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How Ripple (XRP) Will Surely Respond To The Launch of SBI Virtual Currencies Exchange

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Ripple (XRP) and the SBI Holdings Group have enjoyed a fruitful partnership for over 2 years now. What has resulted in the partnership is the formation of SBI Ripple Asia that has spearheaded the adoption of Ripple technologies in the region as well as innovation in the industry of fintech. So far, Ripple has access to over 61 banks in the consortium that makes up SBI Holdings.

It is, therefore, no surprise that the SBI Group wants to release a cryptocurrency exchange that plans to utilize XRP as the centerpiece for trading on the platform. The exchange, known as SBI Virtual Currencies, has updated its website and is now live for trading for users who had pre-registered back in October 2017. One thing to note is that XRP is the only cryptocurrency on the site that has been described in terms of what it is and its capabilities. The exchange will later add Bitcoin Cash (BCH) as the second traded digital asset on the platform.

This means that the CEO and President of SBI Holdings, Yoshitaka Kitao, was serious when he said that once the exchange is ready, it will feature primarily XRP and the exchange will eventually be number one. The exchange had been scheduled for launch this summer and the XRP HODLers and the entire crypto-verse is applauding and excited with the launch today, June 4th.

One thing to remember is that the country of Japan is home to over 3.5 Million crypto traders and HODLers. These traders are between the ages of 20 and 40. This will be the target demographic of the new crypto exchange by the SBI Holdings Group.

With respect to the cryptocurrency markets, they are still showing some upward mobility in terms of gains since the entire market came to its knees on Tuesday, the 29th of May. On this date, the total market capitalization of the crypto markets came to a recent low of $303 Billion and Bitcoin (BTC) was trading at $7,100 levels. The crypto markets have since regained $40 Billion at the moment of writing this and the total market capitalization stands at $345 Billion.

Bitcoin (BTC) is now trading at $7,629 and looks like it is on its way to levels close to $8,000. With respect to Ethereum, the coin is now valued at $621. Our beloved Ripple (XRP) is currently valued at $0.67 and up 3% in 24 hours. The aforementioned launch of the SBI Virtual Currencies exchange is what many Ripple HODLers were waiting for this summer.  Expectations of the platform are high in terms of assisting XRP to reach the $5 levels everyone is asking about.

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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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