XRP has surged past Tether (USDT) to claim the third spot in the cryptocurrency market rankings by market capitalization. This comes after a 10.6% increase in price over the past week, pushing its market cap to $138.26 billion. Favorable market sentiment and increased whale activity are attributed to the price surge. While USDT remains the fourth-largest crypto with a market cap of $137 billion, it has faced challenges due to regulatory uncertainties surrounding its compliance with the MiCA regulation in the EU.
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This flip may not be permanent as the volatility in the market skews on either side of the coin in the long term. Notably, USDT is facing intense fear, uncertainty and doubt from the market amid the implementing of the Markets in Crypto Assets regulation. The stablecoin issuer did not comply with the new rules, making it face delisting on top exchanges like Coinbase operating in the region.hype grew remarkably toward the end of the fourth quarter as top asset managers, including WisdomTree, filed for the product with the U.S. SEC.last month, hoping to pose serious competition with USDT and USDC. These sentiments are helping to uplift XRP overall, as showcased in the price boom for the rest of the fourth quarter.
XRP Tether USDT Market Cap Cryptocurrency Rankings Whale Activity Mica Regulation Stablecoin
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