Advertisement
AD

Main navigation

Advertisement

Solana Jumps XRP in Market Cap and Leads in Weekly Gains: Details

Advertisement
Fri, 1/04/2022 - 11:49
Solana Jumps XRP in Market Cap and Leads in Weekly Gains: Details
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to CoinMarketCap data, Solana presently ranks sixth in terms of market capitalization, surpassing XRP. With a present market valuation of $40.51 billion, Solana now ranks ahead of XRP's market cap of $39.24 billion.

Advertisement

Solana is also outperforming the top 10 major cryptocurrencies in weekly gains, up 21.65% in the past seven days. Terra (LUNA) falls behind with a 9.83% gain over the past seven days. The majority of cryptocurrencies tanked in the last 24 hours, erasing both daily and weekly gains.

Article image
Source: CoinMarketCap

The cryptocurrency market is struggling to recover after the European Parliament voted in favor of prohibiting anonymous crypto transactions. Nearly all of the cryptocurrencies in the top 100 were losing value at press time, mostly recording losses between 4% and 11%.

"Ethereum killer" Solana (SOL) is marginally down in the past 24 hours, according to data provided by CoinMarketCap. XRP has also shed over 6.31% within the same time frame.

Advertisement

Despite the market dip, positivity remains amid earlier developments. New York-based exchange-traded product sponsor WisdomTree recently announced that its Solana, Cardano and Polkadot exchange-traded products have been listed in France and the Netherlands. The two ETPs have started trading on Euronext exchanges located in Amsterdam and Paris. The products boast a total expense ratio (TER) of just 0.95%. It measures the total costs associated with operating a certain investment fund.

Earlier this week, the Solana, Cardano and Polkadot ETPs were also launched on Zurich-based SIX Swiss Exchange and Frankfurt-based Xetra.

1 billion XRP unlocked from escrow

As covered by U.Today, blockchain data tracker WhaleAlert reports that Ripple has unlocked a staggering billion XRP from escrow on the first day of a new month to add some of it to the circulating supply.

In the meantime, more than 410 million XRP coins have been shoveled by high-end digital exchanges and addresses that Whale Alert marked as "unknown."

Ripple has been releasing one billion XRP from escrow since the start of 2017, with the goal of unlocking 55 billion Ripple-affiliated coins. In the past couple of years, Ripple has been adding 200 million from a released amount to circulation and locking back in escrow 800 million, sometimes 900 million.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD