It’s no secret that the cryptocurrency markets have been in an overall slump, especially when you consider all of the bearish action for bitcoin, ethereum, and altcoins, in 2018, compared to the incredible bull run of 2017.
While many people believe that this is simple consolidation, others paint the narrative that many are unsure about real-world applications for blockchain technology and whether institutional money will flow into cryptocurrencies at all.
Ripple is undoubtedly changing that narrative, recently surging over 80% thanks to its developments and partnerships with financial institutions.
It even briefly took Ethereum’s spot as the number two coin by market capitalization, in a price rally that confirmed a trend reversal and stunned many investors and traders in the cryptocurrency community. The price eventually decreased as Ripple returned to the number 3 spot concerning market cap, but the price movement certainly made a statement.
There are those who have been wondering whether Tron could make a similar move eventually, considering it is a project that has decreased dramatically in market cap, and many consider the coin oversold.
The fact that Ripple made an 80% move that quickly gave hope to other altcoins, and comfort to the cryptocurrency community that may be in the red that not only was it possible to break even again, but all was not lost in the markets, and that they can begin hoping to profit, in the long term.
In a tweet, Tron founder Justin Sun spoke about how the XRP surge was great for the markets and pointed out that a major financial institution like PNC bank believes in Ripple protocol and blockchain technology in general.
For context, PNC Bank is the 9th largest bank in the world, regarding assets. He also mentioned that former president Bill Clinton would be a keynote speaker at the upcoming Swell conference, which brings together leaders of commerce, policy, and technology in an attempt to increase dialogue about how technology can better serve society.
Mr. Sun pointed out that this clearly means that blockchain is “going mainstream.” It’s also important to point out that Sun had another reason to celebrate, as the Tron Foundation is a Ripple shareholder – although the quantity of XRP that it holds is unknown.
Sun also used to be the Greater China Chief Representative of Ripple, the fact that he stated proudly in his tweet, and went on to say that this essentially meant that traditional financial institutions would be adopting blockchain technology more.
Swell will be held in early October in San Francisco, and Clinton is also even expected to take questions from the audience, as well. Other prominent speakers include Brad Garlinghouse, the CEO of Ripple, Ed Metzger, the head of innovation at Banco Santander, and Eva Kaili, the Chair of the European Parliament’s Science and Technology Options Assessment body.
With more financial institutions adopting blockchain technology; the idea is that more institutional money will flow into the cryptocurrency markets, which will allow all sorts of cryptocurrency projects to rise in value. Time will tell whether we will see a similar surge from Tron, but it certainly seems more likely.
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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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Cryptocurrency vs. Blockchain Technology
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…