Dot, the Polkadot network’s original token, has been flipped XRP to become the fourth-placed token after its price is up more than 40% in just 24 hours. Since January 11, the token is now up more than 100% to hit a new all-time high (ATH) of $ 18.06 on January 16.
With a market cap currently in excess of $ 16.8 billion, the Dot token now surpasses that of XRP with more than $ 4 billion. But before the December 23, 2020 outbreak, the Polkadot token had a market cap of just under $ 4.5 billion and an average price of $ 4.70, according to data from Markets.bitcoin.com. However, between then and January 3, the token rose more than 100% to close at $ 10.35.
But after this initial price hike, the token stabilized briefly at just under $ 10.35 before dropping to $ 7.61 on January 11. XRP.
Meanwhile, the relocation of XRP comes from its fourth position by Dot as the first is scrapped by stock markets. Since the deletion started, it has been XRP token has now fallen from its December 17th high of over $ 0.60 to its current price of $ 0.28.
Additionally, in a move that is likely to put more pressure on the token, the Kraken crypto exchange has announced that it will trade in the XRP token on January 29. However, this move is expected to affect only US customers.
Do you believe the XRP token will regain fourth place? Tell us your thoughts in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or invitation to an offer to buy or sell, or a recommendation or endorsement of products, services, or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.