Bitcoin Surpasses Russian Ruble to Become 14th Largest Currency

Following its continued surge this week, Bitcoin has surpassed the Russian ruble to become the 14th largest currency in the world by market cap. Indeed, data from CoinMarketCap has the digital asset catapult into the top 15 among some of the largest currencies on the planet.

Bitcoin has enjoyed a massive surge this week amid massive Spot ETF inflows. Subsequently, that continued ascension has allowed it to transcend the cryptocurrency market. The asset has now become a competitor to a plethora of global currencies.

Also Read: Cryptocurrency: 3 Coins To Watch As Bitcoin Eyes $60,000

Bitcoin Passes Russian Rubel as 14th Largest Currency in the World

Bitcoin has long been the most dominant digital asset within the market. Although that has never truly been disputed, the industry had high hopes for its performance entering 2024. Now, just two months into that year, it has seemingly made good on those expectations.

The presence of dominant Spot Bitcoin ETFs has ensured its return to the $62,000 level this week. Not having reached those heights since 2021, the asset is seemingly on its way to its previous all-time high of $68,990. Subsequently, its performance has allowed BTC to transcend its market, and compete with some of the globe’s most prevalent assets.

bitcoin btc etf cryptocurrency

Also Read: Shiba Inu Shines As It Rises By 7% Following Bitcoin’s Hike to $59K

Specifically, data shows that Bitcoin has surpassed the Russian ruble as the 14th largest currency in the world by market cap. Indeed, BTC’s recent surge has placed it ahead of global currencies like the Mexican Peso, Saudi royal, Thai Baht, and United Arab Emirates dirham.

According to the aforementioned CoinMarketCap chart, Bitcoin is behind the Swiss Franc, Australian dollar, New Taiwan Dollar, and Brazilian real. Conversely, how BTC continues to climb the list will be interesting. With the highly-anticipated Bitcoin halving event slated for April, it should greatly increase the overall value of Bitcoin. Subsequently, propelling its price even higher.

  • bitcoin

Comments

Post a Comment

Popular posts from this blog

STX Hits 52-Week High! Ascending Channel Points to Bullish Trajectory

Image
Stacks (STX) soars 8.74% in 24 hours, hitting a 52-week high at $2.06, riding the crypto wave. STX’s rise is attributed to Bitcoin optimism and its role as a layer 2 solution. Technical analysis points to a bullish trend, aiming for $2.6, but watch out for potential corrections at $1.6. Stacks (STX) has continued its upward trajectory, with its price recently reaching a 52-week high of $2.06, marking an 8.74% increase in just 24 hours. This surge is part of a broader trend that has seen the cryptocurrency gain 749% over the past year. Market analysts attribute this impressive performance partly to the growing optimism surrounding the potential approval of a spot Bitcoin ETF, which could further galvanize the cryptocurrency sector. STX/USD 24-hour price chart (source: CoinStats ) During the bull rally, STX’s market capitalization and 24-hour trading volume surged 9.45% and 24.95%, to $2,852,664,529 and $715,025,179, respectively.  Stacks as a Bitc
Read more

XAI tanks by 20% after airdrop and Binance listing

Image
The layer-3 gaming token fell by more than 20% after an airdrop and Binance listing on Jan. 9. According to CoinGecko, the layer-3 gaming token Xai has fallen by more than 22% in 24 hour trading. The current price of the token is $0.5231. X rate fell sharply just a day after reaching an all-time high on Jan. 9, in which the price of the coin was $0.7734. Source: CoinGecko The token price collapse occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it offered 125 million XAI tokens (or 5% of the total token supply) to eligible users, including holders of certain Xai NFTs and those operating gatekeeper nodes or validators that help support the network. Dear Xai Community, As we approach the XAI token claim, it's crucial to stay vigilant against potential scams. Please carefully read and follow these guidelines: Official Contract CLAIM Address: The ONLY legitimate $XAI airdrop claim contract address is… — XAI (@X
Read more

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, the crypto may try to fli
Read more