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Ripple Escrows 55 Billion Tokens Averts XRP Oversupply Concerns

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Ripple Escrows 55 Billion Tokens Averts XRP Oversupply Concerns
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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

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Warren Buffett and TRON’s Justin Sun Finally Meet for Charity Lunch

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Warren Buffett
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The creator and CEO of a cryptocurrency/decentralised project TRON, Justin Sun, has finally managed to meet with Warren Buffett over a charity lunch. The billionaire and chairman of Berkshire Hathaway has been in constant negotiations with Sun over a possible lunch but the two executives were constantly busy, which has resulted in numerous postponements.

According to Cointelegraph, the two of them decided to meet on January 23 in Nebraska. They were attending a private country club there, but it seems that they weren’t the only ones who made it to the gathering. Some of the other guests who joined Sun and Buffett were Charlie Lee, the founder of Litecoin Foundation, Chris Lee, the CFO of Huobi, Helen Hai, the head of Binance Charity Foundation, and Yoni Assia, the CEO of eToro. 

Sun was rather excited about the event, claiming that it was ‘really an honor’ to meet Warren Buffett in person. Moreover, Sun stated that he was grateful for Buffett’s vision, wisdom, and dinner. Finally, he said he would always remember pieces of advice Buffett provided him with when it comes to making a better ecosystem for Tron and doing business with partners in the world of blockchain.

Why Was This Luncheon Organised in the First Place?

Those who are not from the crypto…

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Should You Invest in TRON in 2020?

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TRON
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Although the idea of using cryptocurrencies and incorporating them into the modern world is not that new anymore, some people still don’t have a clue about the many options cryptocurrencies offer. The majority of people probably know about Bitcoin, but there are many other cryptos that have evolved in recent years. One of them is TRON, founded in 2017 by Justin Sun, who managed to make it quite famous in one year’s time.

If you are only getting started with Tron, you probably don’t know much about this promising cryptocurrency. That’s why we have done some digging for you and found all the predictions for TRON in 2020. 

In this text, we will list all the facts brought up by cryptocurrency experts, so that you can see for yourself if TRON is something you would like to invest in.

Advantages

Let’s start with the positive aspects of TRON. There are several good things that indicate how successful this cryptocurrency could be in the future, as well as how much its users could benefit from it.

Great Team

As mentioned before, TRON was founded by Justin Sun, one of the most talented young people who got listed in the Forbes ‘30 Under 30’ section. Continue Reading

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5 reasons why you should use a brokerage exchange service to buy and convert cryptocurrencies

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It is considered that the best place to buy cryptocurrencies exchanges. But this is a mistake. Let’s think about why we don’t buy fiat currencies on stock and currency exchanges or on the interbank market. Because it takes a lot of time, you need to have quite large amounts, and trading licenses are also a problem.

The situation is similar in the cryptocurrency market. Exchanges require a lengthy KYC verification process. the process of withdrawing funds through a merchant can take up to 5 banking days. It should also be remembered that before withdrawing funds, you must conduct trading operations. 

What are the advantages of the brokerage service 365Cash.co?

You don’t need to go through a lengthy KYC verification process. This is a crucial aspect for those who worry about their anonymity. 

Low limits and fast execution of the exchange order. If you need a small amount quickly – 365Cash.co is the best choice.

The ability to use payment systems like Perfect Money, Payeer, AdvCash to buy cryptocurrencies at the market rate. Exchanges do not provide this opportunity.

Low commission. We do not charge customers a fixed fee for the exchange. We work at the market rate and are completely dependent on the spread.

Quick…

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