XRP’s fully diluted valuation (FDV) has surpassed Ether (ETH), according to March 14 data from CoinGecko.
The FDV flip signifies a reversal of fortune for both layer-1 (L1) blockchain networks behind the tokens, as XRP Ledger’s decentralized finance (DeFi) ecosystem gains traction and Ethereum grapples with competition from rival L1s, such as Solana.
As of March 14, XRP’s FDV stood at nearly $235 billion, more than $1 billion higher than Ether’s, according to CoinGecko. Ether’s market capitalization still leads at $233 billion versus XRP’s $136 billion, the data shows.
FDV measures the cumulative value of all existing tokens, whereas market capitalization only counts tokens already in circulation.
XRP’s developer, Ripple Labs, holds a multibillion-dollar allocation of its chain’s native token.
Cryptocurrencies by FDV. Source:
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