Over December, Ripple gained over 1,000% and overtook Ethereum as the world’s second largest cryptocurrency with a market cap of $90bn. Presumably emboldened by Ripple’s advances and sensing that Ethereum might be relatively undervalued, investors have piled into ether over the last 24 hours, causing its price to rise by 15% at the time of writing to give it a market cap of $85bn. Cardano has been one of the recent stars of the virtual currency world and is now the fifth largest by market cap. Cardano offers an Ethereum-esque smart contract platform that relies on a proof-of-stake algorithm called Ouroboros. Currently, Cardano is only available on Bittrex and Binance, meaning that its daily trading volume is relatively limited. Further gains could be on the horizon if other major exchanges choose to make it available.
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