Connect with us

Currency Market

Ripple is still up by 8000% since inception, hitting 56000% during its highs

Published

on

Ripple

In the world of virtual currencies, Ripple (XRP) can now be considered as the most valuable digital asset after Bitcoin (yes Ethereum still at the number two but its position seems to be in severe danger). At the start of 2018, its market cap hit more than 100 billion US dollars.

After a tight bear hug for a while, over the last few weeks, Ripple’s XRP prices have blown out by almost 300% showing no signs of slowing down (except today, it’s down a bit alongside whole cryptocurrency market).

Due to its working relationship and partnership with large institutions in the financial sector, Ripple has managed to blow past other cryptocurrencies rivaling its progress in the digital currency space. Ripple as a cryptocurrency (XRP) and as a blockchain technology has an aura of legitimacy attributed to its working relationship with large organizations and businesses around the world.

Ripple’s Consistent Growth

When you look at the number of companies, and financial institutions Ripple has managed to onboard to use its protocol, you will notice that the client portfolio is consistently rising. And with the rise in its client portfolio and its popularity, you will agree that the use of Ripple is continually on the rise as well. The constant surge of Ripple’s blockchain and use is one of the main reasons why the virtual currency has the potential to increase significantly in 2019.

Ripple XRP price history chart

Ripple chart showing XRP prices from its beginning to today. | Source: Twitter

According to Ripple CEO and leader, Brad Garlinghouse, Ripple’s real application in the cryptocurrency space and blockchain technology positions the company on a vantage point. Trying to create a platform of globalized payment systems, Ripple is working round the clock to ensure financial institutions and businesses can transfer settlements globally at near instant speeds.

Currently, Ripple has signed partnership agreements with over 500 different institutions that include prestigious financial institutions like Saudi Central Bank, Banco Santander, and Bank of England. According to Brad, since there is a real application of Ripple as a currency and as a blockchain technology, Ripple will be able to sustain in the longer term. Garlinghouse says,

“Ripple will not be a victim of the ongoing cryptocurrency craze thanks to its real application, the price valuation of the digital asset will sustain”

Ripple: The Second Most Significant Virtual Currency After Bitcoin

Most of the cryptocurrency analysts agree that Ripple will not only be able to record new highs and create new peaks, but it is also a good investment opportunity. There is room for improvement in the crypto space with the current market capitalization being as it is.

Staying true to its mission, Ripple is consistently onboarding marquee name clients from every part of the world to its already bulge client portfolio. Additionally, many banks and financial institutions are using Ripple’s technology to transfer money from one part of the world to another.

That is why we are all in agreement that Ripple’s XRP is a pretty undervalued currency currently and in the coming future, we expect Ripple to increase its market capitalization and value greatly as it continues to add newer and newer clients to its platform.

XRP to Act as Collateral in Nexo, Crypto Loan Platform

Last week, virtual currency loan provider, Nexo, announced its decision to add XRP as its latest collateral option for the platform’s quick crypto loans. Nexo users with XRP balances will now be able to take loans against their digital assets instantaneously.

Nexo is renowned globally, providing its services to its clients in over 40 fiat currencies pushing the boundaries within the cryptocurrency lending sphere by becoming the first lending company to accept XRP as collateral.

Instant Transfer Crypto Exchange, Changelly Adds support for XRP

Also, just recently, Changelly, an instant-settlement crypto exchange, made it public their decision to open their doors to exchange fiat currencies for XRP coins on the company’s platform. Through their marketing department, Changelly said that they allow their users to purchase selected virtual currencies with credit and debit cards. This is to mean, Changelly users can now buy Ripple’s XRP tokens in a matter of a few minutes with a couple of clicks.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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 PublicDomainPictures/Pixabay

Currency Market

12 Peers Capital Markets Purchases DigitalBits XDB Token

Published

on

12 Peers Capital Markets , a broker-dealer and capital markets firm has announced its support for DigitalBits, a blockchain protocol focused on consumer digital assets such as loyalty points, rewards, and branded stablecoins.  The traditional market brokerage firm has purchased the DigitalBits XDB token, after recently announcing “a new found investment thesis focused on identifying blockchain projects that improve efficiencies across global markets,” it said in today’s announcement.

