Most analysts predicted a bullish momentum in the cryptocurrency, and that is taking place currently as there is an increase in total market capitalization by more than 30% in the past 24 hours. Reddcoin (RDD) is among the coins on the rise as it has doubled its price by 130% (from $0.003 in the past two weeks to $0.007 currently).
From the general point of view, Reddcoin increased in price just like the other coins in the market; but then last week’s announcement could have played a major part in the hike. On Tuesday last week, the company announced the release of ReddCard and ReddPay, which might have triggered the boom as well.
The “big” announcement
On Thursday, last week, the company declared that it has plans in place for launching a WebID wallet for its users. Basically, the wallet will allow easy deposits, access, and sending money to various wallets.
Coming soon, #ReddHeads, the #webID #cryptowallet! Why Reddcoin? Don't pay high #fees and waste energy with #BTC or #BCH! #Reddcoin #staking rewards you with #RDD for securing the network without pointless #mining. Get your #Redd today and #Stake_on!
— Reddcoin (@reddcoin) April 18, 2018
Reddcoin is designed to be used in social networks and not like social networking itself. Currently, unlike the old times, almost 95% of businesses are inclined to social networks for sales and advertisements.
The reason is simply due to overcrowded social networks; you hardly will find each one around you using Instagram, Facebook, Twitter, and many other networks. Information is smoothly transferred to the general public in an increased way of understanding, thanks to the social media today.
However, many social platforms over the years have faded away due to the lack of incentives — and that’s exactly what led to launching Reddcoin. This social media token will provide a platform linked to all social media platforms, which will give the users a straightforward blockchain solution unlike the general blockchain community where grasping the concept is a big deal for most individuals.
The WebID wallet
Apart from the announcement about its release, there is nothing that has been said yet. Ideally, the wallet will allow fast and quick transactions alongside providing a staking platform. Notwithstanding, staking using the wallet will save large amounts of energy used for mining Bitcoin and other coins.
Indeed, the WebID wallet is a great project for RRD as it aims to hit the $1 mark. Currently, Reddcoin is ranked 77 as per the market capitalization, and from a daily volume of $4 million a day ago; it is now sitting at a daily trading volume of about $60 million. Subsequently, the coin has $28.8 billion in circulation and a market cap of $220 million.
What is more regarding Reddcoin WebID wallet? As of now, it is just an announcement with the date of release yet to be announced. But still, as things are shaping, it seems all positive with Reddcoin ticking towards one penny. Whatever happens, we have got you covered for more updates as they happen.
We will be updating our subscribers as soon as we know more. For the latest on RDD, sign up for our Telegram!
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.
Image courtesy of Elizabeth via Flickr
3 Coins Coinbase Will Adopt Next
Coinbase is one of the largest and most popular cryptocurrency exchanges in the world. However, throughout its existence, it was very picky when it comes to which coin it will adopt. So much so, that it has become a very large achievement to get support by the exchange.
Recently, however, Coinbase has decided to act on its users’ wishes and expand its list of accepted coins. In theory, this was a big deal, and the exchange actually started looking into a lot of coins. However, it only adopted a few of them. Right now, Coinbase is supporting Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, USD Coin, Basic Attention Token, and 0x.
Even so, Coinbase wishes to add more of them, but only after it ensured that the coins are a part of legitimate, non-controversial projects. As a result, the entire crypto community started speculating about which coins will be added next. This will also be something that we will try to answer today, by listing three projects that are the most probable candidates.
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What Will It Take For Bitcoin (BTC) To Rise Again?
It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.
What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.
Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.
What does Bitcoin need in order to have another bull run?
1. Bringing regulation
The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and…
Stellar plans to Airdrop 150 Million USD in XLM to Blockchain Wallet Users
Recently the Stellar Development Foundation partnered with Blockchain Wallet to airdrop $150 million value of XLM, to the owners of the wallet. The Block declared that the first batch of XLM would be shared this week for all users who signed up to use the Blockchain wallet.
The team behind the stellar Development Foundation hopes that this partnership will make XLM a real rival for other cryptocurrencies from the market.
The co-founder of Stellar, Jed McCaleb declared the following about the airdrop:
“We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens for free is an invitation to communities to design the services they need.
By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network’s utility by many orders of magnitude.”
Just $25 value of XLM each
To share some respect to the worth of XLM will distribute for each user, the team of Blockchain wallet declared that after verifying the identity when signing up to the wallet, $25 value of XLM will be shared to each. Furthermore, there will be a first- come and the first-served clause in this airdrop which says:
” Offer available until XLM giveaway supply is depleted. Limit of one XLM airdrop per person, unless participating in any bonus activities.
A person can receive the XLM airdrop in only 1 Blockchain Wallet. XLM…
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