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Ripple’s XRP surges big time (18%) before its FoLex listing next week

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Ripple XRP
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Ripple has been securing xRapid partners almost every single week, as well as its native token, XRP keeps hitting major cryptocurrency exchanges. The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.

You’ve probably never heard about Folex. There’s a good reason for that; it’s not online yet. As we write this, you can see a countdown on their site (folex.io) that is reporting that it will come online in ten days, eight hours and peanuts. So why are we giving them attention?

Because we think it could be a good thing, as they do. Actually, in that same website, you’ll see their current lemma: “A great thing is coming.” If you ask us, that’s a better pitch than “Winter is coming” and, still, everybody is waiting for Game of Throne’s next season.

So what is Folex? Or, instead, what is it going to be?

It will be an exchange founded by thirteen (lucky number if there ever was one) cryptocurrency enthusiasts who have extensive experience in the field. They understand cryptocurrency very well in a way that can only benefit their prospective customer’s needs because they know what they need.

Folex’s staff believes that a trader has the right (and need) to have many assets available for trading, which is why they are committed to providing as many trading pairs as possible, according to the customer’s use and feedback. And Ripple’s XRP has been picked by them precisely on that matric.

This is an exchange designed to work along with blockchain projects directly (owners and communities) so that the exchange’s interface will be simple and easy to use for both experienced crypto enthusiasts and newcomers. They put a lot of emphasis on data protection and security for the customer’s personal data.

The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.

There are reasons for that. Ripple never meant for XRP to be a retail currency that could be traded in exchanges among end users and enthusiasts. It wanted its native token to be a mediating currency used by banks and financial institutions so that international payments could be settled quickly, safely and cheaply through Ripple’s network and platforms.

It’s not yet clear what pairs will be offered against the XRP token or if it will be a base currency at all. Other currencies that will be included at the new exchange include Stratis, Cardano, Monero, Tron, NEM, Steem, Stelar Lumens’ XLM and many others.

Folex is based in Georgia perhaps because the country is more friendly to cryptocurrency enterprises than most others in Europe. It allows for good service and customer anonymity at the same time.

They will use Bitcoin as a base currency at the start, which is more or less the rule for most cryptocurrency exchanges in the world. But who knows? Some other, more established exchanges, have adopted XRP as a base coin recently so Folex could make that choice sooner rather than later.

More coins are being announced as the launch time approaches, according to a countdown a the company’s website. It’s hard to predict which could be the next one as the selection of tokens currently announced is already quite extensive.

We wish Folex all the luck in the world. Good quality exchanges are always welcome into the world’s crypto community.

Consequently, on the back of recent Ripple xRapid partnerships and current as well as upcoming XRP listings news, the cryptocurrency has managed to surge 18% within the last 24 hours. Even though Ethereum is in green today too, but XRP has surprised its competitor for 2nd spot as the cryptocurrency has grabbed the position again as I write this. The blockchain firm seems to be doing everything right at the moment.

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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.

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Bitcoin

Why Blockchain Projects Keep Failing

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If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

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Altcoins

STEEMIT Running Out Of STEAM?

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Steemit
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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…

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Altcoins

The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

Who hasn’t been scammed at least once?

The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…

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