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Ripple institutional demand grows dramatically

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Ripple
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The XRP cryptocurrency developed by Ripple hit its bottom earlier this month at $0.47. But it’s been rebounding ever since then to the tune of 84 percent. This has had to do with several things. There’s been a market rally recently, but most importantly, it’s happened because financial institutions have been increasing their demand for XRP dramatically.

This is not a coincidence. Ripple’s idea for XRP was always to have a cryptocurrency that would be safe and useful for institutional transfers, instead of developing one that could be used for retail payments over the world wide web. And from the confidence banks and other institutions are showing for XRP, you’d have to think Ripple had the right idea all along.

Additional partnerships

The San Francisco based firm announced last Thursday that five new payment providers would adopt Ripple’s currency through their very own xVia platform. xVia is an API developed by Ripple; it allows users to make international payments quickly and easily. XRP is, in fact, the quickest cryptocurrency in the market because all the tokens are already available, and they don’t need a new calculation that renders them useful, unlike what happens with Bitcoin. It would seem that the Ripple’s new partners also see the advantage on this because they’re taking it up. The new users are FairFX (from the UK), RationalFX, Exchange 4 Free, Georgia’s UniPay and, MoneyMatch, a Malaysia-based company.

By using Ripple’s xVia API, these businesses will enable their clients and users to make international payments cheaply, efficiently, quickly and safely. It’s a way for people all over the world who are out of the financial systems to get access to the global payment arena.

While those five partnerships are the most recent, they’re not the only ones by any means. Ripple has got sixty-one Japanese banks as partners. They are developing together a mobile app that will settle domestic transactions instantly. Other partners announced earlier this year include Beetech, Zip Remit, Cambridge Global Payments, MercuryFX, MoneyGram and Western Union. Slowly but surely Ripple is making their cryptocurrency an essential tool in the world’s financial market.

The year did not start so promisingly for the firm as the first quarter saw them take some severe losses. But between January and March, they sold $167.77 million worth of XRP. This was an important eighty-four percent increase compared with Q4 and a dramatic 2400% surge in twelve months.

Ripple’s share in the cryptocurrency world has more than doubled from Nov 24, 2017, to March 31, 2018, as it went from 3.56% to 7.57%. Their volume also grew by almost seven percent, 6.9% to be exact.

According to Ripple, this growth was partially “driven by the extension of more than $16 million in new XRP loans from XRP II, LLC to market makers,” adding that,

“A significant pain point for digital asset liquidity providers is the need to purchase or borrow assets in order to provide both bids and offers.”

These recent events seem to strengthen XRP’s position as a viable option for liquidity pools as well as a means of transactions and investment assets.

XRP/USD Rates

XRP closed at $0.91 last Saturday which was a high point following a strong week. The currency’s total market is around $33.9 billion today, and total trade daily volumes are beyond the billion dollar mark, according to CoinMarketCap.

The primary trade market for XRP is South Korean exchange Bithumb as they trade more than 20% of the total volume. Another key player is Upbit, also from South Korea, who processes around 17% of transactions.

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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.

Image courtesy of J J via Flickr

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How Cryptocurrencies Will Change Online Gambling in the Future

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online gambling
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Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Bitcoin
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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

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