Bitcoin has been, and will continue to be for the foreseeable future, the cryptocurrency that has the highest market cap, considering that it is billions of dollars ahead of its fellow assets. However, XRP and Ethereum seem to constantly be in a battle for the second spot. Ethereum is usually victor, but XRP is presently holding down the second position, according to CoinMarketCap.
Much of the crypto industry is determined by the rise and fall of Bitcoin, and one of those drops happened very recently. As Bitcoin dropped down, so did Ethereum at almost the same percentage. However, while XRP also experienced a loss, they maintained their market cap at a level that held them above Ethereum, at least for the last 24 hours.
At Devcon4, Vitalik Buterin spoke about the Ethereum 2.0 project called Serenity, which is one of the most anticipated upgrades of the token. With the upgrade, the platform is able to implement many features and changes that his team has been working on for a while.
Specifically, it deals with a,
“combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.”
When Brad Garlinghouse, the CEO of Ripple Labs, spoke on Bloomberg TV, he commented that his fast success was due to his platform’s quick technology.
Elaborating, he said,
“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market…Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
Presently, according to data on CoinMarketCap, Ethereum is trading at $178.65, after a drop of 13.47% in the last 24 hours. They are maintaining a market cap of $18,438,221,991, which is keeping them at the third-highest market cap. XRP, however, is still only trading for $0.459763, experiencing a loss of 9.57% in the last 24 hours, which has still kept them at $18,515,471,058.