Author: Flowie, ChainCatcher
Editor: Nianqing, ChainCatcher
The trend of investing in new projects rather than old ones is reversing. The long-established public chain Ripple's token XRP has continued to surge, with an increase of over 360% in the past month, and today its market capitalization has surpassed USDT and Sol, making it the third-largest cryptocurrency. Additionally, XRP's market capitalization has also surpassed Pinduoduo, China Life, and Citibank, rising to the 138th position in global asset rankings.
According to RootData's popularity trend, the popularity of project tokens related to the XRP ecosystem is rapidly rising, with ChainCatcher providing a brief overview of projects related to the XRP ecosystem.
XRPL ecosystem projects
XRP Ledger (XRPL) is the public chain launched by Ripple in 2012, and in the past two years, Ripple has been actively exploring the development of the XRPL ecosystem.
Ripple has expanded the programmability of the XRP ledger this year and plans to launch the XRPL EVM sidechain in 2025, further expanding the Ripple ecosystem.
Ripple's upcoming stablecoin RLUSD has also undergone beta testing on the XRPL chain this year. Furthermore, Ripple has expanded its collaboration with the UK crypto trading platform Archax this year, planning to bring hundreds of millions of dollars worth of tokenized real-world assets to XRPL within the next year, aiming to make XRPL one of the leading blockchains for RWA tokenization.
According to RootData statistics, there are currently 10 projects in the XRPL ecosystem, with 6 projects, Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo, existing solely on the XRPL single chain.
Among them, Evernode, Sologenic, and Xahau Network have issued tokens, with the token prices increasing threefold and more than fivefold in the past month.
1. Evernode (EVR) - Customized Layer 2
Evernode was established in 2021 as a permissionless, decentralized Layer 2 network dedicated to hosting hyper-flexible, highly scalable dApps that act as customized mini-blockchains ('AppChains'), allowing developers to build and scale according to their chosen language, features, and geography, without the need to invent their own consensus mechanism.
Evernode token EVR was launched in February this year, and as of the time of writing, EVR is reported at $0.2952, having risen 18% in the last 24 hours and 336% in the last month, with a market capitalization of $7.38 million and a FDV of $21 million.
2. Sologenic (SOLO) - Tokenization ecosystem
Sologenic is a tokenization ecosystem that helps users invest, trade, and tokenize assets like stocks, ETFs, and fiat currencies on the XRP Ledger.
As of the time of writing, Sologenic token SOLO is reported at $0.5858, having risen 8.5% in the last 24 hours and 509% in the last month, with a market capitalization of $232 million and a FDV of $232 million.
3. Xahau Network (XAH) - Programmable smart blockchain
Xahau Network is a programmable smart blockchain with account-based functionality. Xahau introduces IOU token custody and PayChannels as unique features, enhancing transaction flexibility and security. Hooks are native smart contracts on the Xahau network.
As of the time of writing, Xahau Network token XAH is reported at $0.1159, having risen over 80% in the last month, with a FDV of $68.89 million.
XRP Ledger (XRPL) technical partner
4. Coreum (COREUM) - Launching XRPL cross-chain bridge
Coreum was launched on December 20, 2021, by the Sologenic Development Foundation. It is a Layer 1 blockchain built on the Tendermint core BFT. In March of 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, Coreum token COREUM is reported at $0.3186, having risen 19% in the last 24 hours, and 423% in the last month, with a market capitalization of $123 million and a FDV of $174 million.
5. Evmos / Tharsis Labs (EVMOS) - Provider of XRPL sidechain technology
In May of this year, Ripple and Evmos cooperated to develop the XRP Ledger EVM sidechain, which will be built using evmOS technology. evmOS is a modular and customizable tech stack provided by Evmos, utilizing Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 enterprises.
As of the time of writing, Evmos token EVMOS is reported at $0.03, having risen 5% in the last 24 hours and 198% in the last month, with a market capitalization of $19.14 million and a FDV of $32.64 million.
6. Axelar (AXL) - Exclusive cross-chain protocol for XRPL sidechain
In June of this year, the XRP Ledger announced the upcoming launch of a sidechain called 'XRPL EVM sidechain.' The Ripple and XRP community is committed to bringing new programmability to the XRPL ecosystem through the XRPL EVM sidechain (which is already in progress) by 2025, including smart contracts, while exploring native features on the XRPL mainnet.
And using Axelar as the exclusive cross-chain protocol. Axelar will enable users to convert XRP into wrapped XRP (eXRP), which will serve as the native token for gas fees on the sidechain.
As of the time of writing, AXL token price is $0.99, having risen 44% in the last month, with an AXL market capitalization of $853 million and a FDV of $1.17 billion.
7. Band Protocol (BAND) - Major provider of XRPL oracles
Band Protocol is a cross-chain data oracle platform aimed at building a high-quality suite of web3 development products. By the end of 2023, Band announced that it would provide oracle pricing services for the XRP Ledger mainnet and its EVM sidechain.
As of the time of writing, BAND token price is reported at $1.8, having risen 76% in the last month, with a market capitalization of $289 million and a FDV of $289 million.
Others
8. Stellar (XLM) - Another payment network founded by Ripple co-founder
Stellar's founder Jed McCaleb was also a co-founder of Ripple. In 2013, due to differences in views on Ripple's proposed development direction, Jed McCaleb left Ripple to establish the payment platform Stellar.
The price of Stellar token XLM is often highly correlated with XRP. As of the time of writing, XLM token price is reported at $0.5482, having risen 9% in the last 24 hours and over 490% in the last month, with a market capitalization of $16.05 billion and a FDV of $27.43 billion.
9. The Root Network (ROOT) / Futureverse - Metaverse network associated with XRPL
The Root Network is a decentralized blockchain network optimized for metaverse applications, games, and experiences. The developers of The Root Network, Futureverse, raised $54 million in July 2023, led by 10T Holdings with participation from Ripple.
Futureverse has adopted the XRPL NFT standard, using XRP as its gas token on the Root network, and integrated with XRPL DEX to provide liquidity to the network.
As of the time of writing, The Root Network token ROOT is reported at $0.0433, having risen 160% in the last month, with a market capitalization of $62.63 million and a FDV of $51.95 million.
