Hong Kong Virtual Asset Consortium (HKVAC) has thrust XRP into the spotlight by welcoming it into the exclusive fold of its virtual asset index. The announcement came as a watershed moment for the cryptocurrency, as it secured a 6.94% share in the HKVAC Cryptocurrency Global Large Top5 Index and Equal Weight Index.
This inclusion propels XRP into the league of esteemed digital currencies, with only Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) boasting larger shares, each standing at 15%.
The move by HKVAC is not arbitrary; stringent criteria govern the selection process. Virtual assets must maintain a median market capitalization of at least $10 million over the preceding three months and sustain a median daily traded value of no less than $100,000 during the same period.
Why now?
XRP's meteoric rise in the HKVAC index may find its roots in the recent legal victory against the SEC. In a landmark decision, the SEC's case against Ripple concluded, affirming XRP's non-security status. This clarification proved pivotal, establishing XRP as a reliable investment choice and winning the confidence of the global crypto community.
The initial verdict was rendered in July, and with the SEC's subsequent appeal dismissed, XRP's triumph became unconditional, further cementing its position in the cryptocurrency market.
As XRP stakes its claim in the Hong Kong index, the digital currency's future appears brighter than ever, marking a significant milestone in its journey toward broader acceptance and adoption on the global stage.
Arman Shirinyan
Yuri Molchan
Godfrey Benjamin
