More than 834,000 XRP, or around $1.2 million worth of the token, has already been wrapped and activated on Solana.
Meanwhile, XRP Ledger ranks 41st, with just $51.46 million in DeFi TVL.
“There’s growing demand to use XRP across the wider crypto ecosystem and institutions, and so we are excited to see Hex Trust address this demand,” Ripple X SVP Marcus Infanger said in a statement when the initiative was launched in December.
With the wrapped token’s launch on Solana, now they can do so.
In addition to the $1.2 million in wXRP on Solana, 50 million tokens or around $74.5 million worth of wXRP has been minted on Ethereum. Almost all of those tokens have been in the same Ethereum wallet—one likely connected to the token issuer—since early November, prior to the wXRP announcement.
A representative for Hex Trust did not immediately respond to Decrypt’s request for comment. XRP is up around 2% in the last 24 hours, recently changing hands at $1.49. It remains 59% off its all-time high of $3.65 created last July.
