Bitcoin Is So 2017 as Ripple Soars at Year End: Chart
An electrical cable connects to a transformer used to power cryptocurrency mining machines at the SberBit mining 'hotel' in Moscow, Russia, on Saturday, Dec. 9, 2017.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The rout in cryptocurrencies isn’t sinking all boats. Ripple, which uses a network of nodes that includes financial institutions to validate transactions, has sustained the advance for its XRP currency as it reports interest from financial institutions and concern mounts over the costs of bitcoin mining. Bloomberg Intelligence says second-generation cryptocurrencies, including litecoin, ethereum and Ripple’s XRP have outperformed bitcoin as they focus on being "faster and cheaper."