- HKVAC replaces XRP with SOL within the World Giant Cryptocurrency High 5 Index.
- The company introduced that the adjustments to the index will take impact on January nineteenth.
- The event comes after months of rising curiosity and investor exercise in Solana.
Hong Kong-based crypto asset ranking company HKVAC plans to take away XRP from its World Giant Cap Cryptocurrency High 5 Index, based on a current announcement on its web site.
The report particulars that XRP will likely be changed by Layer 1 blockchain community Solana. The adjustments comply with months of elevated investor curiosity and exercise in Solana. In consequence, the worth of the token elevated considerably in the direction of the top of final yr, and the variety of transactions additionally elevated.
Throughout this era, Solana helped XRP emerge because the fifth-largest cryptocurrency community, briefly surpassing BNB earlier than the uptrend cooled down. On the time of writing, Solana has a market cap of $42 billion and sells for $97 every, based on information from CoinMarketCap.
In the meantime, XRP's market cap is $32 billion, $10 billion lower than Solana. At present, XRP is buying and selling at $0.5907, down 1.13% over the previous 24 hours.
It’s price mentioning that the High 5 Index tracks the efficiency of main cryptocurrency belongings. Standards used embody market capitalization, liquidity, and “investability.” As acknowledged within the announcement, XRP's withdrawal from the index will take impact on January nineteenth.
In the meantime, the company added Web Laptop Costs (ICP), Close to Protocol (NEAR), Optimism (OP), Injective (INJ), and Immutable (IMX) to its world index. This token replaces TrueUSD (TUSD), Binance USD (BUSD), Hedera (HBAR), Filecoin (FIL), and Maker (MKR) on the index.
Avalanche (AVAX) additionally made it into HKVAC's high 10 index, whereas Tron is to be (TRX) was excluded. In response to data supplied by the company, these index adjustments may even take impact on January nineteenth.
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