Ripple crosses $ 3, growing more than 130% in a week, while Bitcoin’s dominance reaches a new all-time low.
Ripple( XRP), currently the second largest cryptocurrency by market capitalization, has continued its recent rally, crossing the moneda 3 per coin mark. At the time of publication, the altcoin was trading at an average of $ 3.12.
Ripple’s price has risen nearly 49,000 percent in the past twelve months. The cryptocurrency spent $ 2 last week, seeing a 130% increase since December 27.
This has consolidated Ripple’s number two position with a market capitalization of $ 121 billion, almost half that of Bitcoin.
What is Ripple?
Ripple is marketed as a Blockchain-based payment solution for global payment transactions at the enterprise level. The addition of the currency in the Bloomberg price terminal in mid-December arguably started the substantial rally.
A recent “cryptocurrency mania” in the South Korean market, during which almost half of Ripple’s trading volumes occurred several multiple exchanges in the country, has also contributed to the rise of the altcoin.
Increase of altcoins
Cryptocurrency investors and believers have also been looking for other altcoins recently, creating substantial gains in the top 30. The most notable gains include Cardano (ADA) and Stellar (XLM), which have jumped more than 30% on the day, as well as Status (SNT), which experienced a more than 100 percent increase in the last 24 hours.
Meanwhile, in January. The dominance of 3 BTC (percentage of total market capitalization) reached a new all-time low of 34.6 percent.