Connect with us

Featured news

Ripple Escrows 55 Billion Tokens Averts XRP Oversupply Concerns

Published

on

Ripple Escrows 55 Billion Tokens Averts XRP Oversupply Concerns
READ LATER - DOWNLOAD THIS POST AS PDF

Ripple price has received a major boost after the company locked up 55 billion XRP tokens in an escrow account as part of an effort that seeks to control supply in the market. The Fintech startup is to release 1 billion tokens every month for Ripple use. Any unused tokens will be placed back in escrow.

 Escrow Lock up Impact

People can now mathematically verify the maximum supply of Ripple tokens in supply at any given time. Secured escrow account also creates certainty for XRP supply as the Fintech startup continues to demonstrate tremendous track record when it comes to supporting the ecosystem.

Regulating the amount of XRP tokens in supply underscores the company commitment to building liquidity and a healthy trusted market. Initially, there were concerns that flooding of the coins could lead to a price crash.

The move to control token supply appears to have strengthened investors’ confidence in the cryptocurrency after coming under pressure in recent weeks. Trading volumes have swelled up in the aftermath of the escrow development to nearly $700 million. Nearly half of the Ripple’s trading volumes comes from exchanges in South Korea, led by Bithumb and Coinone.

XRP Price analysis

Ripple price had initially dropped to $0.205 amidst concerns of the number of tokens in supply. The cryptocurrency has since bounced back and is currently trading at the $0.247 handle. The crypto faces immediate resistance at the $0.255 mark, which is a key resistance. A close above the level could see the cryptocurrency making a push for its all-time highs of $0.28.

On the downside, XRP price is protected by a key support level at $0.22. A close below this handle could result in the cryptocurrency dropping to the $0.20 mark. With the price above $0.23, the digital currency is currently trading in an uptrend.

XRP Fundamentals

Unlike other digital currencies that have been trading on speculation, Ripple XRP price remains well supported by solid fundamentals. Government’s regulators and central banks are currently using Ripple’s underlying technology and currency.

XRP has grown in popularity in part because it remains one of the fastest, efficient and most scalable digital asset in the world. Each transaction on Ripple system is normally processed in under 4 seconds in comparison to two minutes for Ethereum and over an hour for Bitcoin.

Institutions are increasingly using the digital currency for cross-border payments given that the blockchain can be scaled to handle up to 1500 transactions a second.

We will be updating our subscribers as soon as we know more. For the latest updates on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of ak Yip via Flickr

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

Published

on

Encrypgen
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

Continue Reading

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite