Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
The sixth largest cryptocurrency by market capitalization, XRP, has eclipsed Bitcoin as the most traded asset on South Korean exchange <a href="https://coinmarketcap.com/exchanges/bithumb/">Bithumb</a>.
According to <a href="https://coinmarketcap.com/currencies/xrp/">CoinMarketCap</a>, XRP has surpassed Bitcoin in terms of trading volume on Bithumb, one of South Korea's largest crypto exchanges.
On the Bithumb exchange, the XRP/KRW trading pair accounted for 17.85% of all volumes, totaling $30,818,226, and is the most traded asset, surpassing Bitcoin (BTC).
XRP overtaking Bitcoin in trading volume at the moment remains significant because XRP is not experiencing a surge that would fuel a massive increase in trading volume. XRP is falling in step with the rest of the cryptocurrency market. In the last 24 hours, BTC was down 1.16% to $30,456.
XRP was likewise down by 1.94% in the last 24 hours to $0.474 and down 4.14% in the last seven days.
<a href="https://twitter.com/KaikoData/status/1664246455698112514">Kaiko</a>, a cryptocurrency research firm, tries to unravel the reason for XRP's dominance and popularity on Korean crypto exchanges, which is surpassing that of Bitcoin.
In an analysis released at the start of June, Kaiko noted that Korean crypto markets have a very unique market structure. This is because traders prefer altcoins to BTC and ETH as the major assets. Kaiko went on to say that XRP is the most traded altcoin year to date (YTD).
<h2 id="xrp-shows-slight-bullish-sign">XRP shows slight bullish sign</h2>
On June 26, on-chain analytics firm <a href="https://twitter.com/santimentfeed/status/1673440330782478336">Santiment </a>highlighted that XRP was showing a slight bullish sign due to mild trader capitulation. "As crypto's largest assets are ranging to start the week, XRP is showing a slight bullish sign due to mild trader capitulation. Historically, coins moving at a greater ratio at a loss compared to profit have a higher likelihood of rising in value," Santiment wrote.
<blockquote class="twitter-tweet">
 &nbsp;
</blockquote>
Crypto analyst Ali reports a spike in XRP active addresses, citing historical precedent in this case: "The last three instances when XRP price jumped were preceded by a spike in the number of active XRP addresses. On-chain data from Santiment has recorded a spike in network activity over the past few days. Could history repeat itself?"

XRP Beats Bitcoin (BTC) as Most Popular Asset on South Korea's Bithumb

目录

U_Today

发布于 2023年6月28日的其他文章

Is It Too Late to Invest in Solana (SOL) and Meme Coin Champ DigiToads (TOADS)? Analysts Weigh In

Bitcoin (BTC) ETF by ARK Invest Now Possible After This Epic Maneuver

Ripio, Latin American Crypto Firm, Approved as Exchange in Spain

UNCX Network Introduces UniSwap v3 Liquidity Locking Support

Top 3 Meme Coins To Buy In June: Here’s Why Alex The Doge And Dogecoin Should Be On Your List

Dogecoin Plaintiffs Move Against Musk After Leak: Reuters

订阅我们免费的电子期刊，获取每日最新加密领域动态！