The crypto space never sleeps, and there is always something going on. Every day, there is some interesting event worth mentioning, some of which may even have significant consequences on the entire crypto space. With that in mind, here are the top three crypto events related to the crypto space that occurred in the previous week, and which may have impacted the world of digital currencies in one way or another.
1) A crypto Whale moves a large portion of XRP
Many have probably already heard the term “Crypto Whale,” as it is quite common to find discussions mentioning them and their activities. The term is a name used for coin holders which tend to buy, sell, or move massive amounts of digital currencies. These are usually professional investors with large funding who can impact the crypto market in any way they please, and make the prices rise or fall depending on their calculated business decisions.
They are called Whales because of the large amounts they move, which usually have a pretty big impact on the market. And, since they are so influential, there are many in the crypto space that have made it their mission to follow the activities of known Whales, and base their business decisions regarding the Whales’ movement.
One example is the Twitter account known as Whale Alert, which has around 50,000 followers. This account regularly posts updates regarding the biggest movements of Whales, whether it is a coin sale, purchase, or just movement from one wallet to another. The account also tends to indicate how big of a Whale in question is, by posting red light emojis in the report. The more red lights the report has — the bigger the Whale in question.
Well, earlier this week, Whale Alert reported several XRP movements made by a Whale that deserves 10 red lights. Whale Alert also reported that the Whale moved several hundred million dollars in XRP. The first movement was from Ripple OTC Distribution wallet to an unknown wallet, and it contained 392,834,643 XRP ($114,187,437).
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 392,834,643 #XRP (114,187,437 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet
— Whale Alert (@whale_alert) January 28, 2019
The second one included 463,420,929 XRP ($136,324,998), which were moved from Ripple to Bitstamp.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 463,420,929 #XRP (136,324,998 USD) transferred from Ripple to Bitstamp
— Whale Alert (@whale_alert) January 28, 2019
2) Weiss Ratings had a change of heart regarding TRON (TRX)
Weiss Ratings is a well-known group that was established to provide crypto investors with investment advice. The group also regularly publishes various reports, in which they take a closer look at some coins and rank them in accordance with numerous aspects. These may include anything, from the project’s technology and goals, to their performance, and how good of an investment the project may be.
With that in mind, it is worth remembering one rule that every trader and investor need to keep in mind — investment advice, even if coming from a professional, is still just advice. The crypto world is far too volatile and unpredictable for anything to be set in stone, which is why investors and traders should seek out other peoples’ opinion but also form their own before making the final decision.
The event that happened earlier this week is proof that even professionals make mistakes, and end up changing their mind. The event in question is Weiss Ratings, who gave TRON quite a tough time in the past, now praised it by stating that it is a promising project.
It appears that several of TRON’s actions managed to change the group’s mind about the project, including the hiring of a former US SEC official, which silenced any claims that the project is a scam which simply copied Ethereum’s code under a different name.
3) Cardano (ADA) might take the spotlight in 2019
It is no secret that 2018 has been a terrible year for cryptos. Their prices were shot down from their all-time high, and many have dropped by as much as 80%, or even more, depending on the project. However, there are indications that 2019 will be much more favorable for everyone involved with the crypto space, with some projects taking the spotlight away from the old hits.
One such project is Cardano (ADA), which shows all signs that it is ready to make a serious impact on the crypto space. The coin has always been surrounded by a lot of positive news and developments, while it managed to avoid any scandals or controversies. Furthermore, it also announced some big improvements, such as the upcoming Shelley release, which is scheduled to come to pass within Q1 of this year.
The Shelley release will be a big move towards decentralization for Cardano, and since decentralization is what the market and its participants currently desire the most, this will likely draw a lot of new users to the project. As mentioned earlier, nothing is set in stone, and that includes predictions regarding different cryptos. However, the potential is there, and while investors are encouraged to make their own opinions and deductions, pointing out that Cardano is worth keeping an eye on in 2019 should be taken into account.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
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