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Reasons Behind The Recent Ripple (XRP) Bull Run

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Ripple

Ripple is the third largest cryptocurrency and one of the most meritorious investments whose market capitalization hit $122 billion USD in January. This incredible bull run crowned Ripple co-founder Chris Larsen as the 8th wealthiest man on earth. The Ripple team has shown their inclination towards payment systems and are still working on revolutionizing Ripple’s unique features and products. Ripple has been delivering their promises since the very beginning of its partnerships in Silicon Valley. Its popularity, increasing adoption, and its smart and consistent development team are some of the reasons why investors find it a promising investment.

Aim for Ripple

Ripple has a simple goal of becoming the most preferred payment solution. Current banking systems are slow, have limited transparency and expensive and hence, cannot function as a global payment system. But Ripple has every feature required to be an ideal global payment system. The idea is to reduce entry barriers and enable a better global payment system which is known for its wide-scale activity.

Features and products

The name of the global payment system created by Ripple is called RippleNet. Its function is to create a global network of banks using which anyone can send or receive payment by the help of Ripple technology. The RippleNet will soon have real-time messaging, gross settlement (means sending funds or securities between two banks) certainty for all transactions made and clearing. In order for it to work, Ripple has been forming a partnership with several banks so that the users around the world can interact with the bank with the help of the RippleNet enabled bank.

RippleNet has three more products which are as follows:

  • xCurrent: Payment Processing

It enables payment processing between banks while increasing its speed, transparency, and efficiency.

  • xRapid: Liquidity Source

xRapid can be thought of as a pool of funds that banks can access in order to transfer funds easily without having to pair up transactions.

  • Xvia: Global Payment transaction system

This is a web services layer that allows corporates the ability to safely make real-time payments with rich data attachments.

Ripple and Banking

Banking clients of Ripple are their strongest proposition. They didn’t just come up with a revolutionary idea, but the Ripple team has literally shown how it’s done. Being a two-sided company, which needs supply as well as demands, the execution of their idea, was complex ‘supply’ in case of Ripple are the banks and ‘demand’ are the users or businesses. Ripple first fulfilled their supply side and kept adding one bank after another which resulted in an increased number of customers. The list of banks that are now with Ripple is growing each day. AK Bank, Axis Bank, UBS, SBI Remittance, Mizuho, Standard Chartered and newly added Santander are just a few of the influential partnerships formed by Ripple throughout Q1 of 2018. This is one of the major reasons behind Ripple’s high price point and growing community of believers.

Rumors surrounding Ripple and Apple Pay

One of the best rumors surrounding Ripple at present is pairing up with ApplePay. There are indications that Apple has decided on implementing Ripple’s interledger protocol into ApplePay. Being one of the greatest technology corporate in the world, if this rumor turns out to be based on reality then it could take Ripple to the moon in the blink of an eye. Since Ripple tech enables faster and more secure transactions which is the most sought-after feature for each payment system that exists in this world. If this collaboration happens then soon all Mac users, as well as iPhone users will be able to use it. This collaboration would also mean that Apple pay will soon decide to accept cryptocurrencies as payments which would give not only Ripple a nudge, but all cryptos will enjoy the Bull run caused by it.

Ripple Listing on SBI Virtual Currencies

The cryptocurrency exchange of the Japanese company, that provides financial services, known as ‘SBI Holdings’ made an announcement on 11th April.  They announced the launch of an exclusive listing of Ripple (XRP) during the launch period of the platform. The beta launch began on January 30th. This exchange was created in order to align the process of trading for cryptocurrency for individual traders as well as institutional customers which are based in Japan. Mr Yoshitaka Kitano, the most respectful figures in Japan and the world of banking, who represent the head of the consortium of around 60 different banking institutions and the CEO of SBI Holdings tweeted about his belief in Ripple and the technology behind it and predicted that it’ll soon reach close to $10 USD by the end of this year. Now Ripple has become their choice as a safe alternative for executing high-level overseas operations and broke their previous partnership with Huobi.

Conclusion

Although Ripple is still on the way towards bringing a definite change in the banking and payment systems all around the world, this blockchain project will always be regarded as one of the best performers of all time. With the original idea, a smart business strategy and loads of accomplishments have put a Ripple in the place of third cryptocurrency giant. At the time of writing, the price per unit is close to $0.88 standing with a market capitalization of $34 Billion. Around $722 million worth XRP has exchanged hands within the last 24 hours. There are indications of a bullish week ahead of Ripple as it keeps hitting headlines and proving to be a true game changer.

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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