The Root Network Price
(ROOT)
USD($)
The Root Network (ROOT) Live Price Chart
Overview
About
Analysis
FAQ
The Root Network Live Price Data
The live price of The Root Network is $0.03235, with a total trading volume of $ 687,873 in the last 24 hours. The price of The Root Network changed by +8.98% in the past day, and its USD value has decreased by -16.95% over the last week. With a circulating supply of 1.45B ROOT, the market cap of The Root Network is currently 46.84M USD, marking a --% increase today. The Root Network currently ranks #-- in market cap.
How do you feel about The Root Network today?
Note: This data is for reference only.
The Root Network(ROOT) Profile
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Website
Documentation
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Contract
- Ethereum 0xa3d4BE...a29
Audited By
- --
Code & Community
Investors
- --
$0.02919
$0.03496
- ATH
- $0.46501
- Price Change (1h)
- -1.06%
- Price Change (24h)
- +8.98%
- Price Change (7d)
- -16.95%
- Market Cap
- $46.84M
- 24h Volume
- $687,873
- Circulating Supply
- 1.45B
- Max Supply
- 12B
About ROOT
How can I buy The Root Network (ROOT)?
Buying ROOT on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy The Root Network (ROOT) for more information. What Is The Root Network (ROOT) Crypto?
The Root Network is a new Layer 1 which is designed as the hub of the open metaverse where anything can be connected to anything.
The Root Network is purpose-built for the open metaverse with core, UX and digital content focused protocols to enable seamless user experience and enhanced asset interoperability across the open metaverse.
The Root Network prioritizes user experience and safety with built in account abstraction and features like it's any token gas economy enabling some of the world's largest content brands to onboard users seamlessly and safely.
The Root Network is EVM compatible built on Substrate integrated to XRPL and ETH with other networks on the horizon allowing content and accounts on those networks to access deeper functionality and more interoperability in the open metaverse.
How Does The Root Network Work?
Here’s a breakdown of how The Root Network works:
Blockchain Interoperability
One of the primary features of the Root Network is its interoperability between the XRP Ledger (XRPL) and the Ethereum Virtual Machine (EVM). It uses a bridge that allows XRPL users to use XRP and other tokens on the XRPL within the Root Network. This interoperability enables seamless interaction and transaction across different blockchain platforms.
Layer-1 Blockchain Network
As a Layer 1 blockchain, the Root Network forms the foundational level of the blockchain architecture. It is designed to be the hub of the open metaverse, connecting different elements and platforms in a decentralized manner.
Use of XRP Token
The Root Network uses XRP as its default gas token and block rewards token. Transactions on the network require XRP to process, and validators and stakers on the network are rewarded in XRP. This integration of XRP into the Root Network's operations enhances the utility and value of XRP within this ecosystem.
NFT Standards
The network has implemented the XLS 20 NFT standard to ensure compatibility with XRPL. This standard is also ported to the EVM, which further enhances the network's interoperability capabilities, especially in the realm of NFTs.
Incentives for Validators and Stakers
Validators and stakers on The Root Network are incentivized with XRP rewards. This incentivization is crucial for maintaining the security and efficiency of the network, as it encourages participants to contribute positively to the network's operations.
When Was The Root Network (ROOT) Coin Launched?
The Root Network (ROOT) was launched on July 4th, 2023. This launch included the deployment of ROOT's Token Generation Event (TGE) and its decentralized application (dApp).
The Root Network is a decentralized blockchain network developed as a collaboration between Ripple, a leader in enterprise blockchain and crypto solutions, and FLUF World, a pioneer in 3D-enabled, content-rich NFT collections and experiences. Aaron McDonald co-founded FLUF World, which architected The Root Network.
The network is designed to facilitate "The Open Metaverse," focusing on interoperability and user experience, and it is built alongside the XRP Ledger (XRPL), which plays a crucial role in its operations. The Root Network supports dynamic NFTs, a multi-token gas economy powered by XRPL, and a range of other features, including a decentralized identity protocol, DeFi supported by the Mastercard network, decentralized communications, and an AI protocol.
The Root Network is part of the Futureverse, which comprises over eight companies, including Non-Fungible Labs, Sylo, Altered State Machine, and others, collectively raising over $500M to build the "Open Metaverse.”
What Is ROOT Token Used for?
The ROOT token, the native token of The Root Network, serves several key purposes within its ecosystem:
1. Governance of The Root Network
ROOT token holders can participate in the governance of the network, influencing decisions regarding its development and policies.
2. Securing The Root Network
ROOT is used in the network's Proof of Stake (PoS) mechanism to secure the network. This involves validators staking ROOT tokens to validate transactions.
3. Rewards for Node Operators and Validators
Those who operate nodes and validate transactions on the network are rewarded with ROOT tokens.
