XRP takes the lion’s share as the most staked asset on Bitrue’s Power Piggy staking service, along with Bitcoin (BTC).
XRP has emerged as the most staked asset on Bitrue’s Power Piggy, a crypto staking or investment product where users earn passive income. The crypto exchange disclosed on Twitter today that the top three Power Piggy assets are XRP, Xinfin (XDC), and Bitcoin (BTC).
🤔 Top 3 Power Piggy Assets on Bitrue
Find out more about the project👉 https://t.co/MocxElcUuD
— Bitrue (@BitrueOfficial) June 9, 2023
Through the official announcement, Bitrue noted that XRP, XDC, and BTC emerged as the top three for various reasons, such as enabling seamless cross-border transactions, facilitating robust solutions in enterprise blockchains, and being the pioneer cryptocurrency, respectively.
Launched in early 2019, Power Piggy supports over 100 cryptocurrencies with interest rates varying from 2% to 12%. Bitrue announced support for XRP in January, promising a 1.5% APR with no lockup period.
Why is XRP ticking?
Deemed a game-changer in the global financial system, XRP seeks to make international transactions more accessible, faster, and more affordable thanks to its decentralized blockchain technology that facilitates near-instantaneous transfers.
Since global money transfers are associated with high fees, XRP is viewed as a cost-effective alternative based on its deep scalability and liquidity. As a result, adoption has skyrocketed, contributing to XRP’s dominance on Power Piggy.
Furthermore, XRP’s adoption recently got a boost after Uphold, a US-based financial platform, partnered with Xumm for users to easily purchase the crypto asset using debit or credit cards.
Meanwhile, XRP’s remarkable run has not gone unnoticed, given that a recent report by Crypto.com revealed that the coin was the best-performing crypto asset, with an impressive 12.8% month-over-month surge, as reported by The Crypto Basic.
Nevertheless, market analyst Ali believes caution should not be thrown to the wind because XRP’s social volume is at its highest point in three months. He noted that even though XRP showed signs of strength, its high social media mentions would be detrimental to its price. XRP is up by 1.68% in the past 24 hours to hit $0.5281 at the reporting time.