Author: Flowie, ChainCatcher
Editor: Nianqing, ChainCatcher
The situation of speculating on new projects rather than old ones is reversing. The established public chain Ripple's token XRP has continued to soar, with an increase of over 360% in the past month, and its market capitalization has surpassed USDT and SOL, becoming the third-largest cryptocurrency. In addition, XRP's market capitalization has also surpassed Pinduoduo, China Life, and Citigroup, rising to the 138th position in global asset rankings.
According to RootData's trending data, the popularity of project tokens related to the XRP ecosystem is rapidly rising, and ChainCatcher has provided a brief overview of projects related to the XRP ecosystem.
XRP Ledger (XRPL) ecosystem projects
The XRP Ledger (XRPL) is a public chain launched by Ripple in 2012. 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 Ripple's ecosystem.
Ripple's upcoming stablecoin RLUSD has also undergone beta testing on the XRPL chain this year. In addition, Ripple expanded its collaboration with the UK cryptocurrency trading platform Archax this year, planning to bring hundreds of millions of tokenized real-world assets to the XRPL in the coming 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 including 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 token prices increasing by more than 3 times and 5 times over the past month.
1. Evernode (EVR) - Customized Layer 2
Evernode was established in 2021 and is a permissionless, decentralized Layer 2 network dedicated to hosting ultra-flexible and highly scalable dApps. These dApps serve as customized mini-blockchains ('AppChains'), allowing developers to build and scale according to their chosen language, functionality, and geographical location without needing to invent their own consensus mechanism.
The Evernode token EVR launched in February this year; as of the time of writing, the price of EVR is reported at $0.2952, up 18% in 24 hours, and up 336% over the past month, with a market capitalization 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 top of the XRP Ledger.
As of the time of writing, the price of the Sologenic token SOLO is reported at $0.5858, up 8.5% in 24 hours, and 509% over the past month, with a market capitalization of $232 million and an FDV of $232 million.
3. Xahau Network (XAH) - A programmable smart blockchain
Xahau Network is a smart blockchain with account-based programmability. Xahau introduces IOU token custody and PayChannels as unique features to enhance transaction flexibility and security. Hooks are the native smart contracts on the Xahau network.
As of the time of writing, the price of the Xahau Network token XAH is reported at $0.1159, with an increase of over 80% in the past month, and an FDV of $68.89 million.
XRP Ledger (XRPL) technology partner
4. Coreum (COREUM) - Launching the XRPL cross-chain bridge
Coreum was launched by the Sologenic Development Foundation on December 20, 2021. It 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 reported at $0.3186, up 19% in 24 hours, and up 423% over 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 of this year, Ripple and Evmos collaborated to develop the XRP Ledger EVM sidechain, which will be built using evmOS technology. Evmos provides a modular and customizable tech stack that brings EVM compatibility to Web3 enterprises using Cosmos SDK, IBC, and CometBFT.
As of the time of writing, the price of the Evmos token EVMOS is reported at $0.03, up 5% in 24 hours, with only a 198% rise over the past month, and a market capitalization of $19.14 million and an FDV of $32.64 million.
6. Axelar (AXL) - Exclusive cross-chain protocol for XRPL sidechains
In June of this year, the XRP Ledger announced the upcoming launch of a sidechain called 'XRPL EVM sidechain.' Ripple and the XRP community are committed to bringing new programmability to the XRPL ecosystem through the XRPL EVM sidechain (which is already in progress) by 2025, including smart contracts, and exploring native functionalities on the XRPL mainnet.
and uses Axelar as the exclusive cross-chain protocol. Axelar will enable users to convert XRP into wrapped XRP (eXRP), serving as the native token for gas fees on the sidechain.
As of the time of writing, the price of the AXL token is $0.99, up 44% over the past month, with an AXL market capitalization of $853 million and an FDV of $1.17 billion.
7. Band Protocol (BAND) - Main provider of oracles for XRPL
Band Protocol is a cross-chain data oracle platform designed to build a high-quality suite of web3 development products. By the end of 2023, Band announced it would provide oracle price feed services for the XRP Ledger mainnet and its EVM sidechain.
As of the time of writing, the price of the BAND token is reported at $1.8, up 76% over the past month, with a market capitalization of $289 million and an FDV of $289 million.
Others
8. Stellar (XLM) - Another payment network founded by Ripple's co-founder
Jed McCaleb, the founder of Stellar, was also a co-founder of Ripple. In 2013, due to differences in the proposed development direction of Ripple, Jed McCaleb left Ripple to found the payment platform Stellar.
The price of Stellar's XLM token is often highly correlated with XRP. As of the time of writing, the price of the XLM token is reported at $0.5482, up 9% in 24 hours, and up over 490% over 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 network associated with XRPL
The Root Network is a decentralized blockchain network optimized for metaverse applications, games, and experiences. The Root Network's developer Futureverse raised $54 million in July 2023, led by 10T Holdings with Ripple participating.
Futureverse adopts the XRPL NFT standard, using XRP as its gas token on the Root network and integrates with the XRPL DEX to provide network liquidity.
As of the time of writing, the price of The Root Network token ROOT is reported at $0.0433, up 160% over the past month, with a market capitalization of $62.63 million and an FDV of $51.95 million.
