Bitcoin Surpasses Meta by Market Cap, Shiba Inu Becomes 10th Largest Crypto, XRP New Listings on Horizon From Major Crypto Exchange: Crypto News Digest by U.Today
U.Today has prepared summaries of the top three news stories over the past day.
Bitcoin (BTC) zeroing in on Alphabet after surpassing Meta
In a significant development, Bitcoin's market capitalization has surpassed that of Meta (formerly known as Facebook), according to data provided by companiesmarketcap.com. At the moment of writing, the market cap of the world's largest crypto constitutes $1.299 trillion, while Meta's market cap stands at $1.274 trillion. Now, Bitcoin trails only six of the largest publicly traded companies in the world, including tech giants and an energy giant. Bitcoin's next "target" is considered to be Alphabet, the parent company of Google, whose market cap is currently $1.657 trillion. The unprecedented surge in Bitcoin's market cap comes amid a broader rush of investments into tech stocks and cryptocurrencies. According to Bank of America, inflows into tech stocks has reached $4.7 billion, with crypto market cap recently surpassing $2.5 trillion.
Shiba Inu (SHIB) becomes 10th largest crypto amid 295% price boom
Following Bitcoin's suit, the Shiba Inu meme cryptocurrency has also reached a major milestone in terms of its market capitalization. Data by CoinMarketCap demonstrates that Shiba Inu is currently sitting in 10th place, by market cap after displacing Avalanche (AVAX). Now, SHIB can boast a market cap of $20.1 billion. This signifies an outstanding achievement for the dog-themed meme coin, as only a few weeks ago it almost dropped out of the top 20 due to its inability to surpass the $0.00001 resistance level. As of now, Shiba Inu is attempting to retest the $0.00004 price point, which, if successful, would represent the best performance since October 2021. At the moment of writing, SHIB is changing hands at $0.0000342, down 6.39% over the past 24 hours, per CoinMarketCap.
Tomiwabold OlajideNew XRP listings on horizon from major crypto exchange
In its recent X post from March 5, Bitrue, major crypto exchange, hinted at listing new XRP pairs, igniting excitement among members of the XRP community. "Bitrue is planning to list new XRP pairs. Tell us what you want to see," reads the post. Bitrue is hinting at new XRP listings at a critical time for both the exchange and the broader crypto market. The token has been involved in legal battles, with the major one being the Ripple-SEC case. However, in July 2023, after Ripple scored its historical victory in the lawsuit, XRP was declared not to be a security, winning many doubting investors back. The prospect of additional XRP listings on Bitrue carries significant implications for traders and investors. In addition to providing greater accessibility to XRP, it represents fresh optimism for the token's future potential.
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