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A Close Look At XRP For 2019

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XRP

XRP is currently the second largest coin by market cap, and it managed to hold on to this position for the larger part of the past three months. It is also one of the most popular cryptocurrencies in the market, and maybe even the closest one to reaching mainstream usage.

The potential of XRP

XRP is a coin developed by a company called Ripple, and while the coin was initially called by this name as well, it changed its name in an attempt to differentiate itself from the firm. One reason for this is that many believed that Ripple controls XRP, which is something that the company has always claimed to be false.

Even so, XRP remains Ripple’s native cryptocurrency, and it is used in combination with many of its products that aim to improve payment systems of various banks and financial institution. This is XRP’s largest use case to date, and more than 100 banks and financial institutions around the world have recognized the potential of the coin and Ripple products.

The products in question, mainly xRapid and xCurrent, are improved systems that allow transactions to be completed within seconds, even when it comes to cross-border payments. Furthermore, they are much cheaper, with lower fees than the ones used by banks so far, which also tend to take entire days to be processed.

Benefits of these products were clear to the banks as well, and while they are typically still quite skeptical of cryptocurrencies, they realized that implementing such systems is the only way to parry the innovations which cryptocurrencies are bringing.

XRP controversies

As mentioned, the crypto community was quite skeptical of XRP at first, and this did not change until very recently. The coin’s connection to Ripple and banks added even more fuel to this attitude, and XRP was accused of many things, such as centralization, not being a real cryptocurrency, market manipulation, and more.

It also had to face several lawsuits by unsatisfied investors, many of whom believed that the company created a coin just to use it to trick investors and get rich. Ripple always denied such accusations and made an additional effort to distance itself from the coin. They claimed that XRP could survive, even if Ripple ceases to exist, which should serve as proof to everyone in the crypto space that XRP is decentralized.

XRP performance

Ripple’s and XRP’s efforts ended up being quite successful, and the coin is now an accepted and well-respected cryptocurrency. Even so, its value remains rather low, sitting at $0.316004 at the time of writing.

However, the coin has reached higher levels of stability in mid-December, and for weeks now, XRP value remains between $0.32 and $0.36. As XRP continues to expand, a rally at some point remains a possibility, although this depends on the state of the entire crypto market.

Meanwhile, XRP continues to build up its network, connecting banks and financial institutions around the world. Apart from that, it is also listed on more than 100 crypto exchanges, although it has yet to win its place on Coinbase. If Coinbase does decide to list XRP, this might be just the push it needs for its value to skyrocket.

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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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Charts courtesy of TradingView

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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