OKX Layer 2 'X Layer' sees $42.87 million in 24-hour trading volume... up 253% from previous month
Minseung Kang
Summary
- It was reported that X Layer developed by 'OKX' recorded $42.87 million in 24-hour on-chain trading volume, surging 253% from the previous month.
- During the same period, the number of transactions was reported to be 268,300.
- Industry sources attribute the recent X Layer update to improving transaction processing speed, reducing gas fees, and enhancing Ethereum compatibility.
The on-chain trading volume of 'X Layer', a Layer 2 network developed by the cryptocurrency exchange OKX, has recently surged.
On the 17th, crypto-focused media outlet BlockBeats, citing GeckoTerminal data, reported that "over the past 24 hours, X Layer’s trading volume reached $42.87 million, a 253% increase from the previous month." During the same period, the number of transactions was 268,300.
The industry is citing the recent X Layer update as the reason for this surge in trading volume. Previously, OKX stated it had increased X Layer’s transaction processing speed to 5,000 transactions per second (TPS), lowered gas fees to virtually zero, and strengthened compatibility with the Ethereum network.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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