XRP Outspaces BNB to be the Third-Largest Cryptocurrency in the World
Key Takeaways:ETF Inflows and Institutional MomentumGrowth of Cross-border Utility and InfrastructurePerformance in the Compared MarketThe Location of BNB in the Existing MarketThe Macro Cryptocurrency EnvironmentInfrastructure Developments in the Future
As the second stage of its evolution, XRP is likely to focus on the opportunities of decentralized finance (DeFi). The XRP Ledger developers have been making efforts to deploy smart contracts, which would enable the network to compete on a more level playing field with Ethereum and the BNB Chain in the NFT and automated market maker markets.
In case these technical upgrades are effectively made, the demand of XRP as a gas token and collateral may grow. This would provide an added value to its main use as a payment bridge. In the meantime, the market is concerned with the short-term consequences of the ETF victory and the resulting liquidity that will be granted to the position of the third-largest cryptocurrency.
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