SOL Replaces XRP on HKVAC’s Global Large Cryptocurrency Top 5 Index

• HKVAC has replaced XRP with SOL on its Global Large Cryptocurrency Top 5 Index. 
• The agency said the changes to the index will take effect on January 19. 
• The development follows months of heightened interest and investor activities in Solana.

The Hong Kong Virtual asset rating agency HKVAC will remove XRP from its Global Large Cryptocurrency Top 5 Index, according to a recent announcement on its website. 

The report details that XRP will be replaced by the Layer-1 blockchain network Solana. The  change follows months of heightened interest and investor activities in Solana. As a result, the token saw a tremendous jump in its value and a rise in transaction count towards the end of last year. 

During that period, Solana flipped XRP as the fifth-largest cryptocurrency network and briefly crossed BNB before the upward trend cooled. At the time of press, Solana has a market cap of $42 billion, and sells at $97 apiece, according to CoinMarketCap data.  

On the other hand, XRP’s market cap of $32 billion is $10 billion less than Solana’s. Presently, XRP is exchanging hands at $0.5907, following a 1.13% drop in the past 24 hours. 

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