In a surprising twist in the cryptocurrency market, XRP's value spiked by 17% immediately after BNY Mellon announced its use of the currency for cross-border payments internally. This news has triggered discussions regarding XRP's potential to challenge Ethereum’s dominance in the market. BNY Mellon's Adoption of XRP The financial institution BNY Mellon confirmed its use of XRP for internal operations, causing a significant uptick in its market price to $2.37, which is a robust 5% rise within a single day. Market analysts are optimistic, suggesting a possible rise above $3 by Q3 end, especially if this trend catches on globally. Experts are watching closely to see if XRP could even threaten Ethereum's second-place standing, particularly if Ethereum's planned network upgrades fail to materialize promptly. Competitive Pressures on Ethereum Despite Ethereum's stability, its performance this week has been lackluster, with it trading around $2,670. The slow pace of development and high transaction fees continue to be a pain point for small-scale users. Ethereum's forthcoming Q4 update might be too late to fend off rising competitors. The sluggish pace has left investors speculating about the possibility of Ethereum losing its foothold, especially given its strong investor base and developer support, which remain robust despite the challenges. Emergence of Remittix as a Leading Crypto Presale While XRP and Ethereum grapple with their respective issues, a new contender, Remittix, is making waves in the crypto community. The Remittix platform, due for a Q3 launch, is designed for swift crypto-to-fiat transactions, appealing particularly to businesses needing efficient cross-border payment solutions. The platform boasts of a secure and clean infrastructure . The innovative approach of Remittix addresses many of the inefficiencies that plague older blockchain technologies like Ethereum and even newer ones like XRP. With no high fees or complex contracts, Remittix offers a practical solution that's already gaining traction with merchants. Explore the advantages of PayFi through Remittix's upcoming presale at their official website . Stay connected with Remittix on social media . Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Bitzo, nor is it intended to be used as legal, tax, investment, or financial advice.
