A week after the value of Ripple’s native XRP token topped $1 for the very first time ter history, the cryptocurrency surged again today, rising 34 procent.
At press time, the token, used for transactions on the San Francisco startup’s RippleNet cryptocurrency network, reached $1.87, a figure that wasgoed almost dual its listed price last week, gegevens shows. The price rally arrived after a long period of inactivity ter the market, which had held sustained at $0.20 overheen the past six months.
Spil a result, the market capitalization of XRP is now catching up with those of ethereum and bitcoin, according to gegevens webpagina CoinMarketCap. XRP is now the third largest cryptocurrency by market capitalization, with the value of its combined token supply now $72 billion.
Gegevens from CoinDesk indicates that much of today’s price improvement comes from today’s morning trading session (UTC 06:01 a.m. to 12:00 p.m.), where it recorded a 14.43 procent increase ter the last six hours.
What’s also importante is that completo trading volume of XRP within 24 hours predominantly came from exchanges based ter South Korea.
Gegevens from CoinMarketCap shows that three South Korean exchanges, Bithumb, Coinone and Korbit account for 31.Five, 7.Trio, and Two.07 procent of the worldwide XRP trading, respectively. Te addition, within thesis exchanges, each has more than half of its trading activities concentrating on XRP, gegevens also shows.
The price rally also goes after the South Korea government’s freshly issued policy that will geobsedeerd cryptocurrency exchanges from permitting anonymous accounts, a stir to curb market speculation te the country.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake te Ripple.
Pic via CoinDesk’s archive.
The leader te blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a stringent set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests te cryptocurrencies and blockchain startups.