Since July 12, 2023, the cryptocurrency market has expanded by a staggering $60 billion within a mere 48 hours. The majority of this growth transpired after the decisive Ripple Labs case verdict, resulting in bitcoin’s dominance dipping from 50% to its present level of 48.6%.
Ripple Labs Case Verdict Triggers $60 Billion Crypto Market Expansion
The partial summary judgment within the Ripple lawsuit propelled the digital asset XRP to a 60%+ increase within a single day. Consequently, XRP’s substantial gains triggered a surge in numerous altcoins’ values. For example, Stellar (XLM) saw an increase of over 40%, while ADA leaped more than 20% in the past day. Archived data retrieved from coinmarketcap.com (CMC) on July 12, 2023, exhibited Bitcoin’s dominance at 50% in relation to the $1.19 trillion crypto economy.
Currently, BTC dominance has diminished to 48.6% due to significant returns in the altcoin arena overshadowing its market presence. Just two days ago, XRP ranked as the s
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