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Crypto

XRP market cap nears 6 percent of bitcoin, can it regain peak status

XRP’s market capitalisation has climbed to near 6 percent of bitcoin’s, according to figures cited by The Crypto Basic. Grayscale Investments put XRP at almost 6 percent of bitcoin’s value based on 30-day average market caps using data from Artemis, FTSE Russell and Grayscale. As of Sept. 28, bitcoin’s market cap was about $1.678 trillion and XRP’s was $94.08 billion, or about 5.6 percent. Grayscale classed bitcoin as a core asset and XRP as a supplementary candidate.

Crypto

21Shares says claims Ripple directly controls XRP and XRP Ledger are not true

21Shares said claims that Ripple directly controls XRP and the XRP Ledger are not true, citing the network’s validator structure. It said the default trusted validator list includes about 35 validators, with only 1 operated by Ripple, and more than 150 validators participate overall. Protocol changes require support from at least 80 percent of validators. 21Shares added that Ripple remains a key firm in the XRP ecosystem and holds billions of XRP in escrow.

Crypto

Grayscale says Zcash has potential to challenge Bitcoin

Asset manager Grayscale said privacy coin Zcash (ZEC) could have the potential to counter Bitcoin’s network effects. Grayscale Research said in a report released on Aug. 25 that Zcash has room to compete in the cryptocurrency currency segment. The report coincided with the launch of a spot Zcash ETF, as Grayscale converted its Zcash Investment Trust into the ZCSH spot ETF and listed it on NYSE Arca. Grayscale said ZCSH has a 2.5 percent fee.