XRP: The Most Traded Altcoin on Binance in December 2024

user avatar

by Giorgi Kostiuk

2 years ago

In December 2024, XRP emerged as the most traded alternative cryptocurrency on the Binance exchange, despite its recent price drop.

XRP's Leading Position on Binance

In December 2024, XRP became the most traded altcoin on Binance with a trading volume exceeding $116.6 million on Binance Futures. This occurred at a time when many cryptocurrencies, including Bitcoin, have seen price declines. Despite a 25% price drop from its high on December 3, XRP remains one of the most traded cryptocurrencies on the market. XRP even briefly surpassed Bitcoin in trading volume in South Korea.

Rising Wallet Activity

One reason for XRP's strong performance is the increase in the number of people holding and using XRP. After the U.S. SEC's 2023 ruling that it is not a security, investors gained more confidence in the token, leading to a significant rise in active wallets. According to Santiment, the number of wallets holding XRP has grown significantly, with 5.75 million new wallets added over the past two years.

Conclusion

Despite recent price drops, analysts believe that XRP will recover quickly compared to other altcoins due to its resilience and growing popularity among investors. With more users adopting XRP and new opportunities in 2025, such as the U.S. ETF buzz, XRP is likely to continue performing well.

XRP continues to maintain its popularity among traders, being the most traded altcoin on Binance and showing significant growth in new users.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

BotPsy Sets New Standards in AI Performance Benchmarks

Tether's QVAC BotPsy has achieved impressive scores in AI performance benchmarks, scoring 440 on BFCL v4 and 587 on ACEBench, surpassing larger models and demonstrating the potential of smaller AI models.

user avatarMiguel Rodriguez

Tether Launches Innovative AI Model QVAC BotPsy

Tether introduces QVAC BotPsy, an AI model with 800 million parameters that excels in performing everyday tasks on personal devices.

user avatarRajesh Kumar

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.