In the last year, crypto markets have undergone a massive shift with the rise of stablecoins, exchange tokens and other cryptocurrencies like Chainlink [LINK] and Tezos [XTZ]. XRP, one of the most popular cryptocurrencies, seems to be losing its lustre as it fails to make a breakthrough in price.
“Been bought by a bunch of people who finally figured out XRP was a scam”
The scepticism around altcoins has been especially high among traditional traders, who rarely look past Bitcoin [BTC] in the crypto markets. His derogatory views on the altcoin investors, especially XRP, has been sparked by the discrepancies between the actual and marketed use of XRP.
Nevertheless, Google search volume for XRP has been greater than Ethereum even today. It is higher than most altcoins including Bitcoin Cash [BCH] and Litecoin [LTC], and recent performing altcoins like Chainlink [LINK] and Tezos [XTZ]
Moreover, the value transfers in XRP has been higher than the transfers via Ethereum [ETH] as well. The value of transfer of stablecoins like USDT, however, has increased considerably on Ethereum, even surpassing Bitcoin’s transactions.
Furthermore, the transfer compared to other payment tokens like Litecoin [LTC] and recently, Bitcoin [BCH] is also higher with XRP. It surpassed the value transfers on Bitcoin Cash [BCH] recently as it dipped considerably in BCH post halving.
Hence, the sentiments around XRP and the transfer on the blockchain continue to show promise. However, the growth of stablecoins supply (USD stablecoin supply now over $9 billion) and the transfers might affect the value proposition for XRP and other payment focused cryptocurrencies.
Which altcoin do you think will lead the bull run, if it occurs? Please share your views with us.