Blockchain

Ripple second biggest cryptocurrency by market cap

EPA-EFE/SASCHA STEINBACH

Cryptocurrency Ripple soared 55.9% on December 29, to reach an all-time high. The digital currency officially called XRP now holds the second place on the list of largest cryptocurrencies by market capitalization, according to CoinMarketCap. Ripple has a market cap of $73,989,829,701.

At the end of 2016, the digital currency was valued at less than 1 cent, topping $1 last week.

Ripple is a San Francisco-based company that utilizes blockchain technology to develop the digital asset XRP for banks and payment providers, according to the start-up’s website.

World’s most popular cryptocurrency, Bitcoin, still holds the first place by market cap, amounting to almost $225 billion. With a cap of almost $70 billion, Ethereum holds the third place, followed by Bitcoin Cash, with a market capitalization of $42.7 billion. All other cryptocurrencies on the list have a market cap lower than $20 billion.

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