Main navigation

Top XRP Ledger Project's Token Achieves Listing on BitMart

Thu, 01/26/2023 - 14:32
article image
Gamza Khanzadaev
XRPL top project's token, SOLO, achieves major listing on Cayman Islands' crypto exchange
Top XRP Ledger Project's Token Achieves Listing on BitMart
Cover image via
Read U.TODAY on
Google News

The token of one of the top projects on XRP Ledger, Sologenic (SOLO), has been listed on the BitMart crypto exchange. The Cayman Islands-based exchange, with trading volume in excess of $500 million, is another centralized crypto platform along with Huobi and Gate that decided to launch trading of perhaps the most hyped token on XRPL other than XRP.

Trading of SOLO on BitMart is already open on the spot market against USDT. The token trades at $0.17, per SOLO, which has 100% of its 400 millionth offering in circulation and is valued at $67.54 million market capitalization.

How DeFi Brings Crypto and Real-World Assets Together: Case of Sologenic (SOLO)

What's up with Sologenic and SOLO?

Sologenic is an open-source decentralized finance platform on XRP Ledger. In addition to the classic decentralized exchanges and NFT marketplace opportunities, it is possible to create and trade tokenized assets yourself on Sologenic. In addition, SOLONEX, a tokenized brokerage solution for financial institutions, has been developed. The platform also issues its own cryptocurrency debit cards and runs a decentralized wallet.

One of the architects of XRP Ledger and current Ripple CTO, David Schwartz, has also expressed support for Sologenic. As a big NFT enthusiast, Schwartz exhibited his work on the Sologenic marketplace, saying it was "pretty amazing."

Ripple CTO David Schwartz Praises XRP Ledger Projects, Here's Who's Getting Credit

The token itself, SOLO, is actively used as a payment method on the decentralized exchange and NFT platform, and it is also used as a voting asset for managing Sologenic.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.