Ripple Beat Ethereum Market Cap

For the third time this week, the Ripple price has achieved a new all-time high at $1.87, surging by more than 36% overnight and obtaining a market cap of $70 billion
29 December 2017   1439

Today Ripple (XRP) beat Ethereum (ETH) and became the second largest cryptocurrency with a market cap of $70 billion, but after half an hour Ethereum returned its position.

CoinmarketcupCryptocurrency Market Capitalizations

For the third time this week, the Ripple price has achieved a new all-time high at $1.87, surging by more than 36% overnight and obtaining a market cap of $70 billion, becoming bigger than both Uber and Didi Chuxing, two of the largest technology startups in the global market with a market cap of above $50 billion.

Ripple ChartsRipple Charts

At the moment of press, these are the main Ripple market parameters:

  • Average price: $1,83
  • Market Cap: $70 755 885 889 USD
  • 24h Trading Volume: $4 409 850 000 USD

The most of the XRP is being traded at:

  1. Bithumb 33.54%
  2. Binance 8.53%
  3. Bitfinex 7.57%

Recently, we have reported that SBI Ripple Asia is forming an association whose participants intend to use blockchain technology to create a single transaction register made using bank cards.

Mitsubishi Corporation`s Funds to be moved via RippleNet

Mitsubishi Corporation, together with a few partners, are going to move real funds over RippleNet: this is another validation of Ripple’s present technology
15 May 2018   197

The name of Mitsubishi is known to many people as a car manufacturer. The parent enterprice, nevertheless, has bigger plans for the future. In collaborance with MUFG Bank, Bank of Ayudhya, and Standard Chartered Bank, a blockchain pilot has been planned. 

This venture especially focuses on RippleNet, the technology aimed to facilitate cross-border payment flows. The main object of this test is to refine cash processing. All parties included trade with real-time and multi-currency payments on a daily basis. Cross-border transactions while stay slow, expensive, and subject to a fair amount of administration. With RippleNet, these payment flows can be bettered upon significantly. 

The goal of the pilot is to demonstrate the commercial viability of delivering high-speed cross-border payments between independent banks. As global trade continues to increase, the problems associated with cross-border payments are being experienced by smaller businesses as well. These companies don’t have the treasury resources or experience in navigating the pitfalls of today’s payment rails.
Ripple officials

Ripple’s technology is being tested for not the first time. RippleNet is a developing enterprice which basically collected support in the Asian region. Additional tests on this scale will define whether or not RippleNet is indeed a lively addition to the financial sector. The above-mentioned trial will be kept by Mitsubishi Corporation. Its subsidiaries’ accounts in Thailand and Singapore will see a real-world money transfer using RippleNet. It is also the first time a Japanese firm finishes a cross-border payment transaction over Ripple’s technology. If successful, this test can state a big precedent for other domestic firms to explore.

Depending on how the test goes, the parties intend to commercialize this payment resolve. Bringing RippleNet to the real world is an ongoing struggle, albeit things are proceeding as planned. With all of these firms showing a genuine interest in the project, Ripple has to provide the goods. Partnership with Mitsubishi Corporation at this stage paints an interesting outlook.