Ethereum has now reclaimed its established ranking as the second-largest coin by market cap on CoinMarketCap—which it briefly ceded to a soaring Ripple on September 21. The altcoin today saw a 10.4% loss to trade at $209 to press time.
After soaring as high as $250 on September 22, Ethereum briefly held between $240-$245, before a plummet set in yesterday, which accelerated further downwards today. It’s total market cap is today close to $21.4bn, slightly widening its margin ahead of Ripple—which has a total market cap of about $18.1bn as of press time.
On the week, Ethereum’s gains remain up by 6.9%, while monthly losses are at around 25.2%.
Ripple (XRP) has had an unprecedented week, following its brief eclipse of Ethereum on September 21 to score a new ranking on CoinMarketCap as the second-largest cryptocurrency in the entire market. The asset’s market cap had hit around $23bn.
Nonetheless, the ensuing days have seen Ripple’s position decline somewhat. The asset is today down around 13.8% over the 24 hour period, and is trading around $0.45 at press time. Possible reasons behind Ripple’s record-breaking growth include the September 19 announcement that US bank PNC will begin using Ripple’s xCurrent software solution to expedite cross-border transactions for the bank’s US commercial clients.
Last week also saw suggestions that Ripple is likely to launch a commercial application of its xRapid liquidity solution for banks “in the next month or so.”
On the week, Ripple is still up 68%. Monthly gains stand at around 39%.
Bitcoin (BTC) had a relatively more stable week, seeing less sudden growth as well as less severe losses, although it has nonetheless consistently shed value over the past couple of days. The top crypto is down around 2.6% to trade around $6,426 as of press time. It’s depressed performance has not yet impacted its weekly chart, which is almost 3% in the green. On the month however, Bitcoin is down slightly over 4%.
Among the top ten coins listed on CoinMarketCap, Stellar (XLM) has again been hit with the most severe losses on the day, barring ETH and XRP—down 9.35% to trade at $0.24 at press time.
Still among the top ten, Cardano (ADA), is also down 10% and is trading around $0.076.
Tron (TRX) is down 9.2% on the day at around $0.02, and Tezos (XTZ) is down 5.3$ at $1.48. IOTA (MIOTA) is faring better than its double-digit loss yesterday, losing around 5.4% on the day to trade around $0.53 – a similar percentage loss to alts such as NEM (XEM) and Ethereum Classic (ETC).
Total market capitalization is around $207.6bn as of press time, down around $25bn from its intraweek high of close to $229bn.