Original Author: flowie, ChainCatcher
Original Editor: Nianqing, ChainCatcher
The trend of favoring new projects over old ones is reversing. The veteran public chain Ripple's coin XRP has continued to surge, increasing over 360% in the past month, with today's market cap surpassing USDT and SOL to become the third-largest cryptocurrency. Moreover, XRP's market cap has also surpassed Pinduoduo, China Life, and Citigroup, rising to 138th place in global asset rankings.
According to RootData's trend analysis, the popularity of projects related to the XRP ecosystem is rapidly rising, and ChainCatcher has provided a brief overview of XRP ecosystem-related projects.
XRP Ledger (XRPL) ecosystem project
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 Ripple's ecosystem.
Ripple's upcoming stablecoin RLUSD has also undergone beta testing on the XRPL chain this year. Additionally, Ripple expanded its partnership with the UK crypto trading platform Archax this year, planning to bring hundreds of millions of tokenized real-world assets to XRPL over 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 Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo being the six projects solely on the XRPL single chain.
Among them, Evernode, Sologenic, and Xahau Network have issued tokens, with Evernode and Sologenic seeing their token prices triple and increase more than fivefold in the past month, respectively.
1. Evernode (EVR) - Customized Layer 2
Evernode, established in 2021, is a permissionless, decentralized Layer 2 network, specifically designed to host ultra-flexible and highly scalable dApps, which act as customized mini-blockchains ('AppChains'), enabling developers to build and scale based on their chosen languages, functionalities, and geolocations, without the need to invent their own consensus mechanism.
The Evernode token EVR was 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 cap of $7.38 million and an 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 top of the XRP Ledger.
As of the time of writing, the Sologenic token SOLO is reported at $0.5858, having increased by 8.5% in 24 hours and 509% in the past month, with a market cap 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, enhancing transaction flexibility and security. Hooks are the native smart contracts on the Xahau network.
As of the time of writing, the Xahau Network token XAH is reported at $0.1159, having increased by over 80% in the past month, with an FDV of $68.89 million.
XRP Ledger (XRPL) technology partners
4. Coreum (COREUM) - Launched 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, having increased by 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 of this year, Ripple and Evmos collaborated to develop the XRP Ledger EVM sidechain, which will be built using evmOS technology, a modular and customizable tech stack provided by Evmos, leveraging Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 enterprises.
As of the time of writing, the Evmos token EVMOS is reported at $0.03, having increased by 5% in 24 hours and 198% over a single 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 of this year, XRP Ledger announced the upcoming launch of a sidechain called 'XRPL EVM sidechain,' with Ripple and the XRP community dedicated to bringing new programmability to the XRPL ecosystem through the XRPL EVM sidechain (currently in progress) by 2025, including smart contracts, and exploring the 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), serving as the native token for gas fees on the sidechain.
As of the time of writing, the price of AXL token is $0.99, having increased by 44% in the past month, with a market cap of $853 million and an 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 it would provide oracle price feeding services for the XRP Ledger mainnet and its EVM sidechain.
As of the time of writing, the BAND token is reported at $1.8, having increased by 76% in the past month, with a market cap of $289 million and an FDV of $289 million.
Others
8. Stellar (XLM) - Another payment network founded by Ripple co-founder
Jed McCaleb, the founder of Stellar, was also a co-founder of Ripple. In 2013, due to disagreements over Ripple's proposed 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, the price of XLM token is reported at $0.5482, having increased by 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 - A 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, secured $54 million in July 2023, led by 10T Holdings and participated by Ripple.
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, having increased by 160% in the past month, with a market cap of $62.63 million and an FDV of $51.95 million.
