Ripple Doubles Ethereum Market Cap As Devs Calm Market
Ripple now has double the market cap of its nearest rival Ethereum as emission updates from developers seem to reassure markets.
Ripple’s market cap is now almost double Ethereum’s as continued rapid growth sees the asset today’s only altcoin winner.
Countering a broad downturn in altcoin prices, Ripple is now worth over $0.40 per token, a rise of 39 percent in the 24 hours to press time and twice its value just three days ago.
Its market cap is over $15 bln compared to Ethereum’s $8 bln.
Ethereum is now firmly in the number three spot in terms of cryptocurrency market cap, while enthusiasm behind Ripple continues unabated despite community suspicion.
An announcement on Tuesday in which developers appeared to safeguard future XRP distribution may well have led to the latest celebratory investor moves.
“...We have heard concerns in the market about uncertainty surrounding our ongoing XRP distribution,” the message reads.
“The root of this uncertainty is the notion that Ripple might one day sell its 61.68B XRP in the market at any time a scenario that would be bad for Ripple! Our self-interest is aligned with building and maintaining a healthy XRP market.”
While altcoin markets are notoriously changeable in the current climate, Bitcoin has recovered from last week’s negative press surrounding the WannaCry cyberattack to near all-time highs seen previously.