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Ripple Q2 headway, XRP had the best quarter in history despite prices slump

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Ripple XRP

The official XRP markets report of the second quarter of the year has just been released by Ripple Labs, a document that gives us a clearer definition of all of the developments and moves that took place over the last 3 months of the year with the XRP token. Like this, a broader view appears in the scene at an institutional level, and investors by their part can have a bigger understanding of the XRP landscape, what has been going on, and what’s most likely to occur in the coming days.

Similarly, one of the most important facts of the document is that shows the slump in the prices that the XRP token has been facing lately, is in fact, something that is more related to the conditions of a young and immature market, than with a relation to inefficiencies with the token and the strategies it has been deploying.

As it seems, the second quarter of the year was actually the best, historically speaking, when it comes to the number of users that signed in to Ripple. Let’s see the main reasoning behind this, and the fundamental facts of the report.

Numbers on the report

One of the most interesting facts explained in the report is that Ripple recently sold $73 million of XRP tokens which represent an account of 0.125% of the total transaction volume of XRP. The same way, 3 billion out the 55 placed in escrow was released in Q2, and 2.7 billion bounced back to the escrow.

Let’s recall that Ripple uses an escrow that parallelly depends on other independent escrows that release the amount of 1 billion XRP monthly. The way it functions responds to the target of constructing greater limits of new XRP put into circulation for users to interact with. Regarding this, Ripple has stated:

“The amount of XRP actually released into circulation will likely be much less than this. Any additional XRP leftover each month will be placed into a new escrow to release in the first month in which no escrow currently releases.”

Ripple’s ecosystem

Ripple has been working on the development of their very own ecosystem, and this is something that was supported by the remaining 300 million XRP in the second quarter. Consequently, the company announced back in May the launch of a financing program called Xpring with which the blockchain firm aims to help with the construction of the ecosystem and at the same time, the development of new uses for the XRP token.

That said, we also need to keep in mind that with the launch of Xpring, another masterpiece that enters the landscape is Coil, with a partnership that seeks to make usage of the XRP token along with ILP (Interledger Protocol) in order to allow support to digital content by utilizing micropayments.

Conclusion

At the moment of writing the price of the XRP token is priced at $0.460582, a value that actually has been oscillating between $0.40 and $0.50 during the last couple of months. This mainly responds to the immaturity of the market and the volatility that characterizes it, but in terms of signs and users Ripple actually closed the past quarter with one of the brightest results ever. Regarding this the company has stated:

“The tight correlation is indicative of a market that is still in its infancy. Traders have yet to distinguish among the intrinsic values of the best known digital assets. As the industry matures and decides what it deems most useful and valuable, we should expect to see more separation.”

To sum up, despite the results it seems like the market, and more specifically the XRP token, has been growing up and transforming into a valuable digital asset, so it’s just a matter of time while the conditions tend to be positive again.

In fact, every day, it results more notable how “financial institutions are beginning to build crypto divisions and establish technological solutions to take advantage of the opportunity at hand.” A fact that gives us a positive sentiment of what can happen with Ripple (XRP) next. So stay tuned. Great things are coming.

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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 Maxpixel.net

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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