12th September 2024 – (New York) The combined market capitalisation has surged by over 2.35% to reach $2.04 trillion. This recovery has not only been beneficial for major players like Bitcoin and Ethereum but has also positively impacted several significant altcoins including XRP, Dogecoin (DOGE), and Tron (TRX).
XRP, a pivotal component of the Ripple ecosystem, has witnessed a commendable increase of more than 1.5% in the last 24 hours, with its price now standing at $0.5375. This rally has significantly narrowed its weekly losses to just 2.4%. Dogecoin, perpetually buoyed by its status as Elon Musk’s favoured cryptocurrency, maintained a 4.5% increase over the week, with its price at $0.105. Meanwhile, Tron, which supports a substantial volume of Tether (USDT) transactions, has seen its value rise by over 2% to $0.1542, securing its position as the 10th largest coin by market cap.
The trading volumes of these cryptocurrencies have also seen an uptick, with XRP’s volume rising by 4% to $801,662,213. Dogecoin and Tron followed suit with increases of 1.13% and 0.66%, respectively, in their trading volumes. This surge in trading activity underscores a growing investor interest and a bullish sentiment in the market.
Each of these digital currencies is backed by a unique ecosystem that contributes to its growth and market position. XRP is integral to the functioning of the XRP Ledger, an open-source blockchain that facilitates fast, low-cost international transactions. Dogecoin, originally created as a meme, has evolved into a widely accepted payment token, further popularised by high-profile endorsements. Tron, on the other hand, has diversified its ecosystem to include support for a broad range of applications, positioning it as a formidable competitor to Ethereum.
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