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Here Is Why Ripple Separating itself from XRP, the Coin, is a Good Thing
For a very long time, crypto traders and enthusiasts have continually used Ripple to refer to the digital asset known as XRP. It was okay to do so during the months of November and December last year, but when the Ripple company is facing 3 lawsuits as well as the SEC, it is prudent to know the distinction between the two entities.
Global Coin Report had earlier highlighted that the popular crypto tracking website of Coinmarketcap.com was the first to conclude that XRP is separate from Ripple. The website did this by newly naming the digital asset via its cryptocurrency code of XRP. This, in turn, could be translated as being that the good team at Coinmarketcap has also concluded that XRP is not a security.
In line with this conversation, the Ripple company has issued a statement via Twitter stressing that XRP and Ripple are two different and totally independent entities. In a tweet, the Ripple company stated that:
“The digital asset #XRP and the company #Ripple are distinctly different.”
The company would go on to give reasons why the two are separate by giving more information on its website.
So why is this a good thing?
To begin with, the SEC will now see the clear distinction that XRP is separate from Ripple. Not being biased, but the guys at the SEC are a little bit older than your average crypto trader. This means that for them to grasp the sense of what XRP is, the Ripple company and the XRP community need to lend them a hand in explaining the differences. Once this concept is grasped by the SEC, even the judges handling the 3 Ripple Lawsuits will also understand these concepts and throw the cases out the window.
To add to the above, separating XRP from Ripple now means that the company of Ripple is the biggest XRP HODLer out there. They can choose to dump a bunch of coins into the markets or choose to lock them up in Escrow. This is, in fact, is not a bad thing. It amplifies the fact that Ripple is a separate entity once again. Although a more ‘competitive’ position when looking at it from another XRP HODLer’s point of view. But knowing the guys at Ripple, they love the coin. They will not dump it.
The last reason why it is a good thing that XRP is separate from Ripple is that the institutional investors that were seated on the fence with respect to buying XRP, will now see the proverbial light and jump in with both feet. The buying of XRP might still be gradual and cautious with the pending cases and SEC comments, but it is still some progress in the right direction.
In conclusion, XRP continues to be one of the most loved and held digital assets in the crypto verse. With Ripple offering clarity between the two entities, the doors are open for the 3 pending cases to be resolved as well as the SEC declaring XRP is not a security. This will, in turn, bring in the institutional investors with their ‘big money’ signaling the beginning of an XRP Bull Run.
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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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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. One of the ways to have a successful…
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…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
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