As an experienced analyst, I have closely followed the cryptocurrency market for several years now. The recent shift in market capitalization between Ripple’s XRP and Toncoin (TON) is a noteworthy development that warrants attention. According to data from CoinCodex, TON has surpassed XRP with a total value of $26.57 billion compared to XRP’s $27.38 billion.
According to data from CoinCodex, the cryptocurrency XRP, which is affiliated with Ripple, now has a lower market capitalization than Toncoin (TON). The current valuations for these digital currencies are estimated at $27.38 billion and $26.57 billion respectively.
The cryptocurrency called TON, which functions as the native currency within The Open Network, has experienced a rise of over 2% in value during the last 24 hours. On the other hand, XRP has seen a decrease of approximately 1.55% during this same timeframe.
Noting significantly, TON has surpassed the performance of 80 out of the top 100 cryptocurrencies in terms of price growth over the last year, boasting an impressive increase of 456%.
I’ve recently come across an intriguing piece of news from U.Today: The Total Value Locked (TVL) within the TON network has now surpassed $500 million. Among its major projects, Tonstakers, DeDust, and STON.fi currently hold the top spots in terms of market capitalization.
XRP has underperformed among the top 100 cryptocurrencies, with analyst Bill Morgan attributing this mainly to its dramatic surge last July following Ripple’s legal victory against the SEC. Despite the initial success, XRP was unable to sustain its momentum and gave back most of its significant gains, making it appear less impressive than other cryptos at first sight.
Despite current developments, XRP remains among the poorest performers in the cryptocurrency market, having dropped approximately 85.9% from its all-time high. This puts it on par with the likes of Cardano (ADA) and Polkadot (DOT).
Meanwhile, XRP remains above TON on CoinGecko, another popular coin-tracking website.
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2024-06-14 12:58