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Ripple’s XRP: You should expect the big bull to visit shortly
The last couple of weeks have not been exactly great for the cryptocurrency market. Bitcoin alone lost more than a thousand dollars in value, so the outlook looks bearish. But things are happening that can bring up the market again, and Ripple is involved in them.
Ripple has secured two new partnerships with new financial institutions that will adopt their xRapid platform and the XRP digital currency to do international transactions. This is going to increase Rippel’s XRP demand for sure and improve its performance even as the rest of the market is slow.
Currencies Direct is the first new partner. It is based in the United Kingdom, and it does currency exchange which is right up Rippel’s alley. They just did a full test using xRapid to transfer money over international borders, and it worked fine for them.
Several other financial institutions are testing Ripple’s blockchain technology, and 75 of the world’s biggest banks are already using it for business on a daily basis. The tests have been nothing short of spectacular, like the one done a few weeks ago at the Consensus 2018 conference.
Ripple saves the bank (and the bank’s client) from 40 to 70% in transaction costs and fees but, most importantly, it saves them incredible amounts of time. Every Ripple transaction takes about two minutes to complete (while the traditional way, using the SWIFT system usually takes from two to four days).
Mr. Brian Harris, Chief Product Officer at Currencies Direct, expressed himself this way about the tests:
https://twitter.com/XRPTrump/status/1001444156516974592
He then added,
https://twitter.com/XRPTrump/status/1001445341298737152
The Kuwait Finance House (KFH) also joined the Ripplenet last week; they are the first bank in the country to adopt Ripplenet. And they seem to be just as happy to have joined Ripple.
KFH hailed Ripple as the future in international money transfers that make things quickly and, above all it makes Humanitarian work easier and more plausible.
So these two crucial banks are going for Ripple, and this is enough to think that both the Ripple’s coin and the project will be doing well. If you are still not convinced that a massive Ripple XRP bull run might be on its way, let me share another great news with you.
The long-awaited SBI Virtual Currency, a Japan-based exchange, has put Ripple (XRP) onto their website, only Ripple (XRP). Of course, the trading platform will more likely add other cryptocurrencies soon too, but no other cryptos are mentioned as of now. That is a definite hint of their intentions to make Ripple (XRP) the primary cryptocurrency exchange will list.
Ripple’s capabilities persuaded Matthew Mellon (may he rest in peace) to invest two million dollars in the currency and the technology. His investment is now worth a billion, so he saw the writing and the wall, and he did the right thing. Maybe you should as well.
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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 James Frid via Pexels.com
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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