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ReddCoin (RDD) Price Analysis: Will it Hit $1 This Year?

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ReddCoin

Like some of the hyped-up blockchain projects in the market, which include the likes of Steemit and Kin, ReddCoin has monetized social media market, allowing users to earn revenue for socializing. ReddCoin, which rewards users for using its social media platform, can be accessed through its browser on any standard search engine. RDD, the token powering the ReddCoin blockchain, serves as an intra-payment currency, wherein it can also be used to execute trades on external platforms.

As a social media currency, this cryptocurrency has made a special place in the community by tipping participants for publishing rewarding content. ReddCoin, which is often compared to Steemit networking platform, differs from its peer in terms of the rewarding system; as opposed to Steemit, ReddCoin is developed for all popular social media channels, including Facebook, Twitter, Instagram, etc. This article traces some of the recent developments ReddCoin and its performance in the market, offering a price forecast for 2018.

What Has ReddCoin Been Doing?

This year, which has been a great year for the altcoins, has seen some worthwhile developments from ReddCoin, the social currency. If you are not attuned to what’s up with ReddCoin, here’s a quick recap:

ReddCoin’s Partnership with Investa

This rising cryptocurrency, which launched two new payment processors, ReddCoin and ReddPay in April, anticipates releasing its debit card, as well as, an exclusive ATM network, after partnering with Investa.  As evident from Investa’s past developments, the blockchain enables users to access a web wallet, an exchange, as well as debit cards. With the availability of payment facilities like credit cards, ReddCard, ReddPay, and ATMs, executives will now have the opportunity of accepting the currency as payment.

The Release of WebID Wallet

ReddCoin has captured the interest of traders with the launch of new payment processors earlier this year. Widely acknowledged as a social media currency, RDD is popular for its user-friendly approaches. In its effort to improve the user engagement, the coin announces the launch of WebID wallet, which an appreciable processor that transfers funds to other wallets and processes transactions. Much to the traders’ convenience, all transactions made using WebID will be instant, allowing users to stake their currencies through the wallet.

With the crypto market recovering from a major price slump, and some of the prominent currencies trading in the red, ReddCoin’s rise came as a surprise to many investors. Tracing some of the developments that were executed on the blockchain recently, it’s not hard to understand the ReddCoin frenzy.

ReddCoin and the Crypto Market

As investors are likely to be aware of, ReddCoin has seen a steady rise in the past couple of weeks, and much of its credit can be accorded to its stunning developments, which has influenced the user-engagement considerably. As per the price records, the price of ReddCoin has touched an all-time high in January, closing at $0.03 USD. Tracking its price movement in the first quarter, its flame was doused due to an unexpected bear run which kept it down in following months. The price of the coin which skyrocketed in January experienced a steep decline in mid-March wherein it dropped to $0.004. Nevertheless, it has come a long way from those dark days, as ReddCoin’s is heating up again, prompting investors to shift their attention to this currency.

As per the updates published on May 3, 2018, ReddCoin (RDD) traded up, gaining a smashing 6.2 percent gain from its earlier position. As of May 4, 2018, ReddCoin will be available to traders at $0.011117 on all major exchanges, which include Vebitcoin, C-Patex, Bittrex and Trade Satoshi. With a market capitalization of $320,275,107 at the time of writing, RDD’s trading volume is tantamount to $38,457,100.

ReddCoin’s (RDD) Forecast for Future  

ReddCoin is currently trading at $0.011117, which is far behind its $029479 milestone in January. However, its latest developments place the coin among the top gainers in the crypto space. The statements issued by the executives, along with the advancements made in recent weeks, boosted its place in the market. As the trading volume soars past the $25 million mark earlier in April, ReddCoin is all set to embrace a raging bull run.

The currency, which closed the first quarter in the green, has also introduced some developments on the blockchain, providing the investors with a marvelous solution for sharing information in a simplified format. Whether it is the launch of WebID wallet or the release of two new payment processors, ReddCoin is prepared to make a fresh comeback in the market.

Although the burgeoning popularity of ReddCoin can be associated with its status as the social media game changer, this rising altcoin is all set to peak the charts again, and considering its position as a lead in the crypto rally, it’s not hard to imagine RDD crossing its record-high set in January.  While some investors dismiss its upsurge as a speculation caused by the release of the payment processors, many analysts anticipate major developments in the future. At any rate, going by its market response, it is difficult to rule out the possibility of ReddCoin hitting the $ 1 mark in 2018.

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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. One of the ways to have a successful trading…

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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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