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Future Crypto Exchange by SBI Holdings will Use Ripple (XRP) as its Primary Currency

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Ripple
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The future of Ripple (XRP) might bring some serious changes to this digital currency. For now, most of what is expected to come only includes positive effects for this crypto.

It might sound strange, but in the world of cryptocurrencies, Sundays have always been regarded as “bad days”. A lot of traders noticed that, on Sundays, there is always a noticeable decline in the market’s volume.

Despite the fact that this theory seems a bit unreal and almost like a product of paranoia, a careful look can pretty much confirm the theory. Let’s take Bitcoin (BTC) as an example. It is trading at around $9,294, while it still manages to keep its level at $9,000. It basically went down for about half a percent within only 24 hours.

Other cryptos are also acting unusually, with Ethereum (ETH) is seeing its token value at $676, while even Ripple (XRP) went to $0.85. However, when it comes to Ripple, at least, things might change a lot real soon.

Ripple’s situation might change

Throughout the crypto world, there have been certain rumors and predictions about what might happen soon. There was a massive awareness that Japan’s SBI Holdings company really likes and supports Ripple, for as long as anyone can remember. Another piece of the puzzle includes an information that the SBI Holdings plans to launch additional crypto exchange, or maybe even two of them. What’s important about this is the fact that, if they do so, they will use Ripple trading as the exchanges’ base.

SBI’s original intention was to enter a partnership with Huobi in order to open these two exchanges. However, since crypto regulations regarding the exchanges are rather strong in Japan, the company gave up on that deal. Instead, they decided to try and complete this project on their own, which led to the creation of their exchange called SBI Virtual Currencies. They did it in order to improve their project’s security.

According to some speculations, it is possible that the project will see its launch during the Summer of 2018. Another thing that is expected here is that the exchange might enter FIAT/XRP pairing with other Asia’s big currencies. What this means is that Asian countries of Japan, that uses Yen, and South Korea, which uses Won, might end up trading with each other directly through XRP.

XRP is popular in Asia

XRP is seen as one of the biggest cryptocurrencies in the market right now, and the majority of that popularity comes from Asia. For example, some estimations claim that over 3.5 million XRP traders and holders are Japanese. They, of course, use other currencies as well, but XRP seems to be a local favorite for this area.

As for South Korea, its influence on the crypto world and market was experienced first hand when the government decided to ban digital currency trading. The end result was that the markets seriously tanked before anyone realized how big of a deal it will really be.

With that in mind, it is safe to say that the confirmation of SBI Holdings’ exchanges and their use of XRP/FIAT will also have major consequences. This will probably have a very positive result for Ripple, and it is estimated that its price might go up to $10 before the year ends. Obviously, this will be a great win for XRP, and the only thing standing in its way right now is time itself.

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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.

Image courtesy of Victor Escandon via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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