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Highlights:
- Sologenic is currently creating a derivatives protocol on the Ripple network, which is capable of tokenizing securities.
- The SOLO token is available on exchanges like CoinTiger, Gate.io, etc.
- Its price surged more than 2% over the past seven days.
Investing in tokenized securities on decentralized blockchain platforms can be challenging for traders. But Sologenic (SOLO) commits to solving the issue through innovative services.
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What is Sologenic (SOLO) crypto?
Sologenic is currently making a derivatives protocol on the Ripple Network that can tokenize securities, ETFs, commodities, and other non-blockchain assets.
The idea is to bridge the traditional financial market and cryptocurrencies while making the cryptos more accessible.
It has created two separate teams for the project. The SOLO Core team focuses on expanding Sologenic's decentralized ecosystem, while the sologenic.com team focuses on the ecosystem's use-case side.
The core team comprises developers working on open-source projects and use-cases around XRP and SOLO. On the other hand, Sologenic.com (Manticore Securities AS), a public limited firm registered in the EU, focuses on tokenizing securities like stocks, ETFs, and commodities on the XRP Ledger using the Sologenic ecosystem.
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The SOLO token plays an integral role in the ecosystem. It allows token holders access to a wide range of stocks from around 30 global exchanges in North America, Europe, Asia, and other regions. They can trade in preferred stocks without the need for traditional brokerages.
Sologenic generates stablecoins in a 1:1 ratio backed by real-world assets. Each stablecoin represents the ownership of the assets. Furthermore, users can trade the tokenized assets against SOLO or XRP on Sologenic’s decentralized exchange (DEX).
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In addition, they can hold their private keys to their wallets, giving them full ownership of their assets. Likewise, the XRP Ledger enables swift transactions and improved security.
Sologenic has gained immense popularity after stepping into the derivatives market. Its TradFi platform allows both retail and institutional investors to explore various investment options.
The SOLO token is available on crypto exchanges like CoinTiger, HitBTC, Gate.io, etc.
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Source: *Data provided by CoinMarketCap.com
Bottom line:
The SOLO token was priced at US$0.3291 at 10:38 am ET on April 1, down by 4.95%, while its one-day volume jumped 63.35% to US$5.98 million. It has a market cap of US$65.82 million, and its fully diluted market cap is US$131.65 million.
The token's max supply is 400 million, the total supply is 399.94 million, and its circulating supply is 200 million. Its price rose 2.47% over the past seven days.
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