Root Network, an open metaverse startup, saw its native ROOT token skyrocket in value after being listed on cryptocurrency exchanges. The token began trading at 07:00 UTC today on KuCoin and trading will begin later at 21:00 UTC on other platforms including PayBit, BitGate, and Gate EO.
The Root Network is designed to provide a secure experience for users within the Metaverse. It uses a standard development toolkit to ensure scalability and interconnectivity across different applications. By integrating with the Ripple Ledger (XRPL) and ensuring compatibility with the Ethereum Virtual Machine
(EVM), the network facilitates seamless transactions and interactions within the digital world.
A particularly notable rise occurred on QKion, where Root's value rose by 627% to $0.030288. This impressive performance highlights the market's enthusiasm for new projects in the fast-growing metaverse sector.
Integrating XRP as a gas token for transactions within Root Network is a strategic move that not only enhances the utility of the Ripple-backed cryptocurrency but also supports its case in the ongoing lawsuit with the Securities and Exchange Commission (SEC). Ripple Labs has consistently argued that XRP functions as a utility token, and its role in the Root Network can help bolster this claim by demonstrating its practical use in facilitating transactions within the Metaverse platform.
