The South African cryptocurrency has overtaken Bitcoin as the most valuable cryptocurrency according to data released by the CoinMarketCap platform on Monday.
The CoinMarketcap platform released data on the market value of the total amount of cryptocurrency in the country, based on transactions from April 10 to March 22.
Bitcoin was the most used cryptocurrency in total, followed by Ethereum and Litecoin.
The value of cryptocurrencies in South African currency was also relatively stable, according to the data.
The most popular cryptocurrencies in the state were Bitcoin, Ethereum, Litecoin and Dogecoin, according the data released.
However, there are several other cryptocurrencies that have been gaining traction in the market, such as BTS, XRP and ETH.
Bitcoin is the world’s most popular digital currency, according Toobin, as it has gained popularity as a way to pay for goods and services online.
The value of bitcoin rose over the past week as the cryptocurrency surged to record highs, according data from CoinMarketView.
Bitcoin reached $1,086.88 on the CoinmarketCap platform, a 22% rise from the previous week.
The Bitcoin price was up 7.7% from the same time last year.
Bitcoin had the fourth highest value in South Afrikaans in April.
It had a value of about US$4.3 billion.
Bitcoin has been the target of a wave of price volatility in recent months, as the price of the cryptocurrency has soared in recent weeks.
Bitcoin hit a high of US$1,097.00 on the cryptocurrency exchange Mt Gox last month, but it was subsequently reduced to US$800, the lowest level on record.