XRP and ADA Lead Upbit Trading Volume Despite ADA's 6.8% Drop
1min read Upbit, a prominent cryptocurrency exchange, recently disclosed its 24-hour trading volume rankings, with XRP, BTC, and ADA occupying the top three positions. This ranking underscores the substantial trading activity and investor interest in these specific cryptocurrencies on the platform. XRP, renowned for its application in cross-border payments, remains a favored choice among traders. BTC, the pioneering cryptocurrency, continues to hold its dominant position in the market. ADA, the native token of the Cardano blockchain, has also garnered significant attention, reflecting its expanding ecosystem and robust community support.
Ripple Labs, the entity behind XRP, has been actively collaborating with regulatory bodies and industry stakeholders to foster the adoption of its cryptocurrency. Executives from Ripple have proposed the inclusion of SOL in the Strategic Digital Asset Reserve (SBR), which was announced on March 2. This initiative is viewed as a strategic move to legitimize the inclusion of XRP in the reserve. Ripple CEO Brad Garlinghouse highlighted the importance of industry collaboration, noting that the Trump administration's approach signifies a shift towards a world with diverse blockchain solutions, free from excessive maximalism.
On March 7, the White House is scheduled to host its first crypto summit, where new details about the composition of the reserve are expected to be unveiled. It is anticipated that ADA will be included alongside XRP and SOL. US Commerce Secretary Howard Lutnick hinted that bitcoin would receive "special status" under Trump's plans, while other cryptocurrencies would be treated positively. This development has sparked discussions within the crypto community about the potential impact on the market and the future of digital assets.
Cardano founder Charles Hoskinson expressed confidence in ADA's inclusion in the cryptocurrency reserve, stating that the community deserves recognition for its resilience. Despite a 6.8% drop in ADA's price over the past 24 hours, Hoskinson remains optimistic about the token's future. The price fluctuations reflect the volatile nature of the crypto market, where investor sentiment and regulatory developments play a significant role in determining the value of digital assets.
