Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11919
Markets: 92094
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11919
Cryptocurrencies
54.89%
Bitcoin Share
CoinDesk 2024-12-04 06:06:39

Move Over XRP's Korea Narrative, The 400% Price Rally Has Support of Coinbase Whales

Move Over XRP's Korea Narrative, The 400% Price Rally Has Support of Coinbase Whales

When we think of altcoins like XRP and their sudden price bursts, the first thing that comes to mind is South Korea, which has a reputation for heavily engaging with alternative coins. While Korean investors have contributed to XRP's impressive 30-day price surge of over 400% to $2.60, they're not the only game in town. The stateside investors have been hyperactive through the Nasdaq-listed Coinbase exchange. The XRP/USD pair on Coinbase has been consistently pricier than Binance's XRP/USDT pair in the past 30 days, with minute-level premiums ranging from 3% to 13%, according to data from analytics firm CryptoQuant. It's a sign of whales being active on Coinbase, according to CryptoQuant's CEO Ki Young Ju. In the meantime, prices have not seen a significant premium on Upbit, South Korea's leading cryptocurrency exchange. Narratives surrounding crypto adoption under Trump's presidency are likely powering the so-called Coinbase premium. "The WSJ describes Trump's second term as 'new era for crypto—with fewer government hurdles.' Under a 'litigation peace,' according to the asset's proponents, XRP will become more accessible to major financial institutions using the asset as a 'bridge currency' for foreign exchange," FRNT Financial said in the newsletter Tuesday, explaining the XRP rally and booming activity in the U.S. exchanges. Trump's friendliness to crypto is bolstering the thesis that payments-focused XRP will become "ubiquitous in international capital flows as a ‘bridge currency’ when settling foreign exchange," FRNT added. Coinbase lags in trading volume Volume trends, however, indicate Korean leadership in the XRP market. On Upbit, XRP/KRW is the most traded pair of the past 24 hours, with a volume of $7.63 billion, equating to 26% of the total activity, according to data source Coingecko. On Coinbase, the XRP/USD pair has seen a trading volume of nearly $1.7 billion in the past 24 hours, the highest among all pairs, accounting for over 17% of the exchange's total turnover of $9.89 billion, according to data source Coingecko. The BTC/USD is the second-most actively traded pair, with a volume of $1.59 billion. The offshore XRP market is bigger in volume, likely because the cryptocurrency was unavailable for trading in the U.S. for a long time because Ripple was locked in a legal battle with the SEC over alleged securities law violations for issuing XRP to institutions and retail investors. However, favorable resolution of the legal tussle early this year prompted exchanges, including Coinbase, to re-list XRP.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.89%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.