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Stellar (XLM) and Ripple’s XRP no more the safe havens in the crypto storm

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The last couple of weeks have seen every single cryptocurrency lose a lot of value, starting with Bitcoin, and there is no end in sight. It’s been nothing short of carnage. But amidst this mayhem, two digital assets held fast. Granted, they lost value too. But their red numbers were written in single digits while every other token down by double digits. We’re talking about Stellar Lumen’s XLM and Ripple’s XRP.

Stellar Lumens (XLM)

It may seem a paradox, but you can make progress even in a market that is going down, and that’s what XLM has achieved. It briefly knocked Bitcoin Cash out of the 4th place by market capitalization. While it didn’t stay there definitely, this is a sign of things to come.

Bitcoin Cash’s hard fork created a hashing war, and it provided airdrops for community members. And yet, it’s gone down from $630 (before the fork) to around $160, currently. This is probably because many users that received coins from the airdrops are now squaring their Bitcoin Cash positions as the market is dominated by sellers.

As things stand, both EOS and Stellar Lumens have market capitalizations that are in the same zone as Bitcoin Cash. The difference between all three of them has been that XLM dropped at a much smaller rate. About two days ago you could have thought it would overtake them in the following days. This is exactly what happened between XRP and Ethereum, and now XRP is a solid second place by market capitalization.

But that’s not the case now. Stellar as gown down even more than EOS and Bitcoin Cash in the last 24 hours as it’s in red by 24%. In the current turmoil, XLM doesn’t really need to grow to be a safe haven. It just needs to keep dropping a lot more slowly than similar assets, which is precisely what’s been happening about 30 hours ago or so (but not now).

XRP

As we mentioned before, even in the recent mess, XRP managed a degree of success by becoming the world’s second-largest digital asset by market capitalization, overcoming the legendary Ethereum. It now outranks it by about four billion dollars, so it looks pretty safe in its new second place.

Then there’s the good news. TransferGo announced it would adopt Ripple’s xRapid platform to create a remittance corridor between Europe and India. This platform is fueled by XRP transfers, which creates demand and trade volume for the token.

Additionally, Ripple’s Asian partner, SBI, announced it would use Ripple’s technology to ensure security in credit card operations in Japan. And Mitsubishi also announced that it would use Ripple to settle payments between Japan and its Brazilian partners.

Ripple’s XRP has held fast because it’s proved to have myriad use cases in the traditional financial sector. Those banks who are using Ripple’s platforms and coin are settling international payments in minutes, at the cost of a fraction of a cent, thus giving their costumers better, safer, cheaper service. According to American Express, XRP is saving them around 70% of the costs involved in sending money overseas.

XRP has also managed to build a robust community that will go all the way to hell and back for the currency and the ideas it upholds. But even though it has been holding the grounds quite well, that case has changed now as the cryptocurrency is down by even more than Ethereum. XRP trades in red by 17.51% in the last 24 hours (ETH is down by 15.41%).

Good things happen even in bad markets, and they teach us a lesson. Let’s try and learn from the current bullish run: XLM and XRP are here to stay, and they’re very solid.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

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MobileGo (MGO) – An Internet Gaming Pioneer

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Although I love trading cryptocurrencies as much as anyone, I’m far more interested in analyzing the impact that blockchain technology can have on the business landscape.  After all, blockchain’s potential was the main catalyst behind the surge in trading volume last year.  While many industries will be forever changed through blockchain applications, the gaming industry will be the focus of this article.

The first thing my parents would think of upon hearing the word “gaming” is Nintendo.  And while video games do make up a considerable percentage of gaming sales, the industry has grown far beyond that.  Several years ago, ESPN aired an episode of E:60 that went inside the world of professional video game competitions.  One team, Dota2, was on a quest for a piece of an $18.4 million tournament prize pool.  Yes, $18.4 million for people who play games.  Since then, the industry has grown beyond anyone’s wildest imagination.  And one company, MobileGo, appears to be taking full advantage of that opportunity.

MobileGo’s MGO token is an Ethereum based ERC223 token that was developed to usher in a new era in the world of internet gaming.  The company’s main goal is to turn MGO into the world’s leading currency for the more than 2.6 billion gamers that currently exist.  It is expected that mass adoption will occur as game developers continue to grow their…

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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

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An In-depth Review of the New SuchApp Messaging App

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SuchApp has launched and with that comes the next generation of a multi-functioning messaging app which will open doors to targeted communication with individuals and groups. There is unlimited potential in business growth and advertising as well as interactive campaigns and communication with a broad audience.

Join A Group
There is a growing list of groups being developed by leaders and influencers who see the potential for targeted growth in their sectors. Retail and Commercial business owners want to be where the people are, and SuchApp has diverse functionality to reach a global marketplace. What’s more, SuchApp offers uncapped groups, meaning an you have the ability to communicate and network with an unlimited number of people in your target groups.

There are three different types of groups: private, open and secure. What differentiates between them is the ability to keep it open to the public, be invite-only, or launch secure closed groups.

One of our popular open groups is Dogs. Small businesses are beginning to promote their products or services. Large businesses can share their latest sales. The Dogs group invites dog lovers, groomers, pet supply businesses, veterinarians, dog sitters. Like-minded people can find a local dog park and hang out.

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