Dot, the native token of the Polkadot community, has flipped XRP to turn out to be the fourth-ranked token after its value rallied by greater than 40% in simply 24 hours. Since January 11, the token has now gone up by greater than 100% to set a brand new all-time excessive (ATH) of $18.06 on January 16.
With its market capitalization at present standing at over $16.8 billion, the Dot token now surpasses that of XRP by over $4 billion. But earlier than the December 23, 2020 breakout, the Polkadot token had a market capitalization of slightly below $4.5 billion and a median value of $4.70, in line with knowledge from Markets.bitcoin.com. Nonetheless, between then and January 3, the token soared by greater than 100% to shut at $10.35.
But, after this preliminary value surge, the token then briefly stabilized at slightly below $10.35 earlier than dropping to $7.61 on January 11. However, after this short-lived retreat, the token went on one other rally that culminated in Dot displacing XRP.
In the meantime, the displacement of XRP from its fourth place by Dot comes as the previous continues to get delisted by exchanges. For the reason that delistings started, the XRP token has now plunged from the December 17 excessive of over $0.60 to the present value of $0.28.
Moreover, in a transfer that’s possible so as to add extra strain on the token, the Kraken crypto alternate has introduced it’s going to halt buying and selling of the XRP token on January 29. Nonetheless, this transfer is just anticipated to have an effect on US prospects solely.
Do you consider that the XRP token will reclaim the fourth place place? Inform us your views within the feedback part beneath.
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