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

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Ripple XRP
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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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