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Ripple moves 10M tokens from its OTC Distribution wallet as XRP goes through the roof

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According to information availed to the crypto community by Twitter Bot, Whale Alert, 10,000,000 XRP tokens have been transferred from Ripple Otc Distributed wallet to an unknown destination. This is one of the most significant transactions that have been processed in the last few days and registered on Ripple’s blockchain. The transaction was worth 2,863,641 US dollars at current prices.

Even though a majority of cryptocurrencies in the market record sideways price trends amid such whale movements, the movement of Ripple’s XRP has maintained an upsurge trend this time.

Coming back to the whale moment, the 10,000,000 XRP transaction was carried out over Ripple’s blockchain technology for a transaction charge of 0.000012 XRP that is worth about 0.00000362 US dollars. The block height of the transaction was #50106844.

The significant XRP transfer was carried out in 12 drops between the funding wallet address rMaV5QT2ZCwVFArQ7sdQMxhtzg6mgqJ47h and the receiving one being rEFtdHuyxgUjDL4t3gBsesQwHtnDy2W8rC, with a timestamp of 23:50:30 UTC on 17th September 2019.

Ripple Investors Discontent with Firm’s Spending

This is not the first time the Ripple (XRP) community has got its arms up complaining about the company’s flagrant spending.

Not too long ago, a Twitter user who goes by the handle @CryptoBitlord started a campaign on Change.org petitioning crypto followers to force Ripple Labs into stop dumping its default virtual currency. Through the petition dubbed Stop Ripple dumping, @CryptoBitlord has managed to garner over 3,000 signatures, a relatively impressive number considering the population of the XRP community. The target of the petition stands at 10,000.

According to the author of the petition:

“The only logical explanation that is evident to us is that Ripple Labs are dumping on us. The dumping is so large that it accumulates to billions. We need to stop this right now.”

According to the petition, the recent dismal performance in the price of Ripple’s default virtual currency, XRP, can solely be attributed to Ripple’s dumping of billions of XRP tokens to the market.

The San Francisco based fintech company, Ripple, still almost half of the total XRP supply in Ripple Otc Distributed wallet and sells a small portion once in a while. Also, Ripple holds the majority of XRP tokens in escrow.

Earlier this month, 3,500 million XRP tokens were transferred from Ripple’s escrow account, as it has become the norm, inciting fears of growing dumping.

XRP trades at $0.3135 after going up by 8.17% in the last 24 hours. Ripple’s native cryptocurrency remains the third most significant digital asset in the world with a total market cap of $13,497,915,967.

https://twitter.com/grishlinko/status/1174108902260002817

Ripple’s Alleged Dumping to be Met with Persistent Fork Threats

It appears the cries of Ripple community members are falling on deaf ears following their rage and annoyance of the company’s spending and excessive liquidity injection.

According to crypto analysts, Ripple’s continuous dumping and excessive liquidity injections are the factors to blame for the token’s downward price pressure in recent time. In other words, crypto followers are up in arms claiming XRP dumping benefit the fintech company alone but hurts the coin’s investors.

https://twitter.com/avrare/status/1174110747099619328

In their response, Ripple Labs claim the reason behind the company’s colossal selling of XRP tokens is to get capital to fund its operations and allow them to invest in several companies that have the potential to yield high returns back to the XRP ecosystem.

Recently, Ripple signed an agreement with the 8th largest bank in the US, the PNC — a deal that will see the bank utilize Ripple’s blockchain-powered international payment solution product, the xCurrent.

At present, the Ripple network has over 200 partners around the world comprising of banks, financial institutions, and payment providers.

It is estimated that Ripple owns about 60 billion of the 100 billion XRP tokens in existence. Currently, the world has seen the circulation of about 43 billion XRP tokens with Ripple releasing 1 billion XRP coins from its escrow account every month.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Green day for the altcoins as Ripple, Ethereum, and Tron prices soar

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The day of the altcoins

It could be early for us to declare the alt season open. But today’s cryptocurrency market performance has leaned significantly to the altcoin holders side in a way we haven’t seen since Bitcoin’s come back on last April.

As we write this, Ripple’s XRP has risen by 10.92% in 24 hours as the third most significant cryptocurrency trades at $0.29. Ether, the world’s leading altcoin, is up by 8,02%, trading at USD 208, and close to knocking on the all-important psychological USD 210 price level’s door.

Most of the cryptocurrencies in the market capitalization top 20 are gaining big. Tron’s Tronix and Dash lead the way with green numbers at the tune of 10% and 9%, respectively.

But besides that winning duo, gains between 3 and 7% are present along with the top hundred cryptocurrencies. The rise in Ripple, Tron, and other altcoins is significant enough that Bitcoin’s share of the market is down to 68.2% from the previous 69%.

Is Bitcoin going Stable?

The funny thing is that the altcoin bonanza has not affected Bitcoin’s price in the least. The mother and father of all cryptocurrencies is somehow stuck at around the $10,260 level, and it keeps trading sideways with fluctuations of 1% or smaller. While this can be discouraging to traders who want to make a quick buck, it also means that Bitcoin has found a way to resist volatility.

