The XRP Ledger (XRPL) has simply been demoted in on-chain actual world asset (RWA) tokenization market cap. In keeping with data from DeFiLlama, XRP Ledger is now the eleventh largest protocol for tokenization of real-world belongings.
XRP Ledger and tokenization market
Per the info, XRP Ledger is now price nearly $61.86 million in RWA valuation. This has seen its displacement by Plume Community, which boasts an on-chain capitalization of $74.02 million for its tokenized merchandise.
The pursuit of on-chain tokenization has intensified in current instances, with nearly each layer-1 blockchain optimizing to win a market share. So far, the RWA market stays dominated by Ethereum, with over $13.3 billion in RWA on-chain market cap.
Binance Good Chain, Solana, Arbitrum and Aptos full the highest 5 record, with $2.63 billion, $2.16 billion, $1.21 billion and $558.9 billion. These figures dwarf XRP Ledger’s worth and are arguably justified by the smaller quantity of energetic asset points registered by DeFiLlama.
With a large projection that RWA tokenization will frequently develop, XRP Ledger’s ecosystem builders are already exploring avenues to shift the tide. From amendments launched on the chain to partnerships inked by Ripple Labs, expectations for a lift within the long-term stay excessive.
You May Additionally Like
RWA realities highlighted
Opposite to the info projections from DeFiLlama, one other RWA profiling platform, RWA.xyz, pegged XRP Ledger as a extra energetic chain for tokenized merchandise.
As reported earlier by U.As we speak, XRP Ledger flipped Solana within the represented tokenization development. This platform locations the worth of tokenized merchandise on the XRP Ledger at over $1.9 billion.
Over the previous 12 months, Ripple Labs has made important strikes to complement the mixing of tokenized merchandise on the XRP Ledger. As introduced just lately, the agency simply helped facilitate the tokenization of $280 million price of diamonds, one of many to return on XRPL mainnet.
