Ethereum Reclaims Top Altcoin Position, Rises $500,000 Clear of XRP’s Market Cap
Ethereum (ETH) has beaten Ripple (XRP) to reclaim its position as the largest altcoin by market cap, data from CoinMarketCap confirmed on Jan. 2.
As part of a return to positive gains throughout the top twenty cryptocurrency assets through Tuesday, ETH — which had spent multiple weeks in the number three spot — suddenly reemerged, at press time surpassing XRP’s market cap by around $500,000.
The move comes on the back of fresh controversy for both XRP and its relationship with payment network Ripple.
Confusion over whether or not Ripple can make executive decisions over the XRP spilled over into mainstream consciousness this week after United States cryptocurrency exchange Kraken publicly asked a senior executive for advice on how to name it.
Ethereum, which Justin Tron had criticized for failing to capitalize on progress in its development roadmap, gained 8.3 percent in the 24 hours to press time, making it the best performer in the top twenty.
XRP had advanced just 2.3 percent in the same period.