Bitcoin’s been above the 10K USD mark since September 02. It went as high as USD 10,800 four days later. It was a false breakout, and the price went back to USD 10,400 in just a few minutes.

Besides that parabolic event, though, Bitcoin has defended the 10k mark for more than ten days, which is in stark contrast with the high volatility usually associated with BTC and the emerging asset class known as a digital currency.

If Bitcoin doesn’t rally in the next few hours, then the digital assets world leader could see some of its market value go away in the hands of alts like Ripple (XRP) and Ethereum. This all might make speculators try to ride the green altcoin waves to make up for the losses they’ve had during the prolonged Bitcoin sideways trading session.

So it seems like a good day to get involved with some altcoin of your preference. Of course, you must never forget to do your due diligence first, make sure you know and understand the technical analysis numbers of Ripple (or any other altcoin you wish to back), have a business plan and follow it to the end.

Timing is crucial in the cryptocurrency trading world, of course. But informed decisions are just as relevant if you want to have a good session today.

Whether you’re a Ripple, Tron, Ethereum or any other altcoin’s fan, green days afford us all the chance to become emotional and make big mistakes that could make us lose a lot of our digital wealth.

Stay calmed and keep a cool head. We will see more days like these in the future, so if, for any reason, you miss the chance to earn a profit today, don’t despair. Just keep paying attention in the future.

The crypto world is exceedingly exciting, to be sure. It’s also quite risky. Stay safe so you can keep enjoying it.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Uphold welcomes Digibyte, along with 14 other new cryptocurrencies

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Uphold is a private company devoted to processing instant and secure international payments. Its compliance at the worldwide level and security features are world-class. It’s easily integrated into open APIs. So whatever your industry does, Uphold has a suitable digital solution for you. And now, the platform has announced the support for DigiByte (DGB).

The service has many advantages. It offers instant and secure global transfers, low-cost currency, and commodities conversions which are protected against the usual FX risks. Your funds are stored for free, and you have access to a global base of customers without all the hassle (and costs) inherent to settling international payments.

The company understands that every business in the world is unique, so it’s willing to work with each customer individually to come up with a tailored solution that suits its specific needs perfectly.

The 15-day countdown challenge

On last August 28th, the company announced that it had heard its customer’s voices. They wanted more digital assets available, so the company listened and moved to include 15 new currencies carefully selected amongst the crypto verse’s more promising projects.

The company called this the “15-day crypto countdown challenge.” It started on August 28th with Tron’s Tronix currency, and it’s kept going since then with Nano, Stellar Lumens, Cardano, Iota, Chainlink, Cosmos, Neo, EOS, ZRX, NEM, Zilliqa, Decred.

Yesterday was the countdown’s final day and the last coin to be included is none other than DigiByte (DGB). And the buying fee for this currency was precisely equal to zero for 24 hours.

This is excellent news for Uphold’s users as they will have a broader range of choices to invest their money or quite simply to get ahold of a promising coin. It’s also a good development for all the blockchain projects involved. Every project wants to be available in as many reputable platforms as possible. That increases utility for the token, demand, and both things drive the market’s price up.

The latest platform that just listed DigiByte is one worth more than a try

The platform includes trade in 23 fiat currencies as well as 23 cryptocurrencies. But it adds versatility to your standard cryptocurrency exchange by supporting three stablecoins and four precious metals.

Funding your account is comfortable with a debit card, the conversion is instant, and blockchain access allows you to transact with your digital wallets in seven different chains. It even offers a low-cost credit service secured by your digital assets.

Uphold’s services are exciting, trusted, and transparent. They don’t use your money for any hidden purpose, and the company’s holdings and obligations are published in real-time. The security standards are very high through location-based protocols and two-factor authentication.

The platform boasts a million users all over the world already, and the service includes mobile apps for both major mobile operating systems (Apple and Android).

The company’s developments have been covered by authoritative technological newspapers such as Forbes, Wired, and even the Wall Street Journal, not to mention this very website.

If you’re not involved with Uphold yet, maybe you should take a moment and give it some thought especially if you are a DigiByte fan. It’s one of the most versatile exchanges on the planet, and it will allow you to do things that are just impossible in many other more famous platforms.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple-backed Coil to give away $100m with creative commons and Mozilla to advance web monetization

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Ripple-backed Coil’s CEO’s vision

Have you ever heard about Stefan Thomas? Probably not, as he’s not in the limelight as much as he probably should. Mr. Thomas is the founder and CEO of Coil, a Ripple-powered successful micropayments internet company.

His vision and wish are to have an Internet in which currency flows as quickly, cheaply, and easily as information, especially when it comes to creative content. In his mind, content creators shouldn’t have to rely on Youtube’s or Instagram’s ad money to get some income. Instead, it should be their fans who pay them directly.

And that’s precisely what Ripple tech-powered Coil is trying to achieve, along with non-profit organizations such as Creative Commons and Mozilla. They’re going to spread the joy to the tune of 100 million USD in grants to content creators and other individuals who are embracing the ad-free business model. The money will be allocated via a fund dubbed as ‘Grant for the Web’ over the next lustrum.

