In just two weeks, the volume of XRP that market participants have bridged to Coreum has increased by 2,703%.
The team behind Coreum has been working to interoperate with other blockchains since the Coreum launch in March last year. This latest initiative involved the creation of a bridge that allows Coreum to communicate with the XRP Ledger.
The data indicates that network participants continue to pay attention to the bridge which allows for seamless transfer of XRP between XRPL Coreum and the XRPL. Coreum has welcomed over one million XRP to its ecosystem.
The bridge function is worth mentioning went live The Crypto Basics was released on March 12 but the access was restricted. The Crypto Basic was still available. reported The number of Coreum XRP token holders increased by 2,287% on March 22 to 191, with the total amount of bridged XRP at 57.191, just two days after Coreum’s public launch on March 20.
Coreum now home to over 1.6 million XRP
The Sologenic team confirmed in a post published recently that Coreum’s XRP token count has now exceeded 1,600,000,000 million.
More than 1,600,000 – $XRP You can live on the beach @cosmos Ecosystem using XRPL Coreum Bridge
Boost your XRPL native assets now.
: https://t.co/slbv3wKNS5#GoSolo #BridgeToTheCore pic.twitter.com/5RTRGYRMys
— Sologenic April 8, 2024
Latest News The following are some of the most effective ways to increase your ROI: Coreum’s official Blockchain explorer shows that Coreum is home to 1,603,209 tokens. The increase of 2,703% in the number of XRPs on Coreum since March 22 is impressive.
![Coreum: XRP Tokens - Crypto Basic Coreum Tokens - XRP](https://thecryptobasic.com/wp-content/uploads/2024/04/XRP-Tokens-on-Coreum.png)
These 1.6 millions XRP tokens were held by 464 Coreum addresses, a figure that represents a 142% rise from the last report. Nearly 1.2 million out of the total 1.6 million tokens are in Coreum liquidity pools. DEX Pulsara – Coreum-based.
Close to 1.2 millions of those are women. $XRP Liquidity Pools are a great way to invest in liquid assets. #PulsaraDAX, generating rewards! #SARA #DAX https://t.co/CrRrH6E4dP
— Pulsara (@pulsara_io) 9 April 2024
A Supply Shock Imminent?
The XRP community has been reacting to the recent announcement, since the move of XRP Tokens into Coreum may help remove more tokens off the market. When a user bridges XRP with Coreum, XRP-based XRPL tokens will be locked into the bridge contract.
Bridge then prints an equal amount of XRP tokens. Coreum. Market participants will not hold their XRP based on XRPL, despite receiving an equivalent amount of XRP via Coreum. The XRPL based XRP is locked into the bridge contract. This keeps them out of the market, and reduces supply.
In response to Coreum’s announcement, media personality Zach Rector drew attention to it. His previous prediction of a XRP shock that was imminent could come true, he said. He said that this could be accompanied by more burns of XRP and bridges, as the adoption would lead to an increase in on-chain activities.
Wow! You all know what I meant when I told you that there would be an #XRP Supply Shock
Bridges, DeFi, and XRP are just getting started! As activity increases, XRP will also be burned! https://t.co/hr3wQf0qjS
— Zach Rector (@ZachRector7) 9 April 2024
Several XRP figures have been identified, such as Ghostpunch Games’ Chad Steingraber. Previously expressed Similar sentiments are expressed regarding a looming XRP supply shock.