XRP skyrocketed, taking stock of 9 coin projects related to the ecosystem

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ChainCatcher
3 days ago
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Author: flowie, ChainCatcher

Editor: Nianqing, ChainCatcher

The situation of "buying new and not old" is reversing. The old public chain Ripple coin XRP has been surging continuously, with an increase of more than 360% in the past month, and its market value has surpassed USDT and SOL, becoming the third largest cryptocurrency today. In addition, the market value of XRP has also surpassed Pinduoduo, China Life Insurance, and Citigroup, rising to the 138th position in the global asset ranking.

According to the RootData heat trend, the project token heat related to the XRP ecosystem is rising rapidly, and ChainCatcher has made a brief review of the projects related to the XRP ecosystem.

XRP Ledger (XRPL) Ecosystem Projects

XRP Ledger (XRPL) is a public chain launched by Ripple in 2012, and Ripple has been actively exploring the development of the XRPL ecosystem in the past two years.

This year, Ripple has expanded the programmability of the XRP Ledger, and plans to launch the XRPL EVM sidechain by 2025, further expanding the construction of Ripple's ecosystem.

Ripple's upcoming stablecoin RLUSD has also undergone Beta testing on the XRPL chain this year. In addition, Ripple has expanded its cooperation with the UK cryptocurrency trading platform Archax this year, and plans to introduce billions of dollars worth of tokenized real-world assets into XRPL in the next year, aiming to make XRPL one of the leading blockchains for RWA tokenization.

According to RootData data statistics, the XRPL ecosystem currently has 10 projects, and Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo are 6 projects only on the XRPL single-chain.

1. Evernode (EVR) - Customized Layer 2

Evernode, founded in 2021, is a permissionless, decentralized Layer 2 network specifically designed to host highly flexible and scalable dApps, which serve as custom "AppChains" that allow developers to build and scale based on their chosen language, functionality, and geography, without having to invent their own consensus mechanism.

The Evernode token EVR was launched in February this year, and as of the time of writing, the price of EVR is $0.2952, up 18% in 24 hours and 336% in the past month, with a market cap of $7.38 million and an FDV of $21 million.

2. Sologenic (SOLO) - Tokenized Ecosystem

Sologenic is a tokenized ecosystem that helps users invest, trade, and tokenize assets such as stocks, ETFs, and fiat currencies on the XRP Ledger.

As of the time of writing, the price of the Sologenic token SOLO is $0.5858, up 8.5% in 24 hours and 509% in the past month, with a market cap and FDV of $232 million.

3. Xahau Network (XAH) - Programmable Smart Blockchain

Xahau Network is a smart blockchain with account-based programmability. Xahau introduces IOU token escrow and PayChannels as unique features to enhance transaction flexibility and security. Hooks are native smart contracts on the Xahau network.

As of the time of writing, the price of the Xahau Network token XAH is $0.1159, up over 80% in the past month, with an FDV of $68.89 million.

XRP Ledger (XRPL) Technical Collaborators

4. Coreum (COREUM) - Launching XRPL Cross-Chain Bridge

Coreum, launched by the Sologenic Development Foundation on December 20, 2021, is a Layer 1 blockchain built on the Tendermint core BFT. In March this year, Coreum launched an upgraded version of the XRPL bridge, allowing users to seamlessly transfer XRP to Coreum, the Cosmos ecosystem, and dozens of networks built on the Ethereum Virtual Machine.

As of the time of writing, the price of the Coreum token COREUM is $0.3186, up 19% in 24 hours and 423% in the past month, with a market cap of $123 million and an FDV of $174 million.

5. Evmos / Tharsis Labs (EVMOS) - XRPL Sidechain Technology Provider

In May this year, Ripple and Evmos have collaborated to develop the XRP Ledger EVM sidechain, which will be built using Evmos' modular and customizable technology stack, leveraging the Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 enterprises.

As of the time of writing, the price of the Evmos token EVMOS is $0.03, up 5% in 24 hours and 198% in just one month, with a market cap of $19.14 million and an FDV of $32.64 million.

6. Axelar (AXL) - Exclusive Cross-Chain Protocol for XRPL Sidechain

In June this year, the XRP Ledger announced the upcoming launch of the "XRPL EVM sidechain", and Ripple and the XRP community are committed to bringing new programmability, including smart contracts, to the XRPL ecosystem through the XRPL EVM sidechain (already in progress) by 2025, and exploring native functions on the XRPL mainnet.

And Axelar is used as the exclusive cross-chain protocol. Axelar will enable users to convert XRP to wrapped XRP (eXRP) to be used as the native token for gas fees on the sidechain.

As of the time of writing, the AXL token price is $0.99, up 44% in the past month, with a market cap of $853 million and an FDV of $1.17 billion.

7. Band Protocol (BAND) - Main Oracle Provider for XRPL

Band Protocol is a cross-chain data oracle platform aimed at building a high-quality web3 development product suite. By the end of 2023, Band announced that it will provide oracle pricing services for the XRP Ledger mainnet and its EVM sidechain.

As of the time of writing, the BAND token price is $1.8, up 76% in the past month, with a market cap and FDV of $289 million.

Others

8. Stellar (XLM) - Another Payment Network Co-Founded by Ripple

Stellar's founder Jed McCaleb was also a co-founder of Ripple. In 2013, due to differences in the proposed development direction of Ripple, Jed McCaleb left Ripple and founded the payment platform Stellar.

The Stellar token XLM is often highly correlated in price with XRP. As of the time of writing, the XLM token price is $0.5482, up 9% in 24 hours and over 490% in the past month, with a market cap of $16.05 billion and an FDV of $27.43 billion.

9. The Root Network (ROOT) / Futureverse - Metaverse Networks Associated with XRPL

The Root Network is a decentralized blockchain network optimized for metaverse applications, games, and experiences. The developer of The Root Network, Futureverse, raised $54 million in July 2023, led by 10T Holdings and with investment from Ripple.

Futureverse has adopted the XRPL Non-Fungible Token standard and uses XRP as the gas token on its Root network, and is integrated with the XRPL DEX to provide network liquidity.

As of the time of writing, the price of The Root Network token ROOT is $0.0433, up 160% in the past month, with a market cap of $62.63 million and an FDV of $51.95 million.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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