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Ripple xRapid might push XRP price up now. But what about the long-term?

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Ripple XRP

It’s a great time for Ripple’s XRP holders. Recently, the token’s price doubled in fewer than four days, and much good news has bolstered the project’s and the token’s value. The main among that great news was the release of xRapid, a new platform that runs on Ripple’s blockchain, used XRP token, and is ready to go into production boasting already three crucial partners in the world’s banking system.

But does this prove that Ripple’s business model and long-term economics are robust enough to go for it, once and for all? That remains to be seen. In the meantime, XRP is expected to perform well in the short-term, and its recent achievements more likely will keep the price going up for some time, even among the current (and very protracted) bearish run.

As thing stand today, Ripple is giving Ethereum a run for its money by seriously competing for the second position in the cryptosphere. It’s not only getting closer, but it’s also held the second spot, briefly, twice over the last weeks.

Ripple is a very interesting project. It’s also controversial, so it’s often in the community’s news, but this year has seen more news about Ripple than any other, and the last few weeks have seen more news about it than the most of the year. What does that mean? Publicity has not been a problem for Ripple recently. Simple.

Some of Ripple’s publicity follows the company’s marketing campaign which has been very adept and could even rival Justin Sun’s amazing moves when he promotes Tron. Just think about the recent Swell conference (which is Ripple’s yearly reunion for partners and investors).

The keynote conference was given by former president Bill Clinton, who said basically nothing about cryptography, the blockchain or cryptocurrencies, but it was a master publicity stroke anyway.

Then, Brad Garlinghouse (Ripple’s CEO) announced the release of xRapid and the three first customers that are already confirmed to adopt it: MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union. Yes, these are not huge players in the financial world, but they have confirmed they will use xRapid to settle their international business. Ideal debut for the newcomer, xRapid.

All about Ripple xRapid

What is xRapid, I hear you ask? It’s Ripple’s newest platform to settle international payments, but with an extra. This is a solution that not only uses Ripple’s blockchain to settle accounts but also uses Ripple’s XRP currency as a mediating coin to pay those payments in any fiat (or crypto) currency in the world.

That is the point. The previous solutions designed and deployed by Ripple do the same trick but without using XRP, or, at least, not necessarily. It means that xRapid is going to boost the market demand for XRP because, unlike most other digital assets, it will become a useful token, much more similar to real money instead of having its value based in speculative pressure alone.

The arrival of xRapid, and other of Ripple’s projects, as well as Stellar’s and Litecoin’s efforts to bring cryptocurrencies and blockchain technology into the traditional financial system, mean that Satoshi’s dream is coming to life slowly but surely: cryptocurrencies are gradually taking over banks, fiat currencies, and the world’s financial system.

Ripple is collecting one success after another, and the price of the token is rising (yes not in green at the moment, but that’s because of current market trend). We cannot say that about many other blockchain projects that have disappeared or failed even after very successful ICOs. But is this enough to trust Ripple and XRP long-term?

As things stand, for the short-run, it’s just a matter of slight trend change in the market and XRP might rise. For the long run, yes, everything looks to be in place nicely, but only time will tell. That is the cryptocurrency market for you.

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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 Andreas160578/Pixabay

Currency Market

Smart MFG Tech Announces its First Liquidity Mining Rewards Program on LINKSWAP

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Manufacturing Industry 4.0 company Smart MFG Tech has announced that it is launching its MFG Liquidity Mining Rewards on LINKSWAP today.  LINKSWAP is a decentralized, community-governed Decentralized Exchange (DEX) and an AMM platform, which was created by YF Link (YFL). The team at YF Link says it aims to address “the pain points of second-generation AMMs” by offering such features as Reduced Impermanent Loss, RugLock, SlipLock that are not offered by other platforms.

Smart MFG Tech has said that the first integration of the MFG liquidity mining rewards will use the LINKSWAP LP (Liquidity Provider) Rewards service. It will allow LPs to deposit their LP token(s) (UNI-V2) to the participating rewards pool (ETH|MFG) and earn MFG rewards seamlessly.  Smart MFG said it will continue to work with the YF Link team to provide support for other pairs and expand services.

LINKSWAP’s Rewards is a liquidity mining service that enables LPs to earn rewards for providing liquidity in a participating pool. YF Link has implemented a custom frontend solution for Smart MFG LP rewards pool on LINKSWAP.  This will allow LPs to add liquidity to Smart MFG’s existing ETH|MFG pool on UniSwap v2 and deposit their LP token(s) (UNI-V2) to their LINKSWAP rewards pool (ETH|MFG).

Smart MFG explained how the rewards can be earned:

“LPs get a share of the transaction fees on Uniswap v2. This is calculated by how much liquidity is provided relative to the percentage…

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Currency Market

Building Your Nest Egg Brick By Brick: Are Micro-Investments Here to Stay?

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No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?

That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate. 

Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day. 

However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:

With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:

What is Micro-Investing

Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…

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Currency Market

Decentralized Insurance Platform Bridge Mutual to Launch BMI Token on Polkastarter

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Bridge Mutual, a decentralized platform that allows users to insure stablecoins, has announced that its native BMI token will be launched on Polkastarter tomorrow, January 30.  The Polkadot’s decentralized exchange will host an Initial DEX Offering (IDO) for Bridge Mutual.  

“Even the most sophisticated digital asset investors are at risk of losing their funds through various malicious and negligent activities in the blockchain ecosystem. With Bridge Mutual, we believe it doesn’t have to be this way. Using Bridge, people can control the risk exposure of their digital asset investments, just as they do with real-world assets. The Bridge Mutual platform allows people to offer and purchase coverage in a decentralized p2p way. We’re excited kickstart the launch of the BMI ecosystem with a launch on Polkastarter and creating a better way of protecting digital assets for users all over the globe,” Bridge Mutual CEO Mike Miglio said in a statement. 

Bridge Mutual allows users to buy and sell insurance for smart contracts, stablecoins and crypto exchanges, peer-to-peer. Users can purchase insurance via the Bridge Mutual app and then file a claim if their digital assets are lost after a hack. “When users lock stablecoins in Bridge Mutual’s coverage pools, those funds are reinvested into popular (and safe) yield generating platforms that return yields to coverage providers. When a claim is approved, stablecoins from the coverage pool goes…

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