XRP Becomes Third-Largest Cryptocurrency

XRP Becomes Third-Largest Cryptocurrency

XRP has risen by 71% this week to reach $2.47, marking a 367% surge over the last 30 days and climbing to third place by market cap, surpassing Tether and Solana. The price boost reflects unprecedented growth on the XRP Ledger (XRPL), with $40 million processed yesterday and 1,000 new users joining every hour.

Despite still being 27.6% below its all-time high of $3.40 from January 2018, the recent price surge has brought XRP closer to that level than it has been in nearly seven years. Ripple’s victory in its legal battle with the SEC could open doors for more use cases, making XRP more attractive for institutions.

Investors are also hopeful that regulatory clarity will boost XRP's adoption in financial applications such as cross-border payments and exchange-traded funds. The recent optimism has seen gigantic capital inflows into XRP, pushing it ahead of major stablecoins in terms of market capitalization.

If you want to join the XRP ecosystem you can see how to add XRP (XRPL) to MetaMask and get started with the native DEXs, NFTs, and tokenization features on Ripple's blockchain.

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Michael Saylor Advises Microsoft to Embrace Bitcoin

Michael Saylor, co-founder of MicroStrategy, urged Microsoft executives to adopt Bitcoin, suggesting it could significantly boost the company's value. He proposed that Bitcoin would provide Microsoft with an asset without counterparty risk, unlike stock buybacks or bonds, and forecasted that embracing Bitcoin could add $584 per share and $4.9 trillion to Microsoft’s enterprise value by 2034.

Saylor believes that Bitcoin represents the greatest digital transformation of the 21st century and urged Microsoft not to miss out on it. He claimed that buying Bitcoin would set Microsoft apart from its competitors. Saylor's company, MicroStrategy, has continued aggressively adding to its Bitcoin treasury, which has led to a 465% year-to-date increase in its stock price.

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Coinbase Integrates Apple Pay into Fiat-to-Crypto Onramp

Coinbase has integrated Apple Pay into its fiat-to-crypto Onramp solution, adding ease of use for crypto buyers. The Onramp tool aims to reduce onboarding friction and simplify purchases for self-custody wallet users. This feature allows users to buy crypto more seamlessly across major wallets like Metamask, Phantom, and Coinbase Wallet, supporting over 60 currencies.

The integration is part of Coinbase's broader strategy to make cryptocurrency more accessible to everyday users. By incorporating a widely-used payment method, Coinbase wants to lower the barriers for new users entering crypto and increase participation in decentralized finance. The simplified payment system is expected to drive higher usage rates and onboard millions.

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Meta's Crypto Project Was 'Politically Killed' in 2022

David Marcus, former head of Meta's Diem project, said the project was 'politically killed' despite meeting all legal requirements. He claimed that pressure from the Federal Reserve and Treasury Secretary Janet Yellen led to the project's demise in early 2022. Marcus emphasized the importance of building on a decentralized platform, pointing to Bitcoin as the ideal foundation for it.

Marcus explained that Diem's goal was to address global payment challenges, but political interference made progress impossible. He believes only a decentralized network like Bitcoin can escape regulatory capture and become a stable foundation for a global financial system. Now, Marcus leads Lightspark, focused on Bitcoin’s layer 2, Lightning Network, for payments.

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Data of the Day

Global crypto spot trading volumes surged to $2.7 trillion in November, the highest since May 2021, more than doubling October's volume. Binance led the activity, accounting for 36% of the total volume, with Crypto.com, Upbit, and Bybit each recording monthly volumes exceeding $200 billion.

Bitcoin futures trading volume reached $2.59 trillion, while Ethereum futures hit $1.28 trillion, both marking their highest levels since May 2021. Binance processed over $986 billion in spot trade volume, contributing significantly to the overall surge.

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More Breaking News

• US government moves 19,800 BTC linked to Silk Road to Coinbase Prime, possibly foreshadowing a future sale of the seized assets.
• Changpeng Zhao 'CZ' expresses openness to a federal pardon from President-elect Trump after serving time for an uneffective AML program.
• Solana meme token Moo Deng surged over 80% after Coinbase announces its listing, highlighting the "Coinbase effect" on token prices.
• Japanese crypto exchange DMM Bitcoin to liquidate after losing $320 million in a private key hack, transferring customer assets to SBI VC Trade by March 2025.
• Bitcoin miner Marathon Digital acquires 6,484 BTC for $618 million, and MicroStrategy acquires 15,400 BTC for $1.5 billion.
• European Central Bank publishes its second progress report on the digital euro, detailing preparations for a unified digital payment system in the euro area.
• Hyperliquid's HYPE token sees another rise in value post-airdrop, surpassing Aave in market capitalization and claiming half of all perpetual swaps trading volume.

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