XRP Overtakes USDT in Market Capitalization as South Korean Trading Volume Surges

XRP has officially overtaken the biggest stablecoin USDT by Tether in market capitalization

XRP has officially overtaken the biggest stablecoin USDT by Tether in terms of market capitalization, according to CoinMarketCap data.

As of Monday, XRP is in third place on the global crypto market, with a market cap of $153,003,132,526. It is just ahead of Tether's (USDT) $150,000,000,000.

The shift in market cap comes as a result of increased trading volume across major South Korean exchanges. According to CoinMarketCap data, the combined XRP/KRW volume across Upbit and Bithumb is over $1,200,000,000 in the past 24 hours.

Upbit and Bithumb are the main drivers of the shift. On Upbit, XRP/KRW makes up 18.34% of the exchange's total trading volume in the past 24 hours. On Bithumb, the pair's volume share is 18.02%.

The pair is also leading both platforms in terms of liquidity and market attention.

At the time of writing (10:43 UTC), XRP is trading at around $2.62-$2.63. The price is clearly in an upward trend, as visible on the four-hour chart.

Meanwhile, Solana (SOL) has overtaken Binance Coin (BNB) to claim fifth place in the overall market cap rankings.

As of Monday morning, Solana's market value is about $93.9 billion, compared to BNB's $92.5 billion.

Both assets have shown positive weekly performance, but Solana's recent strength - backed by consistent daily gains - was enough to knock BNB off the leaderboard.

The changes in the top ten come as the crypto market experiences increased volatility and attention.

Bitcoin (BTC) is still in first place, with the price hovering above the $103,000 mark.

The second-largest cryptocurrency, Ethereum (ETH), has shown strong weekly growth of more than 42%.

As things stand, it seems that XRP's rise is being driven mainly by high demand on the Korean market, where fiat on-ramps and local interest in altcoins are impacting trading flows.