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Ripple’s XRP might conquer the cryptoverse in the third quarter of the year

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Ripple XRP

As far as I can remember, this year has been a roller coaster for the crypto market. The prices of the major cryptos have been going up and down the entire time, and this is a worrying situation for many of the crypto investors and enthusiasts that don’t know exactly what to expect from the many existing tokens regarding price behavior.

In this sense, the third quarter of the year may be the perfect occasion for some of the virtual coins to rise to the top and set a new mark in their history, and that is exactly what we know for a fact that it might happen with Ripple (XRP). Stay with me here and let’s discover the main reasons behind the asseveration.

The XRP struggle this year

Despite the market volatility, the XRP token has been dealing with some other problems that have put some friction to its development. Concerning this, it’s imperative to mention the ‘security’ issues that the company has faced in the last months. Ripple has been under review by the Securities and Exchange Commission (SEC) considering the way the XRP token was set; there were big chances that the token could be labeled as security.

Although this has brought a lot of concern for both the community and the company, we need to remember that is not actually a verdict, instead, it can be just a caution in order for the company to change what it needed to be changed, and that’s exactly what Ripple has been doing ever since.

Let’s recall that Ethereum itself was labeled as a security by the SEC at some point and that is not precisely the case right now, so we all can rest calm as Ripple is taking care of the situation.

Concerning the decentralization issues that allegedly Ripple has, the Chief Technology Officer of the company, David Schwartz, has declared that the XRP ledger is as decentralized as Bitcoin and Ethereum if not more.

In fact, mathematically speaking it was proved that Bitcoin is mainly controlled by Bitmain and the early adopters of Ethereum mine both Ethereum and Bitcoin, so, to say the least, Ethereum is more centralized than XRP is.

The PoW system that runs on both the Ethereum and Bitcoin platforms was exalted despite the technical failures described by the CTO, and the truth is that miners can control the system. On the other hand, the speedy network of Ripple is considered by Weiss Ratings as “the fastest digital asset to transfer funds between exchanges,” and if we consider the low price of the crypto, this would be a tremendous opportunity to reach XRP.

So it is true, Ripple was warned that their coin was set as a security, but with all of the efforts that the company has put to change this, may have given results already.

September could be the month of XRP

It results evident that Ripple was quiet for a lot of time, but as the CEO himself, Brad Garlinghouse has stated, a lot of things will happen in September for Ripple. In his words,

“One of the things I will tease for a future announcement within the Q3 market report, which we always share… Where we see institutional participation in buying XRP, Q3 will definitely be a record of institutional participation in buying and showing interest in holding XRP.”

As it seems, we can all expect a significant wave of institutional investors appearing in the third quarter. In fact, the last thing we knew about a massive adoption of the XRP token was when Garlinhouse said that he wouldn’t say anything further until Ripple would manage to make more than 200 partnerships, and we can be sure that this is precisely the time. XRP has now more than 200 connections, but they cannot reveal their names because of non-disclosure agreements.

In addition to this, it was known that the XRP token had increased its volume in a significant manner. However, this hasn’t been showing up in its price the way it should, and the reason why those who buy the token are not creating an impact in the price is just that, they don’t use a regular exchange, so instead, what they use is OTC. This fact may actually change as it is speculated that Binance and XRP are collaborating already, and the crypto will appear listed very soon.

Conclusion

As August reaches to an end, September might bring great things for XRP and the market. Let’s all stay tuned, and Ripple as a company will surprise us all with new development, partnerships, and a brand-new behavior of its token, XRP.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Scott Webb on Unsplash

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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