of $XRP Ledger (XRPL) has just been demoted in on-chain real world asset (RWA) tokenization market cap. According to Data from DeFiLlama, $XRP Ledger is currently the 11th largest protocol for tokenizing real-world assets.
$XRP Ledger and tokenization market
According to the data, $XRP Currently, Ledger’s RWA valuation is only approximately $61.86 million. It has been replaced by Plume Network, which boasts $74.02 million in on-chain capital in tokenized products.
Recently, the pursuit of on-chain tokenization has intensified, with nearly all layer 1 blockchains being optimized to gain market share. So far, the RWA market is still dominated by Ethereum, with RWA’s on-chain market capitalization exceeding $13.3 billion.
Binance Smart Chain, SolanaArbitrum and Aptos round out the top five list with $2.63 billion, $2.16 billion, $1.21 billion, and $558.9 billion. these numbers look small $XRP Ledger’s value is probably justified by the low number of active asset issues registered by DeFiLlama.
With massive predictions of continued growth in RWA tokenization; $XRP Leisure ecosystem developers are already looking for ways to turn the tide. From fixes initiated on the chain, Partnerships signed by Ripple Labsexpectations for long-term economic expansion remain high.
The reality of RWA becomes clear
In contrast to data predictions from DeFiLlama, another RWA profiling platform. RWA.xyzwith pegs $XRP Ledger as a more active chain of tokenized products.
As previously reported by U.Today, $XRP Solana’s ledger turned upside down Among the representative tokenization trends. This platform allows the value of tokenized products to be $XRP The ledger is over $1.9 billion.
Over the past year, Ripple Labs has made significant moves to strengthen the integration of tokenized products. $XRP ledger. As recently announced, the company just helped facilitate the tokenization of $280 million worth of diamonds, one of many diamonds coming to the XRPL mainnet.