As Cointelegraph reported, XRP’s market capitalization reached $138.98 billion on January 3, surpassing USDT to become the third-largest cryptocurrency. USDT’s market capitalization has fallen by $1.6 billion since December 30.
XRP prices have risen 17% in the past 14 days and nearly 280% in the past year. The decline in USDT market value is related to the implementation of the EU MiCA regulation, which requires stablecoin issuers to maintain full reserves and obtain operating licenses.
XRP’s rally was also driven by speculation about ETF investment funds. WisdomTree filed for an XRP ETF on December 2, joining Bitwise, Canary Capital, and 21Shares.
Despite the decline in USDT market capitalization, it still accounts for 67.21% of the stablecoin market share. USDT users grew by 11.7% in December, with 21.9 million new users.
