Solana is also outperforming the top 10 major cryptocurrencies in weekly gains
According to data from CoinMarketCap, Solana currently ranks sixth in terms of market capitalization, overtaking XRP. With a current market valuation of $40.51 billion, Solana now ranks ahead of XRP’s market cap of $39.24 billion.
Solana is also outperforming the top 10 major cryptocurrencies in weekly gains, up 21.65% in the past seven days. Terra (LUNA) falls behind with a 9.83% gain over the past seven days. The majority of cryptocurrencies tanked in the last 24 hours, erasing both daily and weekly gains.
The cryptocurrency market is struggling to recover after the European Parliament voted in favor of prohibiting anonymous crypto transactions. Nearly all of the cryptocurrencies in the top 100 were losing value at press time, mostly recording losses between 4% and 11%.
“Ethereum killer” Solana (SOL) has fallen slightly over the past 24 hours, according to data provided by CoinMarketCap. XRP also lost more than 6.31% during the same period.
Despite the market dip, positivity remains amid earlier developments. New York-based exchange-traded product sponsor WisdomTree recently announced that its Solana, Cardano and Polkadot exchange-traded products have been listed in France and the Netherlands. The two ETPs have started trading on Euronext exchanges located in Amsterdam and Paris. The products boast a total expense ratio (TER) of just 0.95%. It measures the total costs associated with operating a certain investment fund.
Earlier this week Solana, Cardano and Polkadot ETPs were also launched on SIX Swiss Exchange in Zurich and Xetra in Frankfurt.
1 billion XRP unlocked from escrow
As covered by U.Today, blockchain data tracker WhaleAlert reports that Ripple has unlocked a staggering billion XRP from escrow on the first day of a new month to add some of it to the circulating supply.
Meanwhile, more than 410 million XRP coins have been shoveled by high-end digital exchanges and addresses that Whale Alert has marked as “unknown”.
Ripple has been releasing one billion XRP from escrow since the start of 2017, with the goal of unlocking 55 billion Ripple-affiliated coins. In the past couple of years, Ripple has been adding 200 million from a released amount to circulation and locking back in escrow 800 million, sometimes 900 million.
