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Ripple CTO David Schwartz has captured the XRP Ledger community’s admiration, recently receiving a gesture of appreciation from the DROP token team for his contributions to the network. Despite facing a recent 50% dip after a quick rise, DROP remains one of the most notable meme coin projects on XRP Ledger, drawing significant attention from investors.
Ripple CTO Honored by DROP Team
In recognition of Schwartz’s dedication to the XRP Ledger ecosystem, the DROP team reached out to offer him 15 tokens as a token of gratitude. Surprising the community, Schwartz accepted the gesture and shared a wallet address for the gift. This response from Schwartz delighted his supporters, showing his openness to the community’s projects and his commitment to supporting those actively working to improve the XRP Ledger.
The DROP team further expressed their appreciation for Schwartz’s ongoing support of their project and the broader XRP ecosystem. Schwartz responded positively, stating that he was happy to receive such gestures and stands behind everyone contributing to the network’s growth.
Hey @JoelKatz we want to $DROP a little gift in your wallet as a thank you for creating the XRPL, we’ll cover the trustline 💧 pic.twitter.com/8ion2m06dG
— $DROP (@DropCoinXRPL) October 30, 2024
Meme Coin Trend Soars on XRP Ledger
DROP has become one of the standout projects in the XRP Ledger’s thriving meme coin trend. Trading on the First Ledger DEX, DROP is currently valued at around 8.24 XRP (about $4.29). However, the token recently experienced a 13.35% loss in 24 hours. With a total supply of 989,000 tokens and a market cap of 4.24 million, DROP has reached approximately 3,580 investors, while its daily trading volume remains relatively low at 828,000 XRP (around $430,000).
Only two weeks after its launch, DROP achieved a significant milestone, reaching a market cap of $10 million, becoming the first meme coin on the First Ledger DEX to hit this level. Despite its impressive rise, DROP has since lost over 50% of its market cap, stirring concerns among investors. This rapid rise and subsequent fall highlight the volatility within XRPL’s meme coin space.
Memepad Boosts Innovation for XRPL Meme Coins
Magnetic X, a popular decentralized exchange on XRP Ledger, has introduced Memepad, a platform dedicated to meme coin projects. Memepad enables users on XRP Ledger to easily create and launch their own meme coins, fostering innovation and providing opportunities for new projects. Since its inception, over 70 new meme coins have been introduced through Memepad, further diversifying the meme coin landscape on XRPL.
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