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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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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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