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Ripple (XRP) emerges as the base currency

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Ripple XRP
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A majority of digital coins and altcoins ended the month of July in overarching declines including Ripple (XRP). The XRP USD pair managed to cancel most of the gains accrued since early days of July.

As we usher in a new month, Ripple is still showing signs of free falling below the 0.45 US dollar mark after declining the support emphasized by the 23.6 percent Fib level with the last swing appreciate from lows of $0.424 and depreciate from highs of $0.5204 to settle at $0.4469 (it just jumped above 0.45 today after increasing in value by 4.5% in last 24 hours).

Moreover, Ripple (XRP) is exchanging within the limits of a falling wedge pattern signaling a price surge and breakout in the offing shortly.

Bitrue Exchange Lists Ripple XRP as a Base Currency

The crypto space continues to attract more investors and players in its jurisdiction with this week marking the official launch of Bitrue. Although unknown to many, Bitrue is a virtual currency exchange that has long-ambitions of becoming the most spontaneous and secure option for crypto-investors globally.

One attribute makes the Taiwanese exchange predominantly stand out from the pack. Bitrue announced their intention to list XRP, Ripple’s virtual currency, as a base coinage on its network. This move marks a huge adoption step for Ripple in the crypto market.

Bitrue intends to offer transparency to the Initial Coin Offering (ICO) market by availing a qualified selection of ICOs. Remarkably, Bitrue is also showing interests in partnering with Wanchain, an infrastructure platform that can connect with various digital assets.

According to the CEO of Bitrue, Curis Wang, the exchange can screen interested candidates listing only legal and promising digital coins and altcoins on their platform. By doing so, Bitrue will be able to create and develop a healthy environment for trading and for everyone interested in engaging the exchange.

DCEX Announces Ripple XRP as a Base Currency on its Platform

Meanwhile, DCEX was the very first virtual currency exchange that used Ripple (XRP) as its base currency. It recently opened registrations to start for its network. DCEX intends to begin trading in the coming weeks if not days, according to a press release that was issued on Monday.

DCEX plans to offer 15 digital tokens for trading with XRP as the base pair. The digital tokens include Litecoin (LTC), Bitcoin (BTC), Tron (TRX), Bitcoin Cash (BCH), and Ethereum (EOS) among other digital currencies.

According to an official release by DCEX webpage, the exchange intends to add more exchanging pairs in the coming week with USD/XRP trading might be supported for institutional or corporate clients.

xRapid Adoption in the Market

In recent time, xRapid has seen a somewhat positive response in regards to adoption. The way xRapid can complete international settlements within a short period is by using XRP as the bridge currency. For instance, in a KRW to USD transaction, KRW is converted to XRP using a Korean exchange via banking systems, transferred on the Ripple (XRP) ledger to an American exchange wallet then converted into USD in conclusion.

There are market speculations doing rounds suggesting SBI holding might use xRapid in conducting cross-border transactions. There is evidence that indicates that this merger is true and might be in completion stages.

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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 Maxpixel.net

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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