Diesen Artikel teilen
XRP Nears Longest Stretch as World's Second-Largest Cryptocurrency
XRP has remained the world's second largest cryptocurrency by market cap for the past 11-days – its longest stretch at No. 2 since 2016.
Von Sam Ouimet
Make us preferred on Google
XRP has now officially held its ranking as the world's second largest cryptocurrency by market capitalization for the longest period since 2016.
On Nov. 15, the market capitalization of XRP, a cryptocurrency long connected to San Francisco blockchain startup Ripple, reached $19.39 billion, enough to establish it as the world’s second largest cryptocurrency after overtaking ether , long the market's reigning number two asset.
STORY CONTINUES BELOW
Verpassen Sie keine weitere Geschichte.Abonnieren Sie noch heute den Crypto Daybook Americas Newsletter. Alle Newsletter ansehen
This 11-day stretch is the longest XRP has spent at number two since it held the title for 13 days from Jan. 26 to Feb. 8 in 2016.
In fact, the dominance rate for XRP, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the cryptocurrency, reached a 45-week high of on 12.74 on Nov. 20 (it has since retreated slightly to just above 11 percent). For comparison, bitcoin’s dominance rate is currently 53.9 percent while the rate of ether, now the world's third-largest cryptocurrency registers 9 percent.
Notably, since XRP began its market share uptick on Nov. 15, the broader cryptocurrency market has witnessed a significant sell-off, losing nearly $90 billion and 40 percent of its total market capitalization to date.
Needless to say, the market rout has resulted in significant depreciation to many if not all cryptocurrencies against the U.S. dollar. XRP and ETH are reporting 22 percent and 37 percent respective losses in the 11-day span while the world's largest cryptocurrency is down 32 percent.
Despite XRP's advance in the market capitalization ranks, ETH, has recorded significantly more trading volume as of late. In the last 24 hours alone, ETH's exchange volume of $2.47 billion is nearly twice as large as XRP's $1.3 billion, according to CoinDesk's Crypto-Economic Explorer (CEX).
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Bitcoin Ripple image via Shutterstock
Mehr für Sie
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Was Sie wissen sollten:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Mehr für Sie
Bitcoin, ether extend declines as leverage unwind accelerates: Crypto Markets Today
Crypto markets fell further overnight as bitcoin and ether extended losses, metals tumbled and liquidation pressure hit leveraged traders across derivatives markets.
Was Sie wissen sollten:
- Bitcoin and ether extended declines as the crypto market compounded Thursday's selloff.
- Silver and gold also fell, adding to broader market weakness alongside a firmer dollar.
- Crypto liquidations hit $1.8 billion, while bitcoin dominance slipped as traders rotated into riskier altcoins.
