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Here Is How An XRP Bull Run Could Begin This August

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XRP

The crypto-markets are experiencing some sideways movement at the moment of writing this. The total crypto market capitalization is stagnant at levels of above $250 Billion and currently at $252 Billion. The King of Crypto is having a hard time maintaining levels above $7,000 and is currently trading at $6,996 and down 1.14% in 24 hours. With regards to our favorite remittance coin of XRP, it has dropped by 1.8% in the last 24 hours and currently trading at $0.42.

Looking at how when BTC drops, XRP drops by a similar amount (1.14% and 1.8% respectively), it can be concluded that XRP is tied to the hip with BTC when it comes to market stability. As a matter of fact, the team at Ripple highlighted this fact in their 2nd quarterly report of 2018. They stated the following:

“XRP was notably less volatile in Q2 and XRP’s 9.0 percent price decline was in line with bitcoin’s 8.2 percent decline.” 

This means that once BTC is huffing and puffing in the markets during its highly anticipated Bull run, XRP will also not be left behind. Speculation is high that the CBOE Bitcoin ETF that is pending at the SEC will be approved sometime this year. Some had believed it will be postponed for another year or so, but the recent development of the owner of the New York Stock Exchange (NYSE) launching a Bitcoin market, has rekindled the hopes of an August Bitcoin ETF approval.

Switching our attention to the country of Japan, the SBI Holdings company through its VCTRADE platform is aiming at becoming the number one cryptocurrency exchange in terms of trading volume as well as superior customer experience. VCTRADE is very much XRP friendly. The future plans of the SBI Holdings company can be seen in their recent financial reports that highlight the following plans:

  • Acquiring new customers and retaining them through the provision of superior customer services at a low cost as compared to their competitors
  • Provide the narrowest spreads and high-level security for VCTRADE clients/customers
  • Implement a future services expansion policy that might include commission-free trading of BTC, BCH, and XRP on VCTRADE
  • Provide superior deposit and withdrawal services
  • Support of Ethereum (ETH) on the platform
  • Boost crypto fund businesses with the CoVenture Holding Company: an Asset Management Company based in the US and Co-founded by SBI
  • Start offering cryptocurrency financial derivatives through the Clear Markets Firm in the US. SBI owns a 12% stake and aims at acquiring up to 20%. The Clear Markets Firm provides an over-the-counter derivatives electronic trading service in the US, UK, and Japan

There is also news of Coinbase finally warming up to XRP through its Custody service. This service stores digital assets for institutional investors as well as high net individuals. Coinbase has not confirmed it will be supporting XRP in its storage service, but it announced it was considering it.

In conclusion, the future does indeed look bright for our favorite remittance coin of XRP in terms of market performance and investment products through SBI Holdings. This means that its current price might be the lowest it might be for the foreseeable future. Yes, it is a bear market, but the future looks too good not to buy or HODL some XRP.

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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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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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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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