‘The past is the past’ is a phrase any crypto investor should embrace as we look back at the tumultuous last six months we have had in the crypto markets. We have seen Bitcoin (BTC) skyrocket to interstellar levels of $20,000 only to drop to recent lows of $5,800 that has caused heartache all over the crypto verse. With respect to our favorite coin of XRP (XRP), the road has not been easy either.
The remittance coin had also gathered interstellar speed on January when it was rumored that Coinbase was going to add the coin on its exchange. XRP managed to peak at levels of $3.82 but would be valued at $0.42 by June 29th: the lowest value all year. This is primarily due to the fact that the listing on Coinbase did not materialize. The Coinbase conversation is still around with Brad Garlinhouse believing that it is high time Coinbase listed XRP.
But things are looking up and a bull run is around the corner.
The team at the parent company of Ripple, have decided the time is now to rebrand the coin by now simply calling it XRP. This rebranding is as a result of the company facing three lawsuits of securities fraud by disgruntled traders who keep claiming that XRP is a security. However, since XRP was created in 2004 and Ripple in 2012, there is no direct link between the two apart from the fact that XRP was given to Ripple to use it as a utility coin in its Ripple network. The rebranding is sure to rejuvenate the coin in the markets as it walks off the last 6 months of continual decline.
A second reason why XRP will run with the bulls is the said 3 pending lawsuits. It is said that bad publicity is actually good in that people notice whatever is being bashed around. In this case, XRP is being criticized left, right and center. This means that the coin is now known by more people and they are watching from the sidelines to see how the lawsuits go. If they have a positive outcome (not a security), they will snatch up some XRP faster than greased lightning. If it is declared a security, they will still grab some XRP because it can now be traded in the traditional stock markets where it will have access to the trillions of dollars we are all waiting for in the crypto markets in the form of Institutional Investors.
Thirdly, the crypto markets have been described numerous times as being in their infancy. Some experts believe it will peak in 2022. Therefore, the ‘game’ is just getting started and only the early birds will be buying that Lambo in a few months or years. The early believers of new technology are first viewed as insane and later branded as prophets when things turn out being profitable in the later future.
Therefore, and in conclusion, the only direction for XRP heading forward is only up. The crypto markets seem to have bottomed out on June 29th when Bitcoin was valued at $5,800. With a new month, comes new hope. Coincidentally, the new month marks a new chapter of the year: the second half that leads to the Holiday season. We all remember how the markets reacted during Thanksgiving and into Christmas last year. History will surely repeat itself this year.
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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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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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…