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40 million XRP just got transferred to former Ripple executive Jed McCaleb

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The past few months have been a momentous in the crypto sphere, due to the events that have been going on with the price actions and activities of major cryptocurrencies and altcoins. One of the cryptocurrencies making constant headlines is Ripple (XRP) without any doubt.

Overall, great emphases have been continuously made on how money can be moved quickly and inexpensively using Ripple’s blockchain technology. However, just a couple of hours ago, about 40 million in XRP were transferred from one account to another, known to be owned by a former Ripple executive, Jed McCaleb. It still is not clear why the funds have been moved, but it seems both co-founders are cooking something up.

As the funds were transferred, the move didn’t go unnoticed by the Ripple community as the transfer involved a large sum of XRP. The Twitter bot @XRPLMonitor shouted the recent happening:

As soon as the event took place, the XRP community began to react to news since the transaction was unusual, and that it involved a large amount of XRP with a less cost – less than a cent.

A member of the XRP community who goes by the name Krisk tweeted:

Jed’s wallet (tacostand) sender.”

Another member, Jay Katana also tweeted in reply to Krisk:

“XRP dump + XLM pump incoming then, if true.”

Lots of findings are currently on, on why this fund has been transferred – it may be towards a new venture of Ripple (XRP), or probably, it may point to the idea that it was a pump on XLM blockchain owned by Jed McCaleb. Some members in the Ripple community also see it that Ripple is trying to show its cost-saving abilities.

As stated earlier, the receiver’s account is owned by the owner of Stellar (XLM), Jed McCaleb, who is also the real creator of Mt.Gox exchange. According to the New York Times, it is essential to know that McCaleb held a large amount of XRP worth $20 billion in Jan. 2018.

On the other hand, the sender’s account is believed to be owned by Ripple itself. Nevertheless, lots of speculations have risen on why two co-founders are allegedly transferring large chunks of money from one account to the other.

This is not the first time these type of events have happened – as about three months ago (August), $2.3 billion in XRP got moved between Ripple and Jed McCaleb.

As of now, the reasons for the recent transaction remains unclear, but we may see more insights in a few days to come (or maybe within hours). No doubts, the current happening points to the fact that digital assets can change the way money moves from one place to another – but we aren’t sure on the real motive of the recent transaction.

Meanwhile, XRP rests in red by a fraction at the time of writing as it is trading at the price of $0.5353 after going down by 0.48% in the last 24 hours. Let’s see how this sudden massive XRPs movement affects the price.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin

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UpStake, an exciting cryptocurrency project officially launched last year, is all set to take the global crypto community by storm. Unlike hundreds of crypto ventures that fail to make any impression, UpStake is dedicated to delivering a stable digital currency that will pave the way for mass adoption around the world.

London, UK – Jan 16, 2019

London-based crypto startup UpStake is well on its way to revolutionising the global cryptocurrency industry by eliminating many of the limitations that have stifled growth for years. Launched in 2018, this promising initiative is focused on ensuring mass adoption of cryptocurrency by providing a usable, stable form of digital currency to the crypto and blockchain communities across the globe.

This proposed blockchain ecosystem is built around UpStake tokens (UPS), the platform’s proprietary token. UpStake asserts that these tokens have been designed to increase in value over time, and set the stage to build great products and services which result in better user experiences.

In order to ensure continuous increase in value of UPS over time, UpStake has built a Proof-of-Burn model that burns a certain percentage of tokens sold through their exchange.  This model helps create the value that contributes to the ever-growing price point of the token. It not only enables the token price to…

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How Online Casinos Can Adapt to the Growth of Cryptocurrency

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The growth of cryptocurrency is difficult to ignore and industries are having to adapt in order to facilitate all of the people who want to buy goods and services with crypto coins. Multiple coins are on the rise, helping cryptocurrency’s star rise. Bitcoin’s price is back above $4,000 and it is joined by other coins like Ethereum, which makes use of the Ether blockchain.

But accepting cryptocurrency – or appealing to crypto users – isn’t as easy as just tailoring your marketing strategy. Other steps need to be taken and we’ve detailed a handful of these below.

Increased Safety and Security Measures

Online casinos are already very good at ensuring that customers and their data (including personal information and payment details) are kept secure. Some of the existing online safety measures employed by online casinos include HTTPS and SSL, which means that any information passed between you and the online casino will be encrypted and difficult for malicious agents to gain access to. Leading casinos are also certified by…

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Lite.IM Dethrones Facebook After Integrating Crypto Wallet With Popular Messaging Platforms

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With the crypto markets in turmoil, especially after news about a potential hack at Cryptopia, traders and investors need to turn their attention away from day trading.  Instead, crypto traders really need to think long-term and identify projects that are sure to win in the long-term.  In particular, one crypto company is making major headlines after winning an all-important technology battle against the mighty Facebook.  That company is Zulu Republic (ZTX).

Zulu Republic Develops Lite.IM

Zulu Republic is an ecosystem of blockchain tools and platforms, designed as a place where people, businesses, and organizations can thrive on their own terms.  And indeed, Zulu Republic has hit a grand slam with their development of Lite.IM.

Lite.IM is a crypto wallet that has been integrated with several of the most popular messaging platforms such as Facebook Messenger and Telegram.  In addition, users in the U.S. and Canada can also exchange and manage crypto balances through SMS.  Although not all cryptocurrencies are available, the team has selected four of the most popular currencies which include Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and the native currency of Zulu Republic (ZTX).

Telegram and Facebook Messenger are extremely popular platforms.  But, potentially even more exciting news, is that the Lite.IM team plan to announce WhatsApp integration in the next 1-2 weeks.  There is a reason why Facebook acquired WhatsApp in 2014, for…

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