Significant changes occurred in the crypto market as XRP and Solana (SOL) demonstrated impressive growth, surpassing Tether and BNB.
Rise of XRP and Solana
Recent data shows that the market value of XRP increased to $138.98 billion, surpassing the largest stablecoin USDT. Meanwhile, Solana's market value reached $103.9 billion, leaving BNB with its $101 billion market value behind.
Ranking Changes
As a result of these changes, XRP rose to the 3rd place among the largest cryptocurrencies, while Tether (USDT) fell to the 4th place. Solana also surpassed Binance Coin (BNB), reaching the 5th position, while BNB now ranks 6th.
Market Implications
XRP’s surpassing of USDT coincides with USDT experiencing a $1.6 billion drop following the introduction of the European Union’s Markets in Crypto-Assets Regulation (MiCA). Despite this decline, Tether continues to dominate the stablecoin market.
These changes in the top 10 cryptocurrency rankings highlight the significance of market dynamics and response to global regulations.
