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Ripple becomes the biggest Altcoin

Ripple (XRP) has outperformed Ethereum as the largest altcoin by market capitalization as a result of the surge that the community of cryptocurrency systems shared.

31.Dec.17 8:00 AM
By Daria Zaytseva


Ripple becomes the biggest Altcoin

After this week the payment system’s token reached the level of $2.65, investors note revenue that exceeded 1000 percent in just three weeks. In early December, XRP traded for just $0.24.

Several altcoins have seen astronomical benefits by the end of this year, as Bitcoin's own impulse fueled imitation behavior, which resulted in new record highs for assets, including Monero, Ethereum and Ethereum Classic.

However, with a price of $91 billion on Saturday in the press, it's XRP, which has stolen the show from Ethereum, which currently has a market capitalization of $68 billion. Meanwhile, the total market share of Bitcoin has reached new record lows below 38 percent.

Reasons for Ripple’s growth are associated with new partnerships with traditional finances, institutions seeking to use their technologies to reduce costs and save time.

Nevertheless, despite their newfound successes, Bitcoin figures seem more durable, emphasizing the centralized structure of the project and the comparative lack of use cases for XRP compared to the platform itself.

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