Mike Novogratz explains why XRP and ADA continue to dominate the cryptocurrency market. Mike Novogratz explains why XRP and Cardano continue to dominate the cryptocurrency market despite growing competition.
XRP remains relevant in the market due to early adoption, a dedicated community, and a compelling market history.
#XRP peaked above US$3.00 in early February and has since corrected but is still valued above US$BTC #cryptocurrency investor Mike Novogratz explains why XRP and #Cardano (ADA) continue to maintain a strong market position.
He emphasized that the early popularity of these digital assets allowed them to build strong communities and remain relevant. Despite the emergence of new tokens, XRP and #ADA maintain their dominance.
XRP continues to be one of the major players in the cryptocurrency market due to its strong community and attractive market history
the currency maintained steady growth throughout November, breaking the $3 mark in early February.
As of mid-February, XRP had a market value of more than $1.50, despite price fluctuations.
During the two periods, the total value of long leveraged transactions reached $74.67 million.
The price volatility in late November and early December was due to an increase in short liquidations in the market. Novogratz recognized the impact of community activism, which has kept XRP relevant despite the market volatility. Continued trader interest even during periods of price volatility is evident from the constant liquidations at high levels.
liquidations, reflecting both long and short positions, have been prominent in Cardano (ADA) in recent months.
The price started to rise in November, reached a high in January, and then began to correct downward.
As of February, the ADA price is above $0.60, indicating a stable cryptocurrency market.
The latest liquidation data shows that between November and January, long and short positions were evenly distributed, with three large spikes during this period.
The largest liquidation of long positions reached US$ 22.
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