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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…