DigitalBits is an enterprise-grade blockchain protocol for supporting consumer digital assets, specifically branded currencies.  The company believes that branded currencies play an integral role in driving consumer behavior, but many of these programs are dated by today’s technological standards.  “These limitations have stifled value transfer, resulting in the accumulation of large amounts of idle capital – in 2017 US corporations held in excess of $100 billion in unused points liability,” the DigitalBits experts explain.  

The DigitalBits blockchain supports tokenization of existing and new consumer digital assets.  The XDB Foundation, which was formed earlier this year, is a neutral agnostic non-profit organization to enhance the DigitalBits blockchain and ecosystem, engage partnerships and building a robust ecosystem for users. Commenting on the 12 Peers Capital Market announcement, XDB Foundation’s Managing Director Michael Gord said that it is great to see traditional firms show interest in blockchain technology. …

Continue Reading

Currency Market

AllianceBlock Completes TGE, Lists ALBT Token on Uniswap

Published

on

Big day for the Dutch-based AllianceBlock project today. After more than two years in development, the stealth mode is finally off.  AllianceBlock announced its completion of the Token Generation Event (TGE) . The newly generated AllianceBlock token (ALBT) was also instantly available on Uniswap – an automated liquidity protocol that has been gaining traction recently. Unlike centralized and most decentralized exchanges that match buy and sell orders to determine prices and execute trades, Uniswap uses a simple math equation and token pools, plus ETH to execute trades.

AllianceBlock Uniswap
 

Just weeks ago AllianceBlock reported wrapping up its private sale, which was 1,200% oversubscribed and helped raise $0.5 million. The next step for AllianceBlock is coding the platform and expanding the ecosystem.  The team is gearing up for the mainnet launch, which is set for the second quarter of 2021. The AllianceBlock platform is based on the Prometheus Protocol, which is a multi-layered architecture designed to solve some of the biggest problems of the traditional finance (TradFi) industry while funneling potentially trillions of dollars of traditional capital into the DeFi industry, the company says.

AllianceBlock is raising the bar high – it is building a “globally compliant decentralized capital market” by utilizing a blend of several decentralized technologies. To help bridge traditional markets and DeFi, the company is focusing on three cornerstone issues — compliance, security, and user experience, which are…

Continue Reading

Currency Market

Could The Rise of Yearn Finance Harm the Long Term Viability of Bitcoin?

Published

on

Cryptocurrency

Even in the highly unpredictable world of crypto, 2020 has made for an exceptionally volatile year so far. 

The summer months have been punctuated the unprecedented rise of the decentralized finance (DeFi) movement followed by heavy falls across the cryptocurrency landscape. 

The jewel in the crown of DeFi, yearn.finance, was catapulted to values upwards of $38,300, and a market cap of over $1.1 billion just months after its launch. Backed by advanced and practical DeFi applications like smart contracts and blockchain-based insurance, DeFi tokens like YFI are supported by exciting and tangible technology.

Given their advanced frameworks, could this mean that the DeFi boom for yEarn and its counterparts will harm the long term viability of more speculative traditional cryptocurrencies like Bitcoin? Or could the world’s oldest and most famous cryptocurrency push back against the brave new world of decentralized finance?

Why Yearn.Finance is Different

YFI is certainly a cryptocurrency with a difference. Writing for Forbes, Joseph Young has attributed the rise of Yearn.Finance to four major components: a unique supply, an active community, a respected developer, and innovative products. 

Significantly, yearn.finance developer, Andrew Cronje, rebranded and relaunched yearn.finance with a suite of new and cutting-edge products. He also released YFI with no premine, a significantly limited supply of just 30,000 tokens, and no founder reward. 

These factors made the…

Continue Reading

Press Release