Currently, it’s a bloodbath in the market as the top 20 cryptocurrencies go downhill. Bitcoin’s price is currently moving back and forth in the $7,200 to $7,500 zone. Ethereum sits at a $539 price range and Ripple XRP is currently changing hands at $0.58 according to data from CoinMarketCap.
Obviously, it’s no news that the market is bearish. In fact, the few past months have been a steady downward trend with nothing much to report on the upside. However, price movements aside, there are certain coins that have shown progress in terms of partnerships and platform development to the extent of capturing the attention of mainstream financial experts and investors.
Banks have started paying attention
If recent reports are anything to go by, major banks have started paying attention to Bitcoin. Spencer Bogart, a venture capitalist at Blockchain Capital, is quoted by CNBC as saying that
Every major bank is trying to do something in the space. Either they’re going to be offering bitcoin to their clients, they’re working on a custody platform or they’re opening up a trading desk. A deeper institutionalization of bitcoin is overall positive.
But even with high hopes about Bitcoin by mainstream financial experts, Bogart revels that he is concerned about Ethereum. He explained that there are many cryptocurrencies that are overvalued and since a good number of ICOs are built on Ethereum’s Blockchain, Ethereum can suffer if the ICOs don’t turn out to be a success.
However, among the coins that Bogart was able to recommend was Ripple XRP. Well, Ripple has been in the limelight of late with several mentions not only in the financial circles but also in mainstream media after it was used on a popular talk show to transfer funds to a wildlife fund. However, there seems to be more going on for ripple than what you will hear and see in the mainstream media outlets.
Is Ripple about to partner with Amazon?
Well, that has been the big question at the top of mind for every Ripple XRP fan. The speculative rumors about the possibility of Ripple XRP partnering with Amazon will definitely not surprise most of the Ripple community and for a good reason. Ripple has been working on partnerships with major banks such as the recent partnership that was made between Ripple and a consortium of 61 Japanese banks.
Considering Japan is one of the biggest fintech markets, there is no doubt that adoption for XRP will increase later this year when Ripple’s Money Tap app (an app meant to make it easy for banks to make round the clock domestic payments) goes live in Japan. Perhaps this will also entice Jeff Bezos to see the sense of getting some Ripple XRP going for Amazon as well. Who knows?
As it seems, however, even though there is a bloodbath in the market with the top cryptocurrencies taking on a downward trend, Ripple (XRP) still stands out from the rest. Basically, it is one of the best investment alternatives to Bitcoin in 2018. After all, what better time to buy than when there is a dip in the market?
For the latest cryptocurrency news, join our Telegram!
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 Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…