XRP trading volume exceeds Bitcoin (BTC) on Coinbase as US investor interest grows

XRP, the third largest cryptocurrency by market cap, has replaced Bitcoin (Bitcoin) as the most traded digital asset on Coinbase (COIN), the Nasdaq-listed cryptocurrency exchange that is seen as a proxy for US demand.

Bitcoin has retained its position as the most traded cryptocurrency asset on Binance, the largest exchange by volume, and is banned from US investors.

The volume trends are consistent with a rebound in US demand for XRP, which is closely linked to the blockchain-based payment network Ripple, As suggested Coinbase premium indicator 1 week ago.

Interest in XRP, the biggest winner after Donald Trump’s election victory in November, has surged after Ripple CEO Brad Garlinghouse increased… He met the president-elect About two weeks ago. It has also been supported by Speculating on the XRP exchange-traded fund (ETF) approved in the United States

At the time of publication, XRP/USD reached 25% Of Coinbase’s 24-hour trading volume of $6.86 billion. BTC/USD ranked second, contributing 20%, while ETH/USD took third place, according to data source Coingecko. On Binance, XRP was the second most traded coin.

Since November, the price of the payments-focused cryptocurrency has risen more than 600% to $3.33, the highest level since 2017. The valuation has increased by a third this week alone, according to CoinDesk and TradingView Data.

The gathering is supported by A Register futures open interest And an increase in the number of large owners. Data tracked by TradingView and CoinMetrics shows that the number of unique addresses containing at least $100,000 in cryptocurrency has risen to 108,540.