thecryptobasic.com
The $XRP Ledger has now become the fourth-largest blockchain in terms of represented tokenized RWA value, beating heavyweights Ethereum and Polygon.
Notably, the $XRP Ledger (XRPL) now boasts $1.4 billion in represented tokenized real-world assets, having witnessed a massive 266% increase in value over the past month, the largest uptick among the top 10 blockchain networks.
For context, Ethereum currently hosts $208.6 million worth of represented real-world assets (RWA), with a 30.09% decline in the last 30 days. This makes Ethereum ninth on the list of largest chains by represented RWA. Meanwhile, Polygon, which boasts a whopping $817.1 million worth of represented RWA, sits fifth, just below the XRPL.
Key Points
- The XRPL, which lagged considerably in tokenized real-world assets, appears to be seeing some rapid gains.
- In the last 30 days, the XRPL has recorded a 266% increase in represented RWA value, hitting $1.4 billion.
- This places the ledger in fourth place among the largest networks by represented RWA, towering over Ethereum and Polygon.
- Polygon, with $817 million in represented RWA, sits fifth, while Ethereum secures the ninth position with $208 million.
- The XRPL still lags in distributed RWA, but has now soared to become the sixth-largest chain across all metrics.
$XRP Ledger Sees 266% Rise in Represented RWA
Insights from RWA.xyz confirm this data, which shows how the XRPL has improved in RWA tokenization over the past few weeks. For context, The Crypto Basic reported a week ago that the XRPL had crossed the $1 billion milestone in terms of tokenized RWA.
However, Ripple’s Luke Judges revealed that the figure had already doubled to $2 billion. Judges stressed that the discrepancy came from a delay by RWA.xyz to index the value contributed by their partners. According to her, his team has a clear strategy, which is now starting to pay off.
Interestingly, shortly after the report from The Crypto Basic, RWA.xyz updated the figures around XRPL’s tokenized value, indexing $861 million worth of represented RWA value by JMWH. For the uninitiated, JMWH is a commodity token representing tokenized energy backed by actual energy companies. The asset rests on the Justoken tokenization platform.
XRPL Now Fourth Largest in Terms of Represented Value
Notably, the inclusion of JMWH took the XRPL’s represented RWA value to a whopping $1.257 billion. Meanwhile, days later, the $XRP Ledger also welcomed $108 million worth of tokenized value from Anita Diamonds Collection, hosted on the Ctrl Alt platform.
With a mild increase across other existing represented RWA, the XRPL’s represented tokenized assets have now grown to $1.44 billion, a 266% increase in the past 30 days. This figure places the ledger fourth among blockchains with the largest represented RWA.
For context, XRPL now towers over heavyweights such as Ethereum and Polygon, only behind Canton, Provenance, and ZKSync Era in this metric. Specifically, Polygon holds $817.1 million worth of represented RWA, sitting just below the XRPL at fifth. Meanwhile, Ethereum holds only $208.6 million, currently sitting ninth.
XRPL Still Lags in Distributed RWA
However, the XRPL still lags other networks in terms of distributed RWA. With $235.7 million worth of distributed assets, the XRPL sits tenth on the list of largest networks by this metric. For perspective, Ethereum leads with a whopping $15.6 billion in distributed RWA, while BNB Chain comes second with $2.3 billion.
Despite the low figures from distributed assets, the XRPL’s increase in represented RWA has pushed it to sixth overall when considering all real-world assets, including represented and distributed ones. The Ledger currently holds $1.7 billion in total RWA, and it remains unclear if this figure considers Luke Judges’ earlier correction.
