Ripple Shoots Past Ethereum For No. 2 In Crypto Capitalization

Ripple has overtaken Ethereum for the number two spot among cryptocurrencies with a market cap of $8.898 billion compared to Ethereum’s $8.561 billion, according to coinmarketcap.com. Ripple’s recent 24-hour volume also surpassed Ethereum’s at $366.9 million versus $261.26 million.

Source: Coinmarketcap.com

Litecoin remains in fourth place with a distant $1.487 billion market cap.

Ripple Outpaces All Cryptocurrencies

Ripple’s growth rate leads the $1 billion capitalization group in the recent 24-hour period, posting an 83.91 percentage point gain. NEM, number five in market capitalization at just over $1 billion, posted a 37.5% change in market value. Bitcoin posted a 5.95% gain while Ethereum suffered a 3.56% dip, and Litecoin a 1.42% drop.

Ripple’s gain has been credited to a strategic partnership initiative, teaming with Asian and Australian banks in conjunction with its stated goal of acting as a PayPal-like mechanism for large interbank transfers.

Ripple in March announced a new partner in Japan’s largest bank, MUFG. The Japanese banking giant, which is also the

Read more ... source: CryptoCoinsNews

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