HomeNewsRipple's XRP Surges Ahead: Tops Bitcoin in Trading Volume on HTX

Ripple’s XRP Surges Ahead: Tops Bitcoin in Trading Volume on HTX

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  • XRP recorded the highest trading volume on HTX, surpassing Bitcoin with a volume of $112 million.
  • Bitcoin later reclaimed the top spot on HTX with a volume of $68.56 million, while XRP remained the most traded on Uphold.

XRP’s Rising Dominance in Trading Volume

In a recent reveal by HTX Global, one of the leading cryptocurrency exchanges, Ripple‘s XRP has emerged as the most traded coin, eclipsing the trading volume of Bitcoin (BTC) and Solana (SOL). On HTX, XRP achieved an impressive trading volume of $112 million as of January 7, 2024, significantly outperforming Bitcoin’s $65 million and Solana’s $70 million.

XRP’s Prominence in Asian Markets

This surge in XRP’s trading volume is not just a numerical triumph; it underscores the growing prominence of XRP in the Asian crypto community. The high trading volume of XRP on HTX reflects a shift in market interest and investor sentiment, marking XRP as a standout coin on the platform.

Furthermore, a poll conducted by HTX to gauge market participant opinions on recently traded tokens showed considerable support for XRP, with 36.5% of respondents voting in its favor, closely followed by Solana at 40.2%.

Bitcoin’s Comeback and Market Dynamics

Despite XRP’s initial lead, the latest data from HTX’s official website indicates a dynamic shift in trading volumes. Bitcoin has now surpassed XRP, recording a trading volume of $68.56 million, while XRP’s volume has decreased to $51.70 million, placing it in the second position.

This change in trading volumes between XRP and Bitcoin might be influenced by the current bearish trend in the altcoin market, which saw XRP and SOL experience significant losses over a week. In contrast, Bitcoin demonstrated resilience by reclaiming the $44,100 mark.

XRP’s Continued Dominance on Uphold

In the broader context of the global cryptocurrency market, XRP continues to hold a dominant position on Uphold, a prominent U.S.-based exchange. On Uphold, XRP commands a substantial 28.08% of the total trading volume, with Bitcoin trailing at a lower percentage of 13%.

In summary, the fluctuating trading volumes of XRP and Bitcoin on platforms like HTX and Uphold highlight the ever-changing landscape of the cryptocurrency market. As investor preferences and market trends evolve, the competition among top digital assets remains a key indicator of the sector’s dynamic nature and the shifting interests of the crypto community.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628