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Will XRP Blow Up in 2019?

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XRP

The second largest cryptocurrency, XRP, has made quite a number of headlines over the course of 2018. While being a center of several controversies, including accusations of centralization, misuse by its parent company, Ripple Labs, and even being a scam — the coin still managed to grow and improve. Now, investors are wondering whether or not the next year will be the one when XRP is going to blow up and establish dominance.

XRP in 2018

As mentioned, XRP was often targeted over the course of this year, sometimes by crypto purists, and sometimes simply by dissatisfied traders. It has gone through several accusations, and even entire lawsuits, which focused on potential elements of centralization or misuse by its creators.

The coin is different than Bitcoin in a lot of ways, including the fact that it cannot be mined, but also the fact that its parent company holds the majority of XRP coins. However, as time went by, these accusations started to fade away, as XRP started proving itself.

Elements of centralization started disappearing, with more power being shifted to network participants. Furthermore, XRP even managed to have some of the lawsuits dismissed, further improving its own image. In addition, the coin has a reputation of being favored among banks all around the world, with over 120 of them in 40+ countries willing to partner up with it.

There are several reasons for this, including the coin’s excellent speeds, relative stability when compared to other cryptocurrencies, as well as the fact that Ripple, XRP’s creator, is itself a reputable firm. Additionally, the company is dedicated to improving cross-border transactions, which last too long by today’s standards, with procedures behind them being much more complicated than they need to be.

To solve this, Ripple managed to create several products that make use of the XRP currency, such as xRapid or xCurrent. These products are capable of reducing the time needed for making international payments to mere seconds, instead of days as it is usually required. Banks around the world were quick to recognize the potential of this technology, hence their positive attitude towards this crypto.

Meanwhile, in the crypto world, XRP managed to improve its image, and even make significant progress. For example, it overtook Ethereum’s position in mid-November and is currently the second largest coin by market cap, bested only by Bitcoin itself. With its reputation slowly building up, XRP is becoming a coin that might someday dominate as a payment method around the world.

XRP in 2019

With the entire 2018 being mostly bearish, investors are looking towards the future, hoping that the next year will be more crypto-friendly. The same is true for XRP supporters, despite the fact that the coin has experienced lesser losses than other altcoins.

Numerous experts have been quite bullish on XRP in recent months, with some of them making predictions about XRP hitting as much as $10 per coin. While this is certainly not impossible, it will require a serious bull run in order to happen.

If no significant events occur in the next several days, XRP will likely enter the next year with the price between $0.35 and $0.40. At the time of writing, the coin has a value of $0.367693 per unit, after experiencing a slight drop. Its market cap is currently at $15 billion, which makes it less than $2 billion larger than that of Ethereum.

Meanwhile, Ripple continues to enter partnerships with banks and financial institutions around the world, and the company CEO, Brad Garlinghouse, has recently announced that xRapid is already in use by some of them. He also announced that the activity of xRapid can currently be traced on 4 crypto exchanges, which are providing signals of the product’s activity.

According to many, Ripple and XRP have done a lot to set up grounds for future growth in this year, and with a bit friendlier conditions, the coin might see serious growth and development in 2019. Whatever actually happens, XRP remains a coin with a lot of potential, and it is sure to survive any unfriendly conditions due to pure usefulness and its potential to improve money transfers around the world.

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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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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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