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Ripple to reach $334 per XRP in 3 years. Outrageous prediction?

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Ripple xrp 334 usd prediction

The cryptocurrency market has characterized as being anything but rational, a fact that sometimes makes us all, as users, a little disconcerted with movements in the prices a bit harsh to read. That is currently the panorama for many virtual coins in the market that apparently out of nowhere, just happen to hit the moon with their prices and we don’t even understand why.

Of course, most of the times this is spurred by a bunch of speculations that not in all the cases end up being right. But would it be real the forecast going around (watch the video I stumbled upon, right below) that Ripple (XRP) could hit the $334 mark in a timeframe of 3 years?

Well, even though it sounds crazy, there are a couple of reasons to believe this could be a fact. Let’s find out why many experts are assuring Ripple will hit the moon very soon, and the same way, what are the main arguments behind the asseveration!

The sector of the industry Ripple aims to tackle

The mission of Ripple is one very ambitious; the company seeks to resolve the main problems the banking system has not been able to after all this time.

The SWIFT system has proven to make the customer experience very poor, meaning long periods of times are necessary to make a transaction, and of course, high fees are charged per operation.

Ripple plans to solve all this by reducing at least in a 40% the inefficiencies of the 24 trillion dollar market, an action of which of course it will get retribution.

It is expected like this, that Ripple gets at least a 10% out the $24 trillion market once implemented its solutions, and another 10% just in fees. So we would be speaking of at least $4.8 trillion of income, a number that of course would shoot the coin to the moon and beyond.

Likewise, the $334 value prediction is more than justified. If Ripple were to be adopted by a notable number of bank entities then others financial institutions will succumb as well as they would not want to lose clients because of other entities offering a more efficient service.  And if a mass adoption would happen among banks, Ripple would be valued even above the $334 mark.

The possibilities of coin burning

Most of the people just assume that Ripple would never be inclined to burn coins, but as a matter of fact, Ripple is likely to deploy a coin burning in the long term.

We have already considered the fact that Ripple would possibly be adopted by a large number of bank entities around the world, if not the entire banking system.

Well, in a scenario like this the company would be inevitably directed to a massive coin burning and be considering a case like that the price of the coin could even get above 500 US dollars.

A massive adoption by exchange platforms

To conclude, right at the moment when Ripple starts to be adopted by bank entities it would become incredibly appealing for several exchange platforms across the globe. Meaning that it will gain an outstanding validation at large, and consequently, a remarkable place in the crypto sphere.

In the end, the prediction is not that outrageous after all. But something to keep in mind always is that investing in any cryptocurrency includes as well an inherent risk. So be sure you only invest what you would be willing to lose!

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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 Pxhere.com

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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