Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset
Cryptocurrency exchange Kraken has become the latest platform to halt XRP trading for US residents from January 30, 2021, at 1:00 UTC due to SEC filing against Ripple Labs. For those users residing in other countries, XRP markets will continue to operate uninterrupted.
US residents with open XRP spot positions on the margin on Kraken are also required to satisfy their margin obligation by January 28, 2021, at 11:59 pm PT, or their positions will be liquidated.
While US residents won’t be able to trade XRP, these users will still be able to deposit, hold, and withdraw XRP on the exchange. Also, this will not affect Spark token airdrop.
As the list of crypto outlets suspending XRP trading for US users continues to get bigger, the digital asset continues to lose its value.
Among the top 100 crypto assets, XRP is not only the one with over 50% losses in the last 30 days but is also among a handful of cryptocurrencies that are experiencing a downtrend.
Since Bitcoin took to ranging this week after the pullback, altcoins are using this opportunity to rally and DeFi tokens have simply exploded so much that Polkadot (DOT) has replaced XRP as the fourth largest cryptocurrency by a market cap of $14.48 billion XRP -0.36% XRP / USD XRPUSD $ 0.42
$0.00-0.36% Volume 3.98 b Change $0.00 Open $0.42 Circulating 45.4 b Market Cap 19.12 b 2 d GlobaliD Launches New XRP MasterCard Debit Card; Earn Rewards Up to 5% Cashback 3 d Ripple Rolls Out XRP Ledger Updates to Boost Software Efficiency 4 d Users Asked to Return Bitcoin Purchased After Glitch Drops The Price to $6,000 On This Exchange . Polkadot has been enjoying an uptrend lately, hitting an all-time high at $18.30 in the process DOT 7.07% Polkadot / USD DOTUSD $ 33.63
$2.387.07% Volume 4.41 b Change $2.38 Open $33.63 Circulating 914.21 m Market Cap 30.75 b 1 d Grayscale Is Considering 23 New Crypto Assets, Especially DeFi Coins, for Offering 2 d Polkadot (DOT) Proposes Public Utility Parachains to Provide Easy Access to Resources 4 d Uniswap and SushiSwap Attract Users During Market Volatility, Registering Record Volumes .
— $trong (@StrongHedge) January 15, 2021
XRP is currently trading at $0.289 with a market capitalization of $13 billion.
On data provider Messari, even Cardano ADA 6.13% Cardano / USD ADAUSD $ 1.27
$0.086.13% Volume 13.92 b Change $0.08 Open $1.27 Circulating 31.95 b Market Cap 40.69 b 1 d Grayscale Is Considering 23 New Crypto Assets, Especially DeFi Coins, for Offering 4 d Cardano (ADA) Has Significant Upgrades Coming to the Network: Founder Charles Hoskinson 1 w Cardano (ADA) ‘Mary’ Hard Fork Combinator (HFC) to Launch on Mainnet Next Month has jumped above XRP at the 5th spot with Liteocin LTC 3.26% Litecoin / USD LTCUSD $ 165.96
$5.413.26% Volume 5.45 b Change $5.41 Open $165.96 Circulating 66.57 m Market Cap 11.05 b 1 d Grayscale Is Considering 23 New Crypto Assets, Especially DeFi Coins, for Offering 2 d Robinhood Adds 6 Million New Crypto Users in First 2 Months; 2021 Starting With A Bang 4 d Users Asked to Return Bitcoin Purchased After Glitch Drops The Price to $6,000 On This Exchange ready to take even the 6th spot from XRP.