On November 4th, CoinmMetrics analyzed the recent XRP chain data: 1. In the past two weeks, the number of XRP transactions has increased significantly. XRP's daily trading volume continued to remain high at the end of October; 2. The NVT ratio also hovered at this year's low. Since the network value has remained relatively stable, this indicates that the chain activity has been increasing; 3. The transaction value of the XRP chain has increased significantly; 4. The number of addresses with a balance greater than 10 XRP has steadily increased, indicating that the XRP chain is in a healthy state; However, XRP's realized realized cap continues to decline from the historical high of XRP prices. Note: The NVT ratio is equivalent to the P/E ratio of the encrypted asset. NVT = cryptocurrency network value / daily transaction volume. Too low a NVT ratio indicates that investors underestimate their true network value.