By Isaac • September 10, 2026 11:24 am •
The XRP Ledger has crossed five billion validated transactions. That is a real technical milestone—but a new account-level audit shows why raw blockchain activity can be a terrible shortcut for measuring adoption.
Bitquery Research analyzed all 5.06 billion transactions from January 2013 through September 8, 2026. In August alone, 793 sender accounts produced 93.2% of the ledger’s activity.
Bitquery classified 767 of those accounts as machines responsible for 92% of all transactions. The remaining 26 accounts in that busiest cohort were exchange hot wallets, which contributed another 1.1%.
The finding does not mean XRP has no users. It means transaction count and economic use are different measurements, especially on a network where fees are tiny and
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!