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Morgan Creek Fund bans Ripple’s XRP alike cryptos from its new crypto repository

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The controversy related to whether or not Ripple’s XRP should be considered as a security has appeared one more time as today it was excluded in the launch of the Morgan Creek Fund, a crypto related fund that provides its users the possibility of accessing some of the top cryptos in the market.

In this sense, whenever we mention ‘top cryptos’ we cannot avoid thinking of Ripple (XRP), the third largest cryptocurrency by market capitalization. However, as it seems, the third largest crypto is just not being considered by the fund because of centralization issues. Let’s see all of the details on this.

Morgan Creek Fund

The Morgan Creek Fund was created in collaboration with Anthony Pompliano, who formerly was the owner of a firm called Tilt Capital, a company that was acquired by Morgan Creek at the beginning of the year for an amount that has been undisclosed since the partnership started.

Earlier this year we knew by Pampliano himself that he would like to focus primarily on crypto, but it wasn’t till Morgan Creek managed to partner with the fund-sponsor Bitwise Investment Advisors, LLC; when the project started to shape.

Let’s recall that earlier this year, Bitwise launched as well a crypto-related fund dubbed HOLD 10. However, Hunter Horsley, co-founder of Bitwise clarified that the main difference between the two projects centers on the committee, as Mark Yusko, CEO of Morgan Creek, Pompliano, and Matt Hougan, head of the research at Bitwise, are a part of the board of advisors.

With relation to the fund, it was known that it carries $1.5 billion in assets, and they will provide pensions, wealthy families, endowments and accredited investors with an exposure to cryptos such as Ethereum (ETH), Zcash, Monero, Litecoin (LTC), Omisego, Bitcoin cash (BCH), EOS, Dash, Ethereum classic (ETC), and of course Bitcoin (BTC).

Among the excluded coins we can find Ripple (XRP), TRON (TRX), Stellar (XLM), Cardano (ADA), and other tokens that in accordance to Morgan Creek may represent a risk in the future.

Regarding this, Pompliano stated that,

“If there’s a central party that owns 30% or more of supply” that would be enough reason for the index to ban that crypto of the fund. He continued by saying that those coins holding high percentages of their own crypto have great opportunities to control the way the coin will perform, and that simply “introduces a lot of additional risks that may not be there if it was a more decentralized network.”

With relation to this, all of the coins that fit in this description are considered pre-mined cryptos, coins that were mostly created in the early stages of the blockchain. For its part, Horsley states in this matter that,

“with decentralization being a cornerstone of most blockchain designs, having a large portion of assets held centrally runs counter to that and could create complexities that differ from what we would expect from public blockchains”.

Conclusion

The decision of the Morgan Creek fund definitely represents a low blow for Ripple, which has made significant efforts to dispel the rumors of their centralization issues. Nonetheless, the company continues occupying the third place in the market concerning market capitalization.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Isaiah Rustad on Unsplash

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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