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ReddCoin (RDD) Rising As Trading Volumes Soar Significantly

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ReddCoin
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As evident from the price movements, ReddCoin (RDD) is making a terrific comeback in the crypto market. The trading volumes of this popular altcoin have soared substantially, causing its price to increase by 20%. So, what is the driving force behind ReddCoin’s price surge? This article explores what you need to know about ReddCoin’s breakthrough.

What’s Up with ReddCoin (RDD) This Week?

With the crypto market recovering from a massive price slump, almost all the currencies, both small and large are dropping in value. Under such circumstances, it is really wonderful to find out about ReddCoin’s accomplishments. This social media’s favorite currency is not only doing well but also making smashing gains, much to the traders’ disbelief. Trading less than a dollar, the currency is rapidly gaining recognition in the mainstream crypto space for its stability.

Going by the price records, ReddCoin’s performance has been impressive so far. Apart from gaining 20% from its earlier position, this altcoin is smashing its way to lead the rally of big crypto gainers. As of April 19, 2018, the market capitalization of ReddCoin (REDD) is tantamount to $223,358,851.

ReddCoin Gains 20.93% as the Trading Volumes Escalate

ReddCoin, which is soaring since the beginning of April, is trading at $0.007753. The price hike which has begun in the first week of this month is continuing its trend. At this rate, the currency could reach $1 in the coming weeks. The mid-April price boom of REDD, which is accompanied by a smashing 20.93% gain, has resulted in a surge in trading volumes subsequently. As per the price records, the trading volumes of RDD have been rather impressive this week. While the trading volume of REDD was tantamount to $45,576,500 on April 18, 2018, the volume has reached $59,224,500 at the time of writing.

What is Reason Behind the Surge?

As analysts across the globe explore the price movement of the currency, many traders are left to speculate what led to the upsurge. If you are still wondering what caused such an upturn, here’s the gist of the story:

Bittrex

Bittrex has a huge role to play in the sudden upsurge of RDD. The registration process, which has been closed in December, was activated again recently.  This came as a big surprise to the smaller coins that used Bittrex platform. Incidentally, ReddCoin also falls into this category wherein such an announcement caused quite a stir among the ReddCoin investors.

Micro-Payment Facilities

ReddCoin, which is keen on bringing innovations into the blockchain technology, is now allowing micro-payments through social media. Following the controversies pertaining to the security breach, many social media platforms are converting the transaction deal into a paid enterprise. This is especially true for Facebook. Under such circumstances, Reddcoin’s efforts to permit micro-payments are a huge milestone. If the plan works out as it was envisaged, Reddcoin will be accounted as one of the practical alternatives for traders and investors.

The Release of ReddCard and ReddPay

As the speculations regarding the hike continue to grow, it essential to analyze the upturn in the light of the recent developments. Discernibly, the ReddCoin developing body has released two exciting new projects to improve the user-response. This altcoin, which has widely gained recognition for its involvement with social media, has strived to improve the traders’ engagement in the past. After the implementing several cryptocurrency transfer tools in the past, the new projects are luring traders into investments.

The ReddCoin card, also known as ReddCard, is designed to transfer ReddCoin via a card, using the QR code. A similar format is responsible for sending funds to ReddCard wallet. ReddPay, which is developed to bridge the gap between Reddcoin and Fiat currency, strives to build a simple system for transferring funds. Aside from providing users with a simple transfer system, the RedPay has created a buzz in the community for very few formalities and lesser fees.

At any rate, the coin is still a long way from the $1.00 target. Considering the increased audience engagement with the currency generated by the release of ReddCard and ReddPay, there is no reason to believe the coin will not reach its target, the $1mark.

Price Forecast for ReddCoin

With the price of ReddCoin steadily increasing, the cryptoanalysts are anticipating the possibility of the further price hike. The mid-April boom of this promising currency, which led the trading volume to rise by 700%, is still influencing the coin’s activities in the crypto market. Although the rise of this altcoin has sparked varied discussions from the crypto enthusiasts, it’s difficult to pinpoint one particular reason. While many traders feel the price will touch $1 this year, others rule out the possibility as an improbable idea. Moreover, with Ripple rising above $3 last year, such a possibility cannot be entirely dismissed.

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 Bill Damon via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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