Ethereum Regains Title as Second Most Valuable Cryptocurrency Behind Bitcoin

It’s been a fierce battle for silver in the cryptocurrency world in recent days.

On Monday, Ethereum regained the title of second most valuable cryptoccurency after rival asset Ripple held its ground for roughly a week.

Ripple prices fell roughly 25% Monday to $2.50, leading a broader sell-off in the cryptocurrency markets. Bitcoin values also fell roughly 7.6% to $15,000, while Ethereum prices rose slightly, 2.5% to $1,155. That pushed Ripple’s market capitalization down to $98.5 billion, and lifted Ethereum’s value to $111.9 billion, according to data firm CoinMarketCap. Bitcoin, meanwhile, maintains its top spot with a valuation of $255.1 billion.

It was a hodge podge of news Monday that helped shape those shifting dynamics. For one, reports have emerged that the Chinese government, home to the world’s largest Bitcoin mining operation, would push for an “orderly exit” from the cryptocurrency mining business, Quartz reported.