According to Messari calculations, Ripple lost his seat and fell to 4th place. The new owner of the 3rd throne is Tether.
Ripple lost his seat
Messari is a platform that shares data about crypto markets such as CoinMarketCap. There is a serious disagreement between Messari and CoinMarkerCap on the amount of XRP in the market. According to Messari, the number of XRP traded in the market is less than claimed.
Messari claims that it was given the impression that a substantial supply of XRP was released despite the lockdown. Therefore, the total market value of Ripple seems more than it should be. For example, Messari claims that Ripple's co-founder Jed McCaleb has approximately 6 billion XRPs, but these XRPs are not released due to the agreement between Ripple and Jed McCaleb.
According to Messari, there are 15 billion XPR coins that have been ripped off Ripple company in this way but have not been actually put on the market. Therefore, the total market value of XRP calculated by Messari is lower.
According to the mesari ranking, XRP is no longer the 3rd biggest cryptocurrency. The new owner of the 3rd throne is Tether (USDT). In the table below, we see the top 10 crypto coins.
The market value of Tether, a stable coin, has been rising since 2019. Due to the fluctuation in cryptocurrency markets, Tether demand is increasing significantly. If it goes like this, Tether can rise to 3rd place even in the CoinMarketCap ranking.
Ryan Watkins, one of the analysts of Messari, stated that the cryptocurrency that benefited the most from the recent fluctuation in the market was Tether. Watkins believes the increase in demand for stable coins will continue throughout 2020.
Ripple's XRP is traded at 18.8 cents. Bitcoin again rose above $ 7 thousand.
