Opinion: Only Four Protocols on XRP Ledger Are Worth Watching, "Strategic" CEX Trades $26 in the Past 24 Hours

According to ChainCatcher, as reported by Protos, Ripple has announced the launch of its long-awaited Ethereum Virtual Machine (EVM) compatible sidechain for the XRP Ledger, which went live on June 30. Although Ripple claims that after years of development and testing, this mainnet will usher in a “new era of cross-chain DeFi,” the network’s total value locked (TVL) currently remains below $100,000, with only four notable protocols.

The most popular application on the network processed less than $1,100 in transactions over the past week. As of yesterday, the “strategically positioned” decentralized exchange Moai Finance on the network recorded just $26 in trading volume in the past 24 hours.