Polkadot (Up 20%) Overtakes 4th Spot Of XRP With Cardano (Up 14%) Following

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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The altcoin season is heating up now that both Polkadot and Cardano are climbing the charts as well. We already reported on Chainlink’s meteoritic rise but it just appears its only one of many DeFi winners of the last few days.

Polkadot, which was a September winner already, is profiting from the demise of XRP to take its place on CoinMarketCap’s top ten.

Both Cardano and Polkadot have been building momentum for a few months now. Polkadot is currently trading above $17, up 20% for the day and almost 80% this week.

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Autumn and winter coins?

In September, we explained how Cardano and Chainlink aimed to be Ethereum killers by replacing their blockchain as the most important one to be used by smart contracts, whilst Polkadot was looking to co-exist alongside Ethereum rather than compete with it.

Around half of December we again noticed that both Polkadot and Cardano were heating up. Cardano had been steadily climbing the charts and ever since Bondly, a DeFi project, switched from Polkadot to Charles Hoskinson’s Cardano, it gained even more ground.

By now, Polkadot has flippened XRP on the rankings and is officially the fourth largest crypto by market cap. Tether’s $24 billion capitalization is still a long way off though. Even Cardano, if it continues climbing, could soon overtake XRP in fifth place.

Together with Jed McCaleb’s Stellar (Up 2%) today, those three seem to be the major winners of the top 10 today. We’ll have to watch closely what Charles Hoskinson has got planned for 2021, but whatever it was for 2020 already, it seems to be working.

gorev / Depositphotos.com