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I'm thinking specifically of Solana, which topped XRP in market cap to become the fifth-largest cryptocurrency at the end of 2023. This year, Solana is up about 35%, further widening the gap.
XRP (CRYPTO: XRP) is seeing big gains in Tuesday's trading. Meanwhile, the price of Bitcoin was up 4.5%, and the price of Ethereum was up 6.2%. In addition to bullish momentum for the crypto ...
It is still unclear how such a reserve would work, but the government currently has about 200,000 bitcoins, worth some $21 billion, that could be the launching point for a strategic reserve.
The market capitalization of a cryptocurrency is calculated by multiplying the price by the number of coins in circulation. The total cryptocurrency market cap has historically been dominated by bitcoin accounting for at least 50% of the market cap value where altcoins have increased and decreased in market cap value in relation to bitcoin.
That caused a significant decline in XRP's market capitalization and created chaos on the markets. [2] [3] According to Bloomberg, in November 2019, Coinmarketcap introduced a Liquidity metric designed to combat fake trading volume. [4] In April 2020, Binance, a cryptocurrency exchange, acquired Coinmarketcap for an undisclosed amount.
Unlike many cryptocurrencies, XRP was pre-mined, with 100 billion tokens created at inception. [8] [13] The XRPL founders gifted 80 billion XRP, the platform's native currency, to Ripple Labs. [4] Ripple Labs holds a portion of XRP and periodically releases tokens into circulation through sales, aiming to maintain market stability.
Aside from broader market-related tailwinds, there are other token-specific factors driving today's positive price action with XRP. On Saturday, XRP saw its open interest surge to a record high.
The following is a list of publicly traded companies having the greatest market capitalization, sometimes described as their "market value": [1]. Market capitalization is calculated by multiplying the share price on a selected day and the number of outstanding shares on that day.