4. In-Game Utility
ROOT serves as the primary in-game token for the Fluf World game.
5. Data Marketplace Incentive
The token is used as an incentive in the network’s Data Marketplace, encouraging participation and contribution to this ecosystem.
6. Trade or HODL ROOT on KuCoin
Trade The Root Network crypto against other cryptos on the KuCoin Spot Market to make the most of changing market conditions and volatility. Buy or sell ROOT or hold it long-term if you believe in the future potential of The Root Network project. Remember to do your own research (DYOR) before entering any new trades in the crypto market.
The Root Network (ROOT) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $0.00251 | 8.44% |
| 7 Days | $-0.00661 | -16.95% |
| 30 Days | $0.00642 | 24.78% |
| 3 Months | $0.01265 | 64.20% |
24H Investment Barometer
24H
- Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Strong SellSellNeutralBuyStrong Buy
The Root Network Conversion Rate
FAQ
How much is 1 The Root Network (ROOT) worth?
KuCoin provides real-time USD price updates for The Root Network (ROOT). The Root Network price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time ROOT to USD exchange rates. Is The Root Network (ROOT) a Good Investment?
Here’s why you could consider diversifying your crypto portfolio by investing in $ROOT crypto:
The Root Network’s Innovative Technology
ROOT is part of a network that focuses on interoperability and integration with existing blockchain ecosystems like the XRP Ledger and Ethereum Virtual Machine, positioning it at the forefront of blockchain innovation.
The support for collectibles bridges in The Root Network can enhance liquidity, utility, and visibility for assets residing on other chains. This feature may encourage cross-chain asset utilization and foster a diverse ecosystem of digital assets within the network.
Focus on The Open Metaverse
With its focus on facilitating "The Open Metaverse," ROOT could appeal to investors interested in the growth and potential of metaverse-related technologies and platforms.
ROOT Token Utility
The ROOT token has multiple uses within its ecosystem, including governance, securing the network, rewarding node operators and validators, and in-game utility, which might increase its demand and value.
Strong Backing From Ripple and FLUF World
The network is backed by established entities like Ripple and FLUF World, providing it with a strong foundation and potential for growth.
Access to Emerging Technologies
Investing in ROOT might provide exposure to emerging technologies in the blockchain space, including dynamic NFTs, decentralized finance, and AI protocols.
What Is The Root Network Price Prediction?
While the inherent volatility in the crypto market makes it challenging to offer an accurate ROOT crypto price prediction, the following factors could help you understand the price movements in The Root Network crypto better:
Adoption of The Root Network
Increased adoption of The Root Network and its various features, especially in the metaverse and NFT spaces, could drive up demand for ROOT. This could support The Root Network price in the crypto market.
Developments in The Root Network Roadmap
Advances or updates in the network's technology, improving its interoperability and functionality, could attract more users and investors. Positive developments and progress could increase the ROOT crypto price.
Crypto Market Sentiment
General cryptocurrency market trends and investor sentiment can significantly impact the ROOT to USD price. A positive sentiment could drive bullish moves in the $ROOT price, while a negative sentiment among crypto investors could cause sell-offs, weakening the price of The Root Network token.
How to Stake ROOT on The Root Network
Here’s how ROOT staking on The Root Network works:
1. Buy ROOT tokens on KuCoin and transfer them to a compatible wallet like MetaMask or Wallet Connect.
Note: While trying to withdraw your ROOT from KuCoin, please use an ERC20 wallet, and not your FuturePass address.
2. Visit the FuturePass dashboard, create a FuturePass, then bridge your ERC20 ROOT to your FuturePass address (e.g 0xffff).
3. Click Stake from the ‘Tokens’ tab in the dashboard, this will launch the ROOT staking interface, connect your FuturePass.
4. Click Stake ROOT and enter the number of ROOT tokens you want to stake in the Stake Amount box.
5. Click Confirm amount and approve the transaction from your wallet.
6. Sit back, earn rewards, and grow your holdings by staking ROOT on The Root Network.
What is the all-time high price of The Root Network (ROOT)?
The all-time high price of The Root Network (ROOT) is $0.46534. The current price of ROOT is down 93.04% from its all-time high.
What is the all-time low price of The Root Network (ROOT)?
The all-time low price of The Root Network (ROOT) is $0.01539. The current price of ROOT is up 110.35% from its all-time low.
How much The Root Network (ROOT) is there in circulation?
As of 12 22, 2024, there is currently 1.45B ROOT in circulation. ROOT has a maximum supply of 12B.
What is the market cap of The Root Network (ROOT)?
The current market cap of ROOT is $46.84M. It is calculated by multiplying the current supply of ROOT by its real-time market price of $46.84M.
How do I store The Root Network (ROOT)?
You can securely store your The Root Network in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your ROOT include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.