Thanks to XRP, altcoins have started displacing Bitcoin

On 13 July, Judge Analisa Torress, through her ruling, put to rest the debate on whether Ripple’s sale of its XRP tokens in 2022 amounted to the sale of an “unregistered security.”“BTC volume dominance has slipped 8% since the start of July following the Ripple ruling, which instantly caused altcoin markets to rally.”

On the top 25 centralized exchanges, the leading coin’s volume dominance was less than 30%, marking its lowest level since April.Kaiko further noted that there has been an uptick in altcoin trading on offshore exchanges to the detriment of BTC. The report stated: “Offshore exchanges have experienced a more extreme drop in BTC trading activity, partially due to a spike in South Korean altcoin volume. Since the start of 2023, BTC dominance has fallen by 20%.”

Similarly, on U.S-based crypto exchanges, altcoins have seen increased trading activity. According to Kaiko, this suggested that

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin investors take profits while altcoin funds see an uptick in engagementBitcoin investment products saw $13 million worth of outflows last week while Ether, XRP, Solana, Uniswap and Polygon saw minor inflows as interest in altcoins grows.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

XRP loses its momentum as prices plunge below $0.7The evidence at hand signaled a move toward $0.56 for XRP, especially if Bitcoin also sank below the $28k mark.
Source: CryptoAmb - 🏆 22. / 68 Read more »