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Ripple (XRP) – A must-have coin or the complete opposite?

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Ripple XRP

Without any doubt Ripple (XRP) is a virtual coin with one of the most solid behaviors in the market, being currently ranked as the number 3 in the cryptocurrency listings, but is it really worthy of that much attention? This is for sure a question we should all ask ourselves once we decide to invest in a token. Beyond positive sentiments, there are regularly specific facts that may help us choose the right cryptocurrency to put our bets on.

In this matter, the token of Ripple has always triggered a considerable controversy regarding if whether or not should the coin be considered a good option to take.

A large part of the community believes there certainly are reasons to believe so, but on the other hand, we have as well experts making negative comments about the coin. So what should we believe in? Here I present the main pros of and cons of acquiring Ripple (XRP).

Pros of the token

  • Position in the marketplace

At the moment of writing, the current position of Ripple (XRP) in the market is the number 3, with a total market cap of $24,092,424,875 and a volume in the last 24 hours of $428,931,000.

Similarly, despite the bearish behavior of the coins in the previous week the coin has started to take off again, even managing to increase 1.44 percent in the last 24 hours.

Even when the position of a coin is not a sine qua non-indicator that the token is actually valuable, Ripple (XRP) has proven with the time that is determined to get to the top of the lists.

The crypto is currently the number 3, right after Ethereum (ETH) and Bitcoin (BTC), but not so long ago it was the number 6 on the rankings, which proves how well the coin is conducting through the list.

  • Partnerships and adoption strategies

One of the most applauded strategies of Ripple is its partnering activities. At the moment the company has managed to engage with at least a 100 bank entities around the globe, offering its platform as a solution for decreasing costs and reducing the time it takes to deploy an operation.

Ripple (XRP) is the first crypto to accomplish a relation with several banks at the same time, and even when the affiliation is not through the XRP token, just the mere interaction with a solution created and implemented by the creators of the coin gives the crypto an actual chance of a massive adoption in the short term, and of course a boost in their prices.

  • Stability of the platform

Ripple possesses one of the most stable platforms of the cryptosphere; it has proven to be a network free of cataclysms and is integrated with innovative techs that make operations much easier and practical.

Also, the token has a very affordable (I’d rather say low enough to buy in bulk) price maintaining a value under the dollar, a fact that gives the opportunity to both users and companies of acquiring the token at a very fair price rate.

Cons of the token

  • Remarkable adoption of xCurrent

As I noted before, Ripple has managed to make several partnerships around the world, even accomplishing 100 successful alliances with different bank entities. However, these alliances have not been realized through the product containing the XRP token, or xRapid; instead, they have actually consolidated almost all of their partnerships by using xCurrent.

Although it is highly expected somehow the company manages to redirect these alliances through xRapid, there’s no any warranty that this is going to happen.

  • Possible regulations

It has become a popular rumor among the community that the Securities and Exchange Commission (SEC) of the United States has its sights on Ripple (XRP), and actually might declare the coin as a security, the fact on which is attributed the latest decreasing interest for investors in the coin.

  • Control of the company over the token

Ripple Labs has outstanding (or I’d better say annoying) control over the XRP token; in fact, the company owns around a 60% of the total XRP coins in the market which, of course, gives it great power over the currency and its behavior.

Conclusion

There are both good and bad indicators on the token, but if we take a close look at the negative comments, they somehow tend to imply the XRP might not continue its growth in the marketplace.

However, the current position of the coin is remarkable, and even when other coins may surpass it in the future, still investing in Ripple’s XRP looks definitely like a good option to take. Again, the crypto stands at number three position among the long list of more than 1600 cryptocurrencies at the moment; there must be some good reasons behind that, right?

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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