A recent survey by the cryptocurrency exchange BitMax shows that the Japanese are very fond of Ripple (XRP). Most participants had to choose their preferred digital asset, placing XRP close to Bitcoin and well above Ethereum.
Japan loves Ripple (XRP)
The popular Japanese exchange posted the poll on Twitter to see which of their favorite cryptocurrencies are among their followers.
BitMax cryptocurrency survey. Source: BitMax
As expected, the largest cryptocurrency by market capitalization Bitcoin (in yellow) took first place with 26% of the votes. Perhaps what is even more fascinating is that Ripple (XRP – in pink) comes very close at 25%. The now four-person digital asset by market capitalization has overcome Ethereum (in red) by a large margin. Only 9% of all participants voted for ETH.
As the graph above shows, the remaining 40% of the votes were distributed among other popular altcoins. These include the Dual Layer Blockchain Project written in Java – NEM (XEM), one of the first Japanese coins to come as a hard fork from Litecoin – MonaCoin (Mona) and Nano – formerly known as RaiBlocks (XRB), which is his uses its own technology called block-lattice architecture.
It is noteworthy, however, that the number of participants was relatively small at around 1,500, which could indicate that the survey was not complete.
Lots going on for XRP
Ripple, the payment protocol and the company behind the cryptocurrency XRP, has recently expanded its services. In Thailand alone, for example, the company signed two partnerships with a local fintech company called DeeMoney and with the oldest bank in the country – Siam Commercial Bank (SCB).
The bank has developed an application called SCB EASY for cross-border payments, while the fintech company will use RippleNet for more efficient, cheaper and faster international money transfers.
RippleNet Cloud, which enables banks to take full advantage of Ripple technology in the cloud, yesterday announced the signing of its first bank client – Brazilian Banco Rendimento.
However, the price of Ripple’s native cryptocurrency has not performed as impressively as the company behind it. XRP, like most digital assets, tumbled during the mid-March sell-offs, bottoming below $ 0.11. Although it has bounced back somewhat since then and is currently trading at $ 0.192, it also recently hit its two-year low against its primary cryptocurrency – Bitcoin.
XRPUSD 4h. Source: TradingView
The lack of any serious upward movement and the fact that Tether (USDT) continues to mint new coins to meet trader demand resulted in a position change in May. As mentioned above, XRP is the fourth largest crypto in terms of market capitalization as Tether outperformed it.
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