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Wednesday, May 24, 2017

Ethereum Takes Over Ripple With Ease $16 Billion Market Cap

Ethereum Takes Over Ripple With Ease $16 Billion Market Cap

Ripple’s impressive rally didn’t last long and its market cap quickly fell from around $16 bln to $13 bln in less than a week. Ethereum took advantage over Ripple’s instability and took over XRP to reclaim its spot in the rankings as the second largest cryptocurrency or crypto asset, behind Bitcoin.

Over the past five months, Ethereum and Ripple have been fiercely competing with one another to secure the position of being the largest altcoin in the market. Ripple has been aggressively marketing its partnership with leading banks such as BBVA and Japan Bank Consortium to drive the demand toward Ripple up.

In the contrary, Ethereum has consistently made progress in building the Enterprise Ethereum Alliance (EEA), the Ethereum-based platform that is being used by large-scale commercial companies and organizations including Microsoft and JPMorgan.

Apart from its progress with EEA, Ethereum has seen the emergence of a variety of innovative projects including the $179 bln car maker Toyota’s announcement to utilize the Ethereum network to power autonomous and electric cars.

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