The San Francisco-based fintech giant Ripple ended 2017 with a bang. The company’s cryptocurrency, XRP, surged in late December then started 2018 by eclipsing Ethereum’s global market cap.
According to CoinMarketCap, XRP’s cap was more than $93.4 billion by Tuesday morning. XRP, which cost less than a fraction of penny at the same time last year, sold on Tuesday for around $2.41 per token.
It is now second only to bitcoin in terms of overall speculative value. However, market caps aren’t necessarily the best way to compare cryptocurrencies.
Unlike bitcoin, XRP was created for enterprise users by a startup. It still runs on a partially centralized commercial network.
“Ripple is not at all decentralized. It is actually the antithesis of decentralization,” Arianna Simpson, founder and managing director of the crypto-centric digital assets fund Autonomous Partners, told International Business Times. Read more from ibtimes.com…
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