Connect with us

Don't Miss

Ripple CTO: XRP price needs to go high for the firm to target bigger payments

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

While they are two different entities, Ripple and XRP both have one thing in common. The two bodies are gifting customers with the option of choice while concurrently pushing for the validation and integration of Ripple’s three main products, xVia, xRapid, and xCurrent.

While some of the companies partnering with the companies are from third-party establishments (which Ripple refuses to advertise on their official social media platforms) the mention of XRP by these amalgamating companies is enough to send shivers in the crypto space. There is a strong relationship between Ripple payments and XRP prices, a recent statement of David Schwartz hints to that quite well.

Nexo, Coil, Xpring, and Omni

A majority of the integrating members are from Ripple’s product, Xpring, that was started as a Ripple initiative to support committed blockchain startups that intend to adopt XRP in their operations. The Xpring initiative makes sure Ripple has the key to advance, and they go extra miles to advocate for the adoption, incubation, purchase for these products.

After securing some 25 million US dollars funding from Ripple and other like-minded companies a few months ago, Chris Larsen and Stefan Thomas, the individuals advising Omni, advised the startup to go public on their integration of XRP.

One of the primary missions of Omni is to change the current perception that exists in the renting out sector, allowing users to rent out items they have but don’t need getting paid in XRP.

For Omni, operating using XRP is a new option that has been affected as an enhancement for the fiat option allowing users to enjoy a first-time crypto experience in their renting out activities.

Although not confirmed by the officials yet, Nexo, the cryptocurrency loan processor has integrated XRP as its fifth virtual currency to be allowed to act as collateral. An XRP button is already on the user interface although as state above, the company is yet to confirm these new happenings.

XRP (XRP) Sales Up

During the quarterly reports, blockchain settlement startup, Ripple, has indicated the significant improvement in XRP sales during the Quarter 3 period of 2018. Ripple released its default virtual currency’s, XRP, market report for the third quarter mid-last week where it shared the 120% growth that was recorded in comparison to the percentages that were met from the preceding quarters.

However, despite the increase in trade volumes, XRP fell slightly short of the corresponding XRP trade volumes from Quarter 1 2018.

During Quarter 3 of 2018, Ripple tactfully sold over $65 million worth of XRP assets which is said to account for just about 0.17% of the total XRP that exchanged hands during the quarter.

Moreover, still, on the quarter three figures, Ripple’s subsidiary, XRP II, LLC, is said to have sold over $95 million worth of XRP in direct institutional sales that helped the combined net sales that were experienced during the time to stand at about $165 million.

That is approximately about 120% higher than the corresponding figures that were recorded for Quarter 2 2018. The sales figures of XRP for Quarter 2 is believed to have stood at $73.53 million, so that figure is yet to match the third quarter sales figure of more than $165 million.

In the area of volatility, the Ripple report disclosed that:

“XRP volatility was light for the better part of the quarter, then surged in the last two weeks of the quarter as the prices also appreciated.”

XRP’s Year in Year Out Growth

Over the years, XRP sales amounts have continued to record upward growths as it has been the case this year except for a few occasional bumps.

In comparison to the $163 million worth of XRP that Ripple sold in Quarter 3 2018, Ripple sold a shadowy figure of about $19 million value of XRP in direct sales during the same time last year. An additional $32.6 million worth of XRP came from programmatic sales.

It is worth noting that the newest XRP market sales report did not feature or discuss the inclusion of new clients.

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

Altcoins

AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

Published

on

AZ FundChain
READ LATER - DOWNLOAD THIS POST AS PDF

Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver…

Continue Reading

Don't Miss

Why no one should be using banks

Published

on

why no one should be using banks
READ LATER - DOWNLOAD THIS POST AS PDF

If government is the devil, the bank is a demon.

It’s not your money anymore.

The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.

Government will know everything

Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.

Banks ask too many stupid questions

It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.

They can legally suspend your account or even steal your money

Laws are not made to protect people, they are made to protect the…

Continue Reading

Don't Miss

Neteller to Launch a Crypto Exchange

Published

on

Neteller
READ LATER - DOWNLOAD THIS POST AS PDF

The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?

Neteller and Cryptocurrency

Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…

Continue Reading

Elite