Blockchain analytics company Kaiko has recently announced that Ripple’s XRP is the most traded altcoin this year, with a total trading volume exceeding 150 billion USD as of the current moment.
Notably, XRP has outperformed other altcoin competitors, leading the pack with a trading volume of nearly 100 billion USD. Following XRP is Solana’s SOL with approximately 100 billion USD in trading volume, and then DOGE, BNB, and MATIC with over 50 billion USD traded for each of these tokens.
The significant growth in XRP’s trading volume can be attributed to the increased interest from investors after Ripple’s victory against the U.S. Securities and Exchange Commission (SEC). This event led to XRP being listed on major exchanges like Coinbase, providing favorable conditions for trading and enhancing liquidity for the cryptocurrency.
However, despite the price recovery after the court ruling, XRP has also experienced some losses, dropping over 7% in value in the past week. Currently, the value of XRP stands at around 0.7 USD, with a 1.4% increase in the past 24 hours, and a market capitalization of approximately 37 billion USD.
The decrease in XRP’s value could be related to the overall market situation, with speculation about the possibility of the Federal Reserve raising interest rates. Nevertheless, XRP continues to be a popular and promising altcoin with strong trading potential on major exchanges.