XRP’s burn rate rose 147% at the end of October, with 1,644 XRP burned on October 30, according to XRPScan. A total of 14,423,678 XRP, representing 0.014% of the supply, has been destroyed through the XRP Ledger’s deflationary mechanism. Despite the burn increase, XRP was down 15.86% for October after rising 30.11% in August and 7.91% in September. The Binance heist, in which $6.3 billion in client assets were stolen, weighed on crypto markets, although the exchange says it has reimbursed about 90% of victims. The XRP Ledger nevertheless recorded a 25.2% increase in stablecoins to $1.03 billion and a 39.6% rise in net XRP ETP inflows to $355.3 million.
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