Connect with us

Don't Miss

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

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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.

Image courtesy of Flickr

Don't Miss

How Cryptocurrencies Will Change Online Gambling in the Future

Published

on

online gambling
READ LATER - DOWNLOAD THIS POST AS PDF

Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

Continue Reading

Don't Miss

VOLUM (VLM) Announces Commencement of Token Generation Event

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

Continue Reading

Don't Miss

How to Secure Yourself in Relation to Bitcoin: Top VPN Services

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

Continue Reading

Elite