For some time now, a lot of experts have been claiming that something is about to happen in the crypto world. Numerous markets started gaining value, while others began losing. Amid all the speculations, the crypto community experienced another exciting twist, where Ripple managed to overgrow Ethereum in terms of the market cap once again.
XRP overtakes Ethereum for the second time in 2018
At the time of writing, Ripple (XRP) is actually the second largest crypto, with its market cap exceeding that of Ethereum for around $200M. The growth came suddenly, and it began in the last 24 hours when XRP news reported that Ripple value broke through $0.5 resistance.
At the time of writing, XRP price is at $0.554132, with a massive 20% increase. This is not the first time that Ripple has experienced a price surge of this size, nor the first time in the last few months that it managed to replace ETH as the second largest crypto. This type of behavior is usually followed by ETH rising even more, and reclaiming its position. Soon after that, things would go back to normal.
However, the growth does come as a surprise, mostly because there were no indications that something like this would happen. Contrary to the expectations, Ripple held on to a price of $0.46 for weeks, and many have taken this as a sign of stability. Now, Ripple is snowballing once more.
A lot of investors have started wondering if this is an official start of a real bull run, similar to the one of late 2017. If so, then this XRP news may only be the beginning. Right now, all of the top 20 cryptocurrencies apart from Tether (USDT) are trading in the green. The same is true for most altcoins in the top 50.
It is currently unknown whether this trend will continue, or will it simply weaken and die down. This is certainly the kind of development that the community has been hoping for, for a while. It is also unknown what has caused the price surge, although some believe that the addition of a new margin trading pair between Ripple and Bitcoin on OKEx might be the reason. Some say recent XRP CMC listing is responsible. Perhaps OKEx is only the spark that started the surge, while XRP has been preparing for it during the last several weeks.
— OKEx (@OKEx) November 6, 2018
Another thing that is expected to arrive is some sort of backlash on social media. Ripple is a cryptocurrency that has had its fair share of controversies, especially throughout 2018. Because of that, many would use an opportunity like this one to share their view on this asset.
XRP is one of the most scandalous digital currencies out on the market. It has not properly presented itself as a worthy investment for plenty of people. https://t.co/YqI7NjJGdu#ICORush #ICORushMagazine #ICORushNews #Ripple #XRP #MrOak pic.twitter.com/S6G4wdcG7B
— ICOrush (@IC0rush) November 6, 2018
For now, Ripple continues to grow. The community would like to know where its price is going to end up, but to achieve that, they will simply have to be patient. Things currently look pretty charming for XRP (as well as the rest of the market), and a lot of investors will be entirely pleased if its price remains above $0.5 once everything calms down.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
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
Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry
The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.
“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director, “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography. We’re really happy to welcome them into our partnership ecosystem.”
The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement.
Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…
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…