XRP token trounced Bitcoin, Ethereum, and other altcoins as the conjectured best performing cryptocurrency for 2020, the final result of an online poll has indicated.
In the online poll which was conducted to know which coin the cryptocurrency community thinks could be the year 2020 best-performing cryptocurrency, XRP, a native cryptocurrency token used in the remittance industry, polled 42.2 percent to lead Bitcoin and Ethereum, which polled 23.3 percent and 10.3 percent respectively.
The remaining portion of the votes went to other altcoins, and in total, they polled 24.2 percent to stay ahead of the king of cryptocurrency, Bitcoin.
The poll was initiated by the host of DYOR Podcast, Tom ₿, and saw over 4,554 respondents. Of all the respondents, 42.2 percent of them were of the belief that XRP will perform exceedingly high this 2020.
“Which Crypto will be the best performing Digital Asset of 2020,” the caption of the poll reads.
What May Be Behind Crypto Community’s Choice of XRP
In the 2017 bull run where Bitcoin touched $20,000, XRP led the cryptocurrency rally, reaching $ 3. Since then, the digital token has been trading very low to its all-time high.
This year, the crypto market is trying to regain its lost strength. Bitcoin had reached $9,500. Expectations are high that like Bitcoin, the price of XRP, a token widely used by Ripple’s partners like MoneyGram, is also going rally higher.
Ripple Labs Inc., which is the brain behind the progress of XRP has been going on a partnership and investment spray since.
The firm’s capitalist arm, Xpring, invested in different firms capable of increasing the adoption of XRP in 2019, with the hope that those investments would increase the adoption of XRP.
In Asia, SBI Holdings, one of Ripple’s strongest partners, is widely spreading the usage of XRP through its business and some other initiatives.
In fact, SBI launched an XRP-centric Exchange for cryptocurrency trading dubbed SBI VCTrade. With SBI Ripple Asia, a conglomerate of top banks and financial institutions in Asia, invested into Ripple blockchain based MoneyTap, co-designed by this conglomerate.
SBI Holdings to Pay Shareholders in XRP
SBI Holdings declared on Friday that its shareholders are going to be paid in XRP or benefit from products owned by one of its health and cosmetics subsidiary, SBI Alapromo.
Through the new initiative, shareholders from March 31 have the right to accept XRP up to $18 (2,000 yen) and new shareholders will be given $73.50 (8,000 yen) in cryptocurrency.