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Why Ripple’s XRP is getting ahead in the crypto wars

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XRP

Let’s face it. Bitcoin is having a really bad time. Ripple’s XRP has been holding grounds nicely, but yeah, it joined the red party earlier this week; still, that would be safe to say it’s stayed ahead in the crypto wars as a whole.

Last December 17th Bitcoin went through the roof surpassing the 17k mark, but then the bears came home. Ever since then, the whole market has been going down dramatically (by more than 75% in total market capitalization), and Bitcoin has led the way down.

And that was nothing. On 14th of this month, there was a bearish run that is still going on, and it’s been nothing short of apocalyptic. As we write this article, Bitcoin is trading at $4,306 (down by 4.13% in the last 24 hours).

As things stand right now, everybody is losing. But some are losing a lot, and a handful of coins are holding their ground remarkably well. The one that’s been doing best under the recent conditions is XRP.

Let’s briefly review XRP’s recent performance. Most coins have been losing value for eleven months, even before last week’s debacle. Very few currencies were trading in the green before then. One was Ripple’s XRP.

Don’t get us wrong. Even XRP is losing right now, but it’s been trading in single red numbers while every other token in the market has been in double red numbers or worse. The point is this: given the context, XRP is doing very well, much better than Bitcoin. Why?

There are several reasons.

XRP is backed up by a series of strategic partnerships secured by Ripple, the private company that still owns most of the tokens. This is possible because that same company is working hard to create a full blockchain ecosystem centered about XRP and its many different use cases.

It is important to understand clearly: XRP has a full formal organization working on it, with talented and well-prepared people who actually get paid to do that. Communities support most other projects with varying degrees of commitment and enthusiasm.

Ripple, as a project, and XRP, as a coin came to life with a distinct purpose, and they’re pursuing it. Many cryptocurrencies are created experimentally or as a hobby by talented people that are fully capable of doing so.

Making it useful and guaranteeing adoption in the real world is an entirely different game. And that’s where Ripple’s leadership makes a huge difference. It’s pragmatic, talented, it knows its stuff, and it’s working hard so that everybody’s ships in the Ripple community sail in the same direction.

This is a time in which it is essential not to confuse losses with failure. Remember, Amazon reported losses for several years in a row before it became the money-making machine that’s made Jeff Bezos one of the world’s wealthiest men. XRP is succeeding, and that’s prompted a series of passionate (if probably irrational)  attacks from other projects.

https://twitter.com/ProfFaustus/status/1064583689978462208

The notorious Craig Wright (who’s claimed to be none other than Satoshi Nakamoto) has been going out of his way lately to attack XRP and to tell everybody (without trying to persuade or offer any proof, very much like his claim about being Satoshi) that XRP is a security and that it’s going to go down like a lead balloon. Is this because he can’t say Bitcoin is faster or losing less value or to have any real advantage over XRP in any practical way?

A big problem for Bitcoin is anarchism. It lacks any cogent leadership which has prompted a series of forks into other projects that use basically the same technology tweaked to achieve a particular effect. The problem is, those “new” coins are replicating Bitcoin to a great extent, so they’re diluting the original token’s value. And now, there is a hashing war between Bitcoin and one of its forks (Bitcoin Cash) which is not only taking value away from BTC but also draining computation power away.

In recent times, XRP has outperformed every other product in the market, Bitcoin included. It already left Ethereum behind concerning market and stands at number two spot for some time now. BTC’s market cap is still much more significant than XRP’s but if things keep going this way, do not be surprised if XRP ends up winning the crypto wars in years to come.

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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.

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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