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XRP Market Report for Q2 2018

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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.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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