Connect with us

Blogs

ReddCoin (RDD) Rising As Trading Volumes Soar Significantly

Published

on

ReddCoin
READ LATER - DOWNLOAD THIS POST AS PDF

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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite