The XRP Ledger (XRPL) shows a massive concentration of its tokenized commodities value around a single energy token called JMWH, issued by Justoken. This token, representing one real megawatt-hour of energy, is valued at $2.23 billion, accounting for 89% of the ledger’s total tokenized commodity value. The largest listed diamond collection (DIA-AD-COL1) reaches only $105.2 million. According to RWA.xyz, XRPL’s annual net commodity inflows amount to approximately $2.2 billion versus $1.6 billion for Ethereum. Justoken’s Enertoken launch with YPF Luz covers over $800 million in energy assets, though whether XRPL adoption translates into actual XRP demand remains an open question.
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