The past week has been pretty interesting for XRP owners. With the value slowly climbing to new heights, things are looking quite well for the future valuation of XRP as a whole. The currency is now trading on the Korean Coinone exchange as well, where it has quickly overtaken Bitcoin and Ethereum to become the top-traded cryptocurrency.
Coinone Adds XRP To Much Delight of Users
Although it was announced some time ago, the Korean Coinone exchange has finally enabled XRP trading as of this weekend. That change will introduce more people to XRP, as the platform specializes in cryptocurrency-to-fiat trading pairs. In this case, XRP is traded against the Korean Won, and things are off to a good start so far.
To be more specific, the XRP/KRW trading pair of Coinone has quickly overtaken BTC/KRW and ETH/KRW. That latter one is not surprising, as there is very little demand for ETH on this Korean exchange for some reason. The fact that XRP overtook BTC trading in just a few hours is rather spectacular, though. According to Coinmarketcap, Coinone generated over US$5. 7m worth of XRP/KRW volume so far.
All of this good news goes to show a bright future awaits XRP, the native token of the Ripple ecosystem. Yesterday could have been quite a good run for XRP, were it not for the Poloniex exchange. To be more specific, the exchange once again suffered from an alleged DDoS attack. It is the third time in a week this happened right at the time when XRP is generating a lot of trading volume. While that is most likely coincidental, some people are starting to think Poloniex is effectively manipulating the altcoin market these days.
Luckily, it appears exchanges like Coinone will help elevate the XRP to new heights. As of right now, the currency is trading at a value of US$0. 251947 on Coinone. Poloniex and Kraken have it listed at US$0.219458. While it is true Asian exchange users often pay a premium for trading currencies, this would represent a near 20% premium for XRP trading.
Looking at the bigger picture, XRP has successfully overtaken ETH to become the world’s second-largest cryptocurrency by market cap. Both currencies will continue to jockey for position as time progresses, though, since the market cap of both currencies is very close to one another. It is not impossible for XRP to see a breakout sooner or later, though, as experts predict the token may hit a US$1 value in the coming months.
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