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Ripple horizons expand as XRP gets listed on Swiss-based exchange Lykke

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5 years ago

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Ripple XRP

On October 30th (just a couple of days ago), Lykke announced two listing pairs BTC and USD for Ripple (XRP). The exchange said their decision to add XRP is based on the fact that it’s one among the most requested and traded coins.

Lykke is a crypto exchange and blockchain project that aims to offer a platform which anybody in the world can use to exchange virtual currencies without needing to pay any fees. It emphasizes user-friendliness.

While this is not a platform that is very often on the limelight (which is not a bad thing when you consider how often that happens because of scandals) it’s still one of the most respected in the world and, reviews about it are usually very favorable and is generally considered to be trustworthy.

This new entry to the relatively long list of XRP exchanges uses a distributed ledger technology, based on Bitcoin’s blockchain. Or, at least, that how it started. Nowadays it’s also using Ethereum’s blockchain. You can access Lykke’s services very easily because even a mobile phone can do the trick. All you need to get started is to download and install a wallet. Execution of operations is guaranteed, settlements are instantaneous.

Lykke has offices in three different countries in the world: Switzerland, England, and Vanuatu.

The exchange even issues its very own cryptocurrency called LKK. The coin is backed up by the company’s value as every token is worth 1/100 share in the company (yeah, this means this coin is a security which has been a controversial issue for the cryptosphere in the recent months). Unlike Ripple’s XRP, the LKK coin is maybe not a star in the crypto sky, but the exchange is, indeed, among the most respected ones in the world.

Lykke’s services are available the world over, except in the USA, Australia, Canada, and Japan.

So, just a couple of days ago, the company announced that Ripple’s XRP currency is available on the platform. This is different from other XRP offerings because investors interested in Ripple’s coin will be able to buy XRP directly instead of trading it for Bitcoins or ETH wich, so far has been the rule in most exchanges in the world.

Ripple and XRP are not the same things. Ripple is a private company that produces blockchain technology aimed at settling international payments with the least possible amount of friction. XRP is the cryptocurrency created by Ripple to achieve that goal. This is an important distinction because, in the cryptoverse, you’ll often find that the coin is referred to as “Ripple” when it should be “XRP,” and this causes confusion.

Coming back to the point, this is an essential step for both Lykke and XRP. Lykke will be able to capitalize the interest that XRP has been gathering recently (one of the very few coins that have been rising in price over the last month).

Ripple, on the other hand, will be able to expand its horizons. XRP was never meant to be a retail coin for enthusiasts (like Bitcoin, or most other assets are) but a cryptocurrency that banks could use to do their job. That game is changing as Lykke, and other exchanges are turning it into a cryptocurrency you can buy directly, without using Bitcoins first, and that you can hold.

Ripple’s XRP has been growing steadily in value, and it’s now challenging Ethereum for the second place in the cryptocurrency capitalization market. They’ve been reporting amazing news recently. There’s even a plastic debit card based on XRP you can use in the street to pay for your cigarettes (ok, you don’t smoke… let’s call it beer).

Lykke is moving forward. And XRP is helping it along.

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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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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

Published

4 months ago

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December 29, 2023

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

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December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

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December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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