Author: flowie, ChainCatcher
Editor: Nianqing, ChainCatcher
The trend of "buying new and not old" is reversing. The old public chain Ripple's XRP has been surging continuously, with an increase of over 360% in the past month, and its market value has now surpassed USDT and SOL, making it the third largest cryptocurrency. In addition, the market value of XRP has also surpassed Pinduoduo, China Life Insurance, and Citigroup, ranking 138th among global assets.
According to RootData's 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 Ripple 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, planning to introduce billions of dollars worth of tokenized real-world assets into XRPL in the coming 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, with Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo being 6 projects solely on the XRPL single-chain.
Among them, Evernode, Sologenic, and Xahau Network have already issued tokens, with Evernode and Sologenic's token prices increasing by more than 3 times and 5 times respectively in the past month.
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 EVR price is currently $0.2952, up 18% in 24 hours and 336% in the past month, with a market capitalization of $7.38 million and a fully diluted valuation (FDV) of $21 million.
2. Sologenic (SOLO) - Tokenized Ecosystem
Sologenic is a tokenized ecosystem that helps users invest, trade, and tokenize-on-demand assets such as stocks, ETFs, and fiat currencies on the XRP Ledger.
As of the time of writing, the Sologenic token SOLO is priced at $0.5858, up 8.5% in 24 hours and 509% in the past month, with a market capitalization of $232 million and an 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 Xahau Network token XAH is priced at $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 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 Coreum token COREUM is priced at $0.3186, up 19% in 24 hours and 423% in the past month, with a market capitalization 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 Evmos token EVMOS is priced at $0.03, up 5% in 24 hours and 198% in just one month, with a market capitalization of $19.14 million and an FDV of $32.64 million.
6. Axelar (AXL) - XRPL Sidechain Exclusive Cross-Chain Protocol
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 by 2025 through the XRPL EVM sidechain (which is already underway).
And Axelar is 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 capitalization of $853 million and an FDV of $1.17 billion.
7. Band Protocol (BAND) - XRPL's Main Oracle Provider
Band Protocol is a cross-chain data oracle platform aiming to build a high-quality web3 development product suite. By the end of 2023, Band announced to provide oracle pricing services for the XRP Ledger mainnet and its EVM sidechain.
As of the time of writing, the BAND token is priced at $1.8, up 76% in the past month, with a market capitalization of $289 million and an 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 price of the Stellar token XLM is often highly correlated with XRP. As of the time of writing, the XLM token is priced at $0.5482, up 9% in 24 hours and over 490% in the past month, with a market capitalization 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, received $54 million in funding led by 10T Holdings with participation from Ripple in July 2023.
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 token of The Root Network, ROOT, is priced at $0.0433, up 160% in the past month, with a market capitalization of $62.63 million and an FDV of $51.95 million.
