XRP Surpasses Bitcoin in Trading Volume on Coinbase
01/17/2025 13:05
XRP has captured nearly a third of Coinbase's trading volume
XRP has captured nearly a third of Coinbase's trading volume
According to data provided by CoinGecko, the XRP/USD pair has accounted for more than 25% of the 24-hour volume on the Coinbase exchange.
It logged more than $1.7 billion worth of trading volume on America's leading cryptocurrency trading platform.
For comparison, the BTC/USD pair comes in second place with $1.3 billion (19.6%).
Overall, the Ripple-affiliated token is in third place by trading activity (behind only Bitcoin and Ethereum). It has recorded a whopping $20 billion in trading volume.
Related
As reported by U.Today, the XRP token reached a new record high on Thursday after seven years.
More than $18 million worth of XRP shorts has been liquidated over the past 24 hours, according to CoinGlass data.
XRP's total futures open interest has also reached $8 billion after recording an 8% increase yesterday.
This came amid rumors of the U.S. mulling over establishing a reserve with American coins of the likes of XRP. This was first reported by the New York Post, sparking plenty of speculation within the community. However, such rumors should be taken with a grain of salt.
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About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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