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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

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

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Aluna.Social
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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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CoinFlip
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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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