?
PlutoChain ($PLUTO) could enable smart contracts and decentralized applications (dApps) on the Bitcoin network, potentially addressing Bitcoin’s current limitations due to its 10-minute block time. This slower processing speed has historically restricted Bitcoin’s utility for complex applications when compared to potentially faster networks such as Ethereum or Solana.
PlutoChain could offer a solution to these challenges. With a projected block time of approximately 2 seconds, the platform might enable developers to create high-performance dApps while potentially leveraging Bitcoin’s established security infrastructure.
Initial testnet results suggest the possibility of processing over 43,200 transactions daily, which could indicate potential scalability for real-world applications.
One notable aspect that might distinguish PlutoChain is its proposed governance structure. Rather than centralized control, the platform appears to be designed to allow users to participate in protocol decisions, which could help maintain decentralization and community alignment.
The project has undergone security audits from firms including SolidProof, QuillAudits, and Assure DeFi, which suggests a commitment to security standards.
Additionally, PlutoChain’s potential compatibility with the Ethereum Virtual Machine (EVM) could allow it to integrate with Ethereum’s ecosystem, potentially enabling new opportunities in DeFi, NFTs, and AI applications.
The Bottom Line
XRP’s DEX hitting $17 million in daily volume, along with the growing buzz around XRP ETFs and Ripple’s stablecoin, could be exactly what’s needed to push XRP into a real rally. If trading activity keeps climbing and institutional money flows in, XRP could finally break past key resistance levels.
At the same time, other projects could tackle major blockchain challenges. PlutoChain ($PLUTO) is working on a Layer-2 solution that could make Bitcoin transactions faster and cheaper while improving compatibility with Ethereum.
PlutoChain might attract users frustrated with Bitcoin’s high fees and slow speeds — giving it a strong use case.
Please remember that this article is purely informational and not financial advice. Any and all cryptocurrencies are volatile, with prices prone to rapid changes. Always do your own research and consult an expert before joining any crypto venture. We are not liable for any outcomes based on the information in this article. Statements about the future entail risks and may not reflect updates.
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