Ripple is the Second Most Valuable Cryptocurrency Now: Draws Ethereum aside to to stand Second after Bitcoin
Dec 30, 2017 Posted / 2075 Views
According to CoinMarketCap, Ripple has soared by a staggering 75.99% and reached an all-time high, setting Ethereum aside in terms of Market Cap. Now it is the second biggest currency only after the big boss, Bitcoin. If accessing the last two weeks, it has shown a direct increase of an unbelievable 540%. Ripple which was below a Cent in 2016 rose to a Dollar's value last week and topped at $2 this Friday afternoon. Doesn’t this surprise that this currency is up more than 34,700 percent this year? Giving a shoulder’s competition to Ethereum for months, Ripple now has a market cap of $103 billion, surpassing Ethereum's $68 billion.
Abbreviated to XRP, Ripple which made its arrival in 2012 about two years later than Bitcoin, was being seen with uncertainty at that time. And also the fact that it's a lot different than other cryptocurrencies in the market, is something that can't be ignored. American Banker had once put, "from banks' perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin." The official name of a San Francisco based startup firm, Ripple aimed at using blockchain technology to develop a payments network for banks and other financial institutions. According to the official website, XRP can carry out the same transaction in 4 seconds for which Bitcoin takes over an hour. Now about a 100 financial institutions are using its technology already. And some banks from the crypto-age countries like Japan and South Korea are already testing Ripple’s system for cross-border payments.
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The arriving year seems to have brought a good time for the currency for sure! We wish the same for our followers! Keep updated!
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