Saturday, October 23, 2021
Home Crypto News Analysis Ripple (XRP) Now Accounts for 3% of the Total Cryptocurrency Market Cap

Ripple (XRP) Now Accounts for 3% of the Total Cryptocurrency Market Cap

- Advertisement -

The market capitalization of the fourth largest crypto in the world is almost $75 billion that makes Ripple (XRP) account for 3.2% of the total cryptocurrency market cap.

Over the past 7 days, XRP has jumped more than 40% becoming the world’s 4th most valuable digital currency. XRP is currently trading above $1.6 with a market capitalization of over $74.24 billion.

According to Coinmarketcap, XRP’s market cap has grown significantly over the past few weeks. XRP now accounts for almost 3.2% of the total market capitalization of digital currencies.

Bitcoin remained the most dominant crypto with approximately 47.8% market dominance. Currently, the market dominance of Ethereum is about 15.6%, followed by Binance Coin (BNB) with a dominance of 4.2%.

The price of XRP has increased by more than 500% since the beginning of this year. XRP was trading at around $0.23 on January 1, 2021. The price gained momentum in April, when the digital currency jumped from $0.569 to $ 1.94, the highest level in more than 3 years.

XRP’s overall market dominance has been growing since the beginning of April. The latest surge in Ethereum, BNB, and XRP is causing a sharp decline in Bitcoin’s market dominance.

According to Coinshares report, XRP had a significant jump in weekly institutional inflows in April, as the digital asset raised an estimated $33 million in the second week of April.

XRP weekly institutional inflows

The total difference between the market capitalization of XRP and Binance Coin (BNB) is around $20 billion.

Overall, the market capitalization of digital currencies reached $2.25 trillion on Monday, the highest ever.

Bitcoin (BTC), currently has a market cap of more than $1.10 trillion.

- Advertisement -
Albert Brown
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Tortola, British Virgin Islands, 22nd October, 2021, Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million...

Binance Smart Chain Is Bringing Fee-Burning Mechanism Like Ethereum

The Binance Smart Chain (BSC) has published a proposal to improve the BEP-95 ecosystem, This new mechanism will be similar to the Ethereum chain...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.