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Will Ripple (XRP) Become the Next Crypto Futures Market?

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When Bitcoin Futures contract was first introduced during the close of 2017, it immediately made headlines. However, unlike Bitcoin futures contracts, which have attracted thousands of traders after the release, XRP futures contracts did not enjoy the same fate. Ripple futures contracts, which have been active for almost 18 months now, hardly made any impact on the market. In fact, if you look at the prices, it has been on a downward trend for the most part of 2018.

The first XRP derivatives were introduced by Crypto Facilities, a London based startup, in October 2016. Although the CEO of the company, Timo Schlaefer, has been silent on the matter, he anticipates that there will be widespread adoption of XRP futures in the coming months. “We’re in the process of working with some of the large market makers to draw that further”, Schlaefer affirmed.

With Ripple announcing a partnership with Crypto Facilities, Bitcoin was lagging far behind when it comes to getting its first CFTC regulated Bitcoin derivatives. By the time Bitcoin futures contracts were adopted by the Chicago based commodities companies CBOE and CME Group, Crypto Facilities’ XRP futures contracts were already trading $14.2 million in volume a month. When Cboe’s Bitcoin futures contract expired in January, the Crypto Facilities’ XRP futures had crossed $24.6 million.

Apparently, apart from a few internal investors, not many people knew about the Company’s XRP trading. But it has come a long way from its dark days; “The liquidity has been growing quite a lot”, reported Schlaefer.

Price Movements of Ripple (XRP) Futures

Schlaefer refused to comment on the biggies the company is working with, but his report to CoinDesk offers a crisp insight into the market shift. When closely observed, the data mirrors XRP’s price movements to a great extent. To begin with, the volumes of XRP futures, which have been introduced in October 2016, were on the downtrend until March 2017. However, the XRP futures volume increased exponentially in the following months. During this time, the value of XRP also hiked from $0.03 in April to $0.34 in May. A similar case was observed in January as well when the trading volume touched $24.6 million.

XRP futures, which have been concealed from media’s attention, for the most part, the last year, are indicating positive movements within the market. If you analyze the market trends, it is evident that the trading volume has gone up substantially after the release of Bitcoin futures. With XRP making its way into the mainstream market, it’s expected that the trading volumes will climb higher.

LedgerX and Ripple (XRP) Futures

The CEO of LedgerX, the CFTC-regulated Bitcoin derivatives provider, revealed his company’s plan of exploring XRP futures. It launched its first regulated Bitcoin derivatives last year, and so far traded $100 million in volume.  Paul Chou, the CEO, however, pointed out the limitations that can slow down its appropriation. He said, “Physical settlement avoids those issues because you are not beholden to some abstract price that might or might not be manipulated. You either want the crypto, or you don’t.”

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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 David Pape via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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