The trading volume of popular cryptocurrency XRP on the leading U.S. crypto exchange over the past 24 hours has temporarily exceeded the combined turnover of Bitcoin (BTC) and Ethereum (ETH) today.
According to data presented on CoinMarketCap, the turnover of XRP on Coinbase during the period in question amounted to almost $2 billion, while the trading volume of BTC and ETH amounted to no more than $1.9 billion, of which the main cryptocurrency was responsible for almost 79%. Therefore, the dominance of XRP in terms of volume on the largest exchange in the U.S. at one point amounted to more than 20%.
This might have been more surprising if not for the hype around XRP that has erupted in recent weeks, as the price of one of the largest cryptocurrencies has risen nearly 400%, and how it has done so – almost nonstop. As a result, XRP has become the third largest crypto asset on the market, its capitalization exceeds $140 billion and crypto enthusiasts are seriously speculating whether the altcoin can upend not only Ethereum but also Bitcoin itself.
Now, trading on Coinbase has returned to normal, and the combined turnover of Bitcoin and Ethereum exceeds that of XRP, but the latter still holds the top spot in terms of volume, currently at $2.086 billion.
In total, XRP’s cumulative trading volume across all markets now stands at $50 billion, according to CoinMarketCap. According to this indicator, the token is the third largest crypto asset after the popular USDt stablecoin and BTC.
