XRP outshines Cardano (ADA) and Solana (SOL) in liquidity ranking

December 30, 2023 04:35 AM PST | By Invezz

XRP outshines Cardano (ADA) and Solana (SOL) in liquidity ranking — Image source: Invezz

XRP tops liquidity charts

Bitcoin, Ethereum, and XRP ranked the top cryptocurrencies in the Q3 liquidity ranking. The research shows that the leading crypto by value and Ether dominated in liquidity and market capitalization.

Meanwhile, Binance Coin plunged to the 8th spot in liquidity (from last quarter’s 6th position), though it has a higher market cap than XRP. Kaiko added that BNB has the most liquidity on exchange Binance.

Meanwhile, XRP had more liquidity in the third quarter, ranking behind BTC and ETH.

Moreover, Kaiko shows that Dogecoin, Cardano, and Solana’s performances somwhar matched their market caps. Also, Litecoin exceeded anticipations to rank 5th in liquidity.

On the other hand, TON underperformed, showing a significant gap between its liquidity and market cap. The alt dipped to the 37th position in liquidity, while it ranks ninth by market capitalization. Shiba Inu, Uniswap, and LEO are among the cryptos with substantial differences between market valuation & liquidity.

Liquidity remains vital in the crypto market as it affects everything from market stability to trading effectiveness. It refers to how smoothly a token could be purchased or sold without substantially impacting its price.

The post XRP outshines Cardano (ADA) and Solana (SOL) in liquidity ranking appeared first on Invezz

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