UFC Rankings Update: Max Holloway down to No.8 on P4P list, Alex Pereira up to No.6 at middleweight, Alexander Volkanovski still trailing Kamaru Usman

UFC 276 saw this week's rankings update make major changes.

Notably, Max Holloway's one-sided defeat to Alexander Volkanovski has dropped the Hawaiian native down two places to No.8 on the P4P list. Replacing him is lightweight Dustin Poirier who climbs one place to No.6 and bantamweight champion Aljamain Sterling who is now No.7 on the list.

Despite dominating his trilogy fight with 'Blessed', 'The Great' remains behind Kamaru Usman at the top of the men's P4P rankings. Light heavyweight champion Jiri Prochaza cracks the top 10 for the first time at the cost of Jon Jones, who has fallen to No.11 after two years of inactivity.

Elsewhere, in the men's bantamweight division, Ricky Simon swapped places with Frankie Edgar. Simon is close to the 135lb top 10 as he finds himself No.11 and Edgar No.12.

Meanwhile, at featherweight, British hopeful Arnold Allen is at a career high No.5, climbing one place. Josh Emmett's split-decision victory over Calvin Kattar last month sees him tied with Yair Rodriguez at No.3.

The biggest shake-up has been in the middleweight division. Alex Pereira's stunning KO over Sean Strickland has meant almost every 185lb fighter has moved. 'Poatan', who was unranked before his victory, is now ranked No.6. Strickland's loss drops him three places down to No.7, while Marvin Vettori, Derek Brunson and Paulo Costa all climb one place.

Andrew Muniz's UFC 276 prelim victory over Uriah Hall meant the Brazilian entered the division's top 10 for the first time. Hall fell three places to No.12. Jack Hermansson and Darren Till, who are due to fight at UFC Fight Night London in July, also dropped one place to No.8 and No.9 respectively.

Lastly, at 185lbs, Brad Tavares' defeat at UFC 276 dropped the fighter down to No.15. Nassourdine Imavov dropped two places and is now No.13.

The final rankings update sees changes in the women's flyweight division. Jessica Eye's defeat to Maycee Barber meant she switched places with Barber, dropping three places to No.13 as Barber enters the divisions top 10. Cynthia Calvillo also fell one spot to No.11.

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Former UFC referee 'Big' John McCarthy believes Alexander Volkanovski should be above Kamaru Usman

Few fans could have predicted just how dominant Volkanovski would be ahead of his UFC 276 rematch with Max Holloway.

Heading into the bout 2-0 up on a head-to-head, the Australian had every reason to be confident but his performance may have even surprised himself. Few could argue that Holloway hadn't earned his second rematch against 'Volk'. Back-to-back Fight of the Night performances suggested he was certainly ready to test himself against the champ again.

However, at UFC 276, it was arguably the 33-year-old's best performance in the octagon to date. 'The Great' dominated every round and walked away with a unanimous decision victory.

In fact, his victory was so emphatic, former referee John McCarthy believes it was enough to put him atop the P4P list:

"I'm gonna say it right now. I'm gonna be slammed, but that's okay. Kamaru Usman is a phenomenal fighter, [but] Alexander Volkanovski is the pound-for-pound best fighter there is right now. He dominates great fighters."

Catch John McCarthy's reaction to Alexander Volkanovski's UFC 276 performance here: