XRP Ledger Attracts 2,000 New Tokens in a Year Despite Legal Battle With the SEC

Vinod Dsouza
Source: Onxrp.com

The XRP Ledger (XRPL) has experienced significant development over the past year. The latest data suggests that more than 2,000 new tokens have been integrated into the XRPL network within the past year. The uptick in activity comes despite the SEC taking on a legal battle with Ripple Labs in 2020.

Recent data from XRPL volume shows that the network currently boasts 8,356 cryptocurrency tokens running on its systems. Out of which 2,000 new tokens were added in the last 365 days. That’s nearly 6 new tokens being added to the network every day from February 2022 to 2023.

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If the ledger maintains the same pace, reaching the 10,000 milestones might not take a long time. Also, the two most prominent tokens recently added to the ledger are Coreum (CORE) and Sologenic (SOLO) tokens. CORE and SOLO have firmly established themselves as the top two tokens in terms of 24-hour trade volume.

While CORE has a market cap of $329 million, SOLO comes in a distant second at $64 million.

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XRP: XRPL Gains Steam

Source: CryptoGazette

The uptick in XRPL activity comes at a time when XRP’s market cap climbed above $20 billion on Wednesday.

XRPL gained steam after FriiPay and Xumm collaborated to create the world’s first FriiPay Pay with XUMM point of sale (POS) terminal, integrating the POS device with the XUMM wallet, the leading non-custodial wallet made for XRPL.

The XRPL payments solution from Xumm and FriiPay aims to be accepted by retail stores worldwide.

A café in the Netherlands named 36aWay is the first to integrate FriiPay-XUMM’s XRPL as a payment option. The owner and founder of 36aWay, Akin Sariyildiz, said he got excited when Xumm introduced him to receiving crypto payments in his shop.

“I like the part where there’s no banking involved to use this innovative and secure payment method. Now we are set for the future of payments, and we hope we have enabled other shops to do the same,” he said.

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At press time, XRP was trading at $0.38 and was down 0.5% in the 24-hour day trade. XRP is also down 88.53% from its all-time high of $3.40, which it reached in January 2018.