The $XRP Ledger Leads the Market Per data as of April 24, XRPL recorded $1.1 Billion in 30-day net inflows, outperforming Ethereum ($879M) and Stellar ($643M).

I just realized something quite interesting about the cryptocurrency market — Bitcoin has maintained its number one position continuously for 8 years, from 2018 to now, without being shaken by any market cycle. When looking at Bitcoin’s current market cap of $1.55 billion, accounting for 56.94% of the total market capitalization, you can see that this dominance is not just a coincidence. But what caught my attention more is that only Ethereum and XRP have maintained their top 3 positions throughout this period. Ethereum, with a market cap of $279.87 billion, remains unchallenged as the number two, while XRP, despite facing legal challenges in the US, still holds a top 10 spot with a market cap of $88.6 billion. This stability is truly remarkable. Looking at the rest of the rankings, it’s completely different. Projects like IOTA, NEM, Dash, NEO, Qtum, EOS, Bitcoin Gold, Nano, Verge, Ethereum Classic — names that once stood out in the top 15 — are no longer in the top 20. That’s a pretty significant change. Instead, new projects like Solana and Dogecoin have quickly entered the top 5, and platforms like Hyperliquid are also making waves. This shows that the market is not only relying on early positions but also depends on innovation, scalability, and real-world use cases. My observation is: Bitcoin’s position at number one is not due to luck, but because it is the industry standard. But below that, competition remains fierce. Projects that do not develop will be phased out, while those that adapt will quickly gain significant ground. That is the natural law of the cryptocurrency market — a place where Bitcoin’s market cap remains a stable reference point, but the entire ecosystem constantly tests, redefines, and evolves through each cycle.

Last week, the performance of SOL spot ETFs was quite interesting. Bitwise's BSOL entered over $33.9 million that week, with total net inflows reaching $767 million, indicating that institutional investors' interest in Solana remains quite stable. Invesco & Galaxy Digital's QSOL also saw a slight inflow that week, although the size wasn't large, this type of diversified crypto asset ETF product line is indeed gradually improving. However, Fidelity's FSOL experienced a net outflow of over $10 million that week, which was a bit surprising. So far, the total assets of SOL spot ETFs are approximately $807 million, accounting for nearly 1.66% of SOL's total market cap, with cumulative net inflows reaching $958 million. In comparison, XRP spot ETFs were a bit quiet that week, with net outflows of over $4 million. It seems that market enthusiasm for XRP is not as high as for SOL at the moment, which also reflects the different priorities of assets in institutional allocations.