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Is an alliance between Ripple and Stellar (XLM) in the works?

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Ripple Stellar
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Neutral observers in the cryptosphere have been writing over the last few weeks a lot about Ripple and its native token XRP. It’s one of the very few digital assets that have been somewhat stable in price over the last couple of weeks. Following the current market trend, it’s trading in the red by friction (down by 1.27% over the previous 24 hours) as the cryptocurrency stands at $0.492593 at the time we write this.

It also happens that Ripple keeps announcing new strategic partnerships and new use cases that it had previously not cultivated very much. New banks and remittance services all over the world are adopting Ripple’s platforms and currency to settle payments internally, and more and more businesses are adopting it as a means of payment. On top of all that, XRP’s market capitalization has been growing steadily (it’s now at $17,632,270,393), so it has punched Ethereum out of the second place already.

When you put all of that together, it would seem that XRP is ready to be the first digital asset that will break out of the current (and prolonged) bearish run and that it will happen soon. The technical market analysis seems to support this idea, but we won’t go into all the details in this article.

The alleged Ripple Stellar partnership

So, a funny (and unexpected) thing happened, not too long ago. Jed McCaleb’s XRP wallet received 40 million XRP tokens, and nobody knows who sent him or why. The transaction could seem irrelevant, but there’s a reason for the cryptoverse to pay attention to it.

Jed McCaleb is Ripple’s founder, but he left a few years ago to create a new blockchain project called Stellar Lumens (XLM). That’s where he works now, and Stellar is considered to be Ripple’s main and most direct competitor in the crypto space because they are trying to gain adoption in many of the same markets, mainly in the financial sector.

So rumors are spreading. Was Ripple behind that almost 20 million dollar payment to its former boss? Or are Ripple and Stellar Lumens trying to come out with a strategic alliance?

Alliances between rivals are not unheard of in the business world. True, they tend to fail miserably, but when they work, they’re unbeatable. Perhaps the most famous example of such a partnership was the one between Bill Gates and Steve Jobs, who were famous back then for hating each other’s guts passionately.

They both ignored their personal problems, and Bill Gates bailed Apple out of very serious financial problems while making sure that Microsoft would remain the most important software company for Apple computers, as well as Windows. It worked. Apple would have probably disappeared without Microsoft’s help at that critical juncture.

Is this what is happening now for Ripple and Stellar Lumens? Short of an official joint announcement from both institutions, it’s just impossible to know. Stellar Lumens already has a strategic partnership with IBM while Ripple has remained mainly independent.

An alliance would allow both projects to access new markets that have remained closed so far; it would give them political clout, lower costs, share their technology and make things easier for all their partners. So it could be very tantalizing because everybody involved would have something to win. But are they going for it?

All we can say for now is that a few interesting signs are appearing that would seem to suggest it could happen; maybe it’s already in the works. But to find out, you’ll have to keep coming to our website and keep reading our news.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

Altcoins

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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Altcoins

Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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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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