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Ripple Q1 Report 2018: How Well The XRP Performed?

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Keeping with the idea of providing transparency to the Ripple ecosystem globally, Ripple strives to share regular updates on the state of the market, quarterly sales, important notices, and reports on previous quarter market development. As the first quarter of 2018 comes to an end, Ripple’s team shared their report covering the shape of the digital coin in the market.

Indeed, this is essential as XRP society can keep up with how their preferred digital investment is doing. So, I decided to cover Ripple’s first quarter report 2018 for our GlobalCoinReport readers – here is the breakdown of what XRP achieved during the Q1 2018 as per the incredible team behind the coin.

Quarterly Sales

In the first quarter 2018, market investors managed to purchase $16.6 million worth of Ripples directly from XRP II, LLC., Ripple’s registered and licensed money service business.

The XRP II, LLC is registered and licensed by the New York State Department of Financial Services to engage in the Virtual Currency Business activity. Going by the sales achieved by Ripple in the first quarter, it is determined that the coin did very well in the digital market along with other currencies as analysts in 2017 predicted it.

In fact, the majority of cryptocurrencies’ performance in 2017 gave indications that 2018 would indeed be a year when digital assets will grow by heap and bounds going through waves of heightened trade volumes and of course, mass adoption.

The first quarter of 2018 has seen many cryptocurrencies weather a period of intense volatility with an all-time market cap high of $814 billion being recorded in January. The growth of cryptocurrency over the past year has been extraordinary, for instance, early January 2017 yielded a total cryptocurrency market capitalization of only $17 billion.

Ripple (XRP) in Comparison to the Digital Assets Market in Q1 2018

According to the official report, Ripple’s overall market capitalization reflected that of the total digital asset market, although at times it seemed like XRP exaggerated its numbers in comparison to the whole market.

During the transition of the last quarter of 2017 and the first week of January 2018, the cryptocurrencies continued with their pace of growth that saw a steady $603 billion of all digital assets’ total market cap grow to over $800 billion in market capitalization. A rise of over 200 billion USD in only one week, with XRP being a significant contributor of this enormous increase in the total market cap.

However, Ripple recorded a 73% drop as its price shifted from $1.91 in January 2018 and finished the quarter at $0.51. The market cap also dropped dramatically to $263 billion of all digital assets’ total market capitalization at the end of 2018’s first quarter. That means that the whole cryptocurrency market including XRP lost up to 56 percent of the total cap only in a single quarter.

However, contrary to the market loses, XRP had something to smile about as it had its highest trading volume in history with a total of $160 billion of notional-traded coins that got traded in just one quarter.

The Start of Q2 2018: Ripple (XRP) and the Market

Currently, XRP is at $0.84397 while it just recovered from a dip of about 2% along with other digital currencies like Dash, NEO, BTC, and Litecoin just today.

Also, XRP is up today by +5.75% jumping against the USD and trading in the green. Consequently, holders and traders have their hopes up and believe XRP will hit the $1 mark soon.

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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 Thomas Hawk via Flickr

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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