Connect with us

Blogs

XRP Market Report for Q2 2018

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

Q2 of 2018 has ended, and it is time to see how our favorite cryptos have performed. For this article, we will be focusing on Ripple (XRP).

Volatility has been low in Q2 of this year, but even so, Ripple has been managing to sell around $73.53 million.  The sales volume was accounted for around 0.125% of the global volume of Ripple. Additionally, 3 billion Ripple tokens were released from the cryptographic escrow, with 2.7 billion being returned.

Ripple, the company, sold around $56.66M of XRP, which represents 0.125% of the total trading volume for the coin. Not only that but Ripple’s subsidiary – XRP II, LLC – has sold an additional $16.87 million. In total, that makes 73.53 million of XRP sold in Q2 of the year, which was barely noticeable compared with the Ripple market that traded over $45 billion worth of XRP.

The volatility of Ripple was also noticed to be lower in this quarter, and it declined by 9.0%.

As mentioned previously, Ripple was also released from escrow. Back in Q4 of the previous year, it locked up around 55B, while now, it released 3B, with 2.7B returning to new escrow contracts. This leaves Ripple with an additional 300 million to be used for supporting its ecosystem.

New XRP ecosystem entrants

Q2 has brought multiple changes to the XRP ecosystem, among which were also some new entrants. One of them is Stefan Thomas’ Coil, which is to use Ripple for micropayments. Another one is Scooter Braun, the founder of SB Projects, a known entrepreneur, and an entertainment talent manager. Braun has decided to pursue various endeavors that will be capable of making use of Ripple. The end goal here is for artists to become able to manage their content easily, as well as to monetize it properly.

Xpring is supporting both of the entrants, and it represents one of Ripple’s new initiatives. It is expected to work with various firms, as well as the projects that are being built on the Ripple ecosystem, and by trusted entrepreneurs.

Comments on the market

The crypto market started this year with $603.7 billion in the total market cap for all digital assets. Despite the fact that hundreds of additional coins appeared in the previous 7 months, the total market cap still dropped down to only $254.7 billion.

In the second quarter, Ripple market slowed down a lot when compared to the situation at the end of 2017 and the start of the year. One of the reasons for this might be the constant regulation concern, which is not only an issue within the US but around the world as well.

Additionally, even though the SEC has declared that Ether is not a security, no digital asset has seen an increase in price until a week and a half ago. Until that point, the decline was pretty consistent for all cryptos due to that fact that a lot of them are very tightly correlated.

Such tight correlation is a clear mark that the crypto world is still at its early stages. The values of the most popular cryptos have yet to be distinguished by the traders, and the industry itself needs to decide what is valuable and useful, while the rest will be discarded.

When compared to other cryptos, Ripple showed some slight variations. For example, it performed similarly to Bitcoin and was outperformed by BCH and ETH. Even so, this was probably Ripple’s best quarter since it came to be, at least when it comes to the number of new customers. Unfortunately, however, this did not help its price at all, and it simply continued to drop just like the prices of all other cryptos. To some, this was proof enough that XRP is truly independent of Ripple the company.

Another thing worth noting was the drop of South Korean trading influence. Usually, the South Korean influence covers over 70% of the global volume. Recently, however, this has dropped a lot, and South Korea went from being the first one in global share to the fourth place. The reason for this probably lies in an entire line of big hacks, as well as trader fatigue.

The volatility was driven down from 13.8% at the end of 2017 to barely 5.7% in Q2 of 2018. This was the lowest volatility that Ripple has experienced in more than a year and a half.

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite