{"id":567454,"date":"2023-12-30T13:00:33","date_gmt":"2023-12-30T13:00:33","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=567454"},"modified":"2023-12-30T12:44:23","modified_gmt":"2023-12-30T12:44:23","slug":"dogecoin-and-xrp-beat-out-cardano-and-solana-to-secure-new-milestone","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/dogecoin-and-xrp-beat-out-cardano-and-solana-to-secure-new-milestone\/","title":{"rendered":"Dogecoin And XRP Beat Out Cardano And Solana To Secure New Milestone"},"content":{"rendered":"
Kaiko, a blockchain analytics platform, conducted an investigation that revealed the complexities of liquidity across the biggest crypto assets, with some lower market cap assets beating higher ones. According to its <\/span>Q3 liquidity rankings<\/span><\/a>, XRP and Dogecoin (DOGE) managed to beat out Solana and Cardano in liquidity rankings, coming in behind only Bitcoin and Ethereum. There were also some surprise numbers on the rankings, like BNB coming in 8th in terms of liquidity, and Litecoin also outperforming.\u00a0\u00a0<\/span><\/p>\n The vast number of crypto assets has always brought out the idea among investors to rank their valuation on a scale of some sort, with the most adopted being the market cap. However, according to Kaiko, liquidity, along with other metrics like volume and market depth is a better way to measure a token’s real value apart from its market cap. This was best demonstrated by FTX’s token FTT, whose market was bloated to reach a peak of nearly $10 billion without having enough liquidity on exchanges to back this up.<\/span><\/p>\n According to its latest rankings, <\/span>Bitcoin took up the first spot<\/span><\/a> in liquidity. This wasn’t surprising, as Bitcoin has always held a tight reign over the crypto industry since its inception. Ethereum followed in second place in terms of liquidity to reiterate its position as the king of altcoins. However, Kaiko’s liquidity rankings started to digress from the market cap at the third position, with BNB underperforming massively to come in at 8th place.\u00a0<\/span><\/p>\n Instead, <\/span>XRP <\/span><\/a>came in at 4th place, beating out the likes of Solana and Cardano (the Ethereum killers) on exchanges among traders. <\/span>XRP\u2019s liquidity boost<\/span><\/a> in the quarter was thanks to the asset <\/span>receiving regulatory clarity<\/span><\/a> in the US. Dogecoin came in at 5th place, despite being 10th on market cap rankings, to solidify its position as the leader among meme coins. Litecoin came in at 5th place to complete the top five, despite being 18th in market cap rankings.<\/span><\/p>\n On the other hand, AVAX’s liquidity ranking dropped 11 places when compared to its market cap, while TON came in at 37th place despite being 9th by market cap during the quarter. Also, ATOM, UNI, APT, TON, SHIB, OKB, LEO, and CRO all fell more than five spots.<\/span><\/p>\n <\/p>\n Kaiko’s measure of liquidity included the spread and the average daily trading volume on different exchanges. The analytics platform also included two different market depth levels; 0.1% for higher frequency traders and 1% for longer-term holders.<\/span><\/p>\nKaiko Analysis Highlights Liquidity For Crypto Assets<\/b><\/h2>\n
Total crypto market cap at $1.59 trillion on the daily chart: TradingView.com<\/a><\/pre>\n
What Does Liquidity Say About Dogecoin And Crypto Assets?<\/b><\/h2>\n