XRP Pumps 13%, Has 1.5X Volume of Bitcoin on Coinbase
XRP continues to perform strongly, rising 13% to $2.73 in the past 24 hours.
Capital poured in, and XRP’s trading volume on Coinbase was more than 150% higher than Bitcoin’s. Meanwhile, ICO token Crypto All-Stars has also seen huge demand, raising close to $8 million.
WisdomTree XRP Spot ETF Sparks Rally
Ripple’s XRP price has been surging since Donald Trump won the US presidential election in November.
The company is currently trading at a monthly premium of 440%, and its market capitalization has increased by $100 billion in one month.
As a result, XRP is trading above its 2021 bull run peak and just 29% above its 2018 all-time high (ATH).
Today’s rise in XRP was spurred by Wall Street money management firm WisdomTree’s application for an XRP spot ETF. They will join Bitwise and Canary Capital in the fray.
The ETF is designed to provide investors with price exposure to XRP through shares tradable on the Cboe BZX exchange.
XRP trading volume on Coinbase surpasses Bitcoin
Trading volume is a key measure of market attention, and right now, it shows that all eyes are on XRP.
Coinbase is the second most active centralized exchange by trading volume and the most popular exchange in the United States. And now, trading volume The price of XRP is 1.5 times that of Bitcoin.
In the past 24 hours, the exchange’s XRP trading volume reached $2.3 billion, accounting for 21.39% of its total trading volume. Bitcoin ranks second with $1.5 billion, accounting for 14.65% of Coinbase’s trading volume.
Notably, demand for XRP on Coinbase is generating a significant price premium on the platform.
This is a similar story to Binance. XRP leads the way with $5.5 billion in trading volume and 10% market share.
XRP’s explosive rise this month has instilled more confidence among cryptocurrency traders. XRP’s market capitalization increased by $100 billion in a month, setting the tone for a parabolic trend in the cryptocurrency bull market.
This way, traders start investing in coins that they think are likely to rise next. Hedera and Kaia were the best performers among large-cap stocks, each up 39% today.
At the same time, emerging market Crypto All-Stars also attracted attention, with its pre-sale financing soaring to $8 million.
Analysts support new altcoin All Star Coin 100 times after IEO
Crypto All-Stars is an innovative project that creates utility in the field of meme coins. It is building a memecoin staking layer that will allow users to deposit their DOGE, SHIB, PEPE, etc. to earn passive rewards.
Often the only use of meme coins is to “buy low and sell high.” Still, the industry is worth $130 billion. Crypto All-Stars hopes to solve this problem by creating a tangible way for holders to spend their Meme coins.
Users lock their tokens in Crypto All-Stars’ “MemeVault,” which will generate passive rewards over time. However, it’s important to note that they must hold $STARS tokens, and their rewards depend on how much they own.
https://twitter.com/all_stars_coin/status/1860745219719020763
This creates a dynamic where holders of all the top meme tokens will compete to accumulate the same tokens, which analysts believe is a moment with huge potential.
For example, Crypto June recently said it could do 100x.
The analyst noted that pre-sales will end in 20 days, meaning potential buyers should act quickly to avoid missing out.
With the cryptocurrency market taking off this month, it’s no surprise that traders are anticipating such significant gains from new innovative projects like $STARS.
