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| Ripple rockets past ethereum to become 2nd most valuable cryptocurrency after bitcoin | Ripple rockets past ethereum to become 2nd most valuable cryptocurrency after bitcoin |
| (about 3 hours later) | |
| Ripple has now gained almost 35,000% this year, overtaking ethereum on Saturday to become the world’s second-biggest virtual currency. | Ripple has now gained almost 35,000% this year, overtaking ethereum on Saturday to become the world’s second-biggest virtual currency. |
| Ripple has had the biggest growth in value among notable digital tokens this year. It went from less than a cent ($0.006523) in January to $2.24 on Saturday, which represents a surge of almost 350 times in value. | Ripple has had the biggest growth in value among notable digital tokens this year. It went from less than a cent ($0.006523) in January to $2.24 on Saturday, which represents a surge of almost 350 times in value. |
| After Saturday’s jump, ripple’s market cap hit $86 billion at 12:00 GMT, leaving ethereum $20 billion behind. | After Saturday’s jump, ripple’s market cap hit $86 billion at 12:00 GMT, leaving ethereum $20 billion behind. |
| While bitcoin and many other cryptocurrencies are known for being decentralized, ripple owners are known and the cryptocurrency is centralized. | While bitcoin and many other cryptocurrencies are known for being decentralized, ripple owners are known and the cryptocurrency is centralized. |
| The ripple cryptocurrency, XRP token, operates under parent company Ripple, a privately funded firm based in San Francisco, California. | |
| According to its founders, ripple seeks to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” | According to its founders, ripple seeks to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” |
| The advantage of ripple, according to its backers, is that it is not just a cryptocurrency. It is also used as a digital protocol that acts as a bridge to other currencies and doesn’t discriminate against peers, whether they are using digital money, fiat currencies, or even mobile minutes. | The advantage of ripple, according to its backers, is that it is not just a cryptocurrency. It is also used as a digital protocol that acts as a bridge to other currencies and doesn’t discriminate against peers, whether they are using digital money, fiat currencies, or even mobile minutes. |