“The internet has gone from a place rewarding creativity, invention, and substance, to one dominated by a few advertising dependent platforms that promote and incentivize anything that grabs and holds the public’s attention,” explained the group in a statement. It also described that the new fund would have privacy as a core value in how it supports creators.

Coil’s $100m Fund for Creators

The fund is Mr. Thomas’ baby. Besides founding and leading Coil, he’s served as Ripple’s Chief Technology Officer for a long time. There, he developed a new technology known as “Interledger,” which brings together the functionality from several online payment systems. Coil makes it simple for web surfers to support their favorite creators by facilitating small payments via their browsers.

Coil’s leader told Fortune in an interview that the streaming payment tech is feasible as long as there is an environment that removes friction for users. That’s where the new fund comes in.

According to him, it will be available to anyone. Application developers, podcasters, journalist, you name it. Loup Design & Innovation, a consulting agency, is the chosen manager for the fund. At least half of the money will go to open-sourced based projects.

Coil’s partnership with Creative Commons and Mozilla is not a coincidence, according to Mr. Thomas himself. He explained to Forbes that both organizations were carefully chosen to be Coil’s first partners because they have a history of promoting an open Internet and coming up new monetization methods and licensing schemes.

Cable Green who is currently serving as Creative Commons’ interim CEO, added,

“We’re very interested in identifying new ways of rewarding open creativity and enabling people to show their gratitude to creators who share their work openly with the world.”

Ripple-backed Coil project’s future is not a foregone conclusion at all. It will challenge the industry’s giants such as Google and Facebook. It’s not even that clear that ordinary consumers are that interested in adopting payment systems that level the field for the creatives.

But Mr. Thomas remains optimistic, thinking that flywheel effects are on the cards if you can persuade a specific community already connected by geography, language, or some other factor to support the new business model. He also suggests that ‘Grant for the Web’ program could collaborate with some of the Youtube’s celebrities that could influence their followers to jump in the wagon.

And who’s paying for the grants, I hear you ask? Well, according to Ripple’s former officer, the grant comes from Ripple to Coil. In consequence, it will use XRP in some cases, as an essential part of the project’s financial operations.

This is a visionary, bold, idealistic, and innovative vision for the Web. We hope it fares well. And if it does, it will be an excellent thing not only for Ripple-backed project but for all.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple (XRP) Price to Hit $7 Mark, Claims Crypto Analyst

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Since the beginning of the year, Ripple (XRP)’s price changes have been moving at a plodding pace despite the company’s growing popularity in the world of financial technology. Global investors, financial institutions, banking firms, celebrities, market analysts have already put their weight behind Ripple in its quest to revolutionize the face of cross-border settlements.

Although the prices of XRP have remained unchanged for a long time, exchanging at around 0.25 US dollars for weeks, a section of crypto analysts believes some endorsements will soon start reflecting in the price value of Ripple’s default currency, XRP.

One crypto analysist going by the Twitter name @XRPBitcoin predicts Ripple will soon start witnessing a massive price upsurge that will see the crypto coin settling on the 7 US dollar price level. Through his Twitter page, @XRPBitcoin tweeted:

https://twitter.com/XRPBitcoin/status/1173252366164008960

According to many, @XRPBitcoin’s Ripple XRP prediction seems to be a very far-fetched target for the crypto token to reach the 7 US dollar mark this year, but in an industry such as this, anything is possible, and it will be wrong to rule out his argument completely.

History Gives Clues to this Predictions

According to Ripple (XRP)’s price chart, Ripple’s crypto token has bottomed out. On looking at its chart, it is evident that there isn’t much room for the virtual token to fall beyond its current value because the 0.25 US dollar mark appears to be a healthy historical support level for the crypto asset.

Ripple XRP price chart all time, coinmarketcap Tron Weekly Crypto
Source: CoinMarketCap.com

On looking at the overall price chart, it is clear that Ripple’s current situation is indeed the bottom if we do not consider the consolidation base the crypto asset experienced before the last significant price surge that peaked on 3rd January above the 3 US dollar level.

According to experts who are examining the claims of the Twitter crypto analyst, @XRPBitcoin, the natural progression of Ripple prices should be upwards from its previous baseline if there aren’t any exterior manipulating factors messing things up.

Although the 7 US dollar prediction might seem to be farfetched crypto followers should expect great things coming from Ripple’s XRP in the coming days and weeks.

Other Ripple XRP News: Ripple Expansion Efforts

So far this year, Ripple has had a successful run as the San Francisco-based fintech company has been able to pen down a lot of partnerships. Ever since its conception, 2019 has been the year Ripple has made considerable efforts to promote the entire XRP ecosystem.

It is worth noting that Ripple-backed Wietse Wind and XRPL Labs have also made tremendous efforts to promote XRP and its entire ecosystem like Ripple Labs.

Despite the many partnerships and products, the company has been dishing out to promote its default currency, and its blockchain platform, one of the most notable ventures Ripple is undertaking must be its efforts to expand beyond the cross-border settlements industry.

Ripple’s Plans to Grow its Reach Beyond International Payments

At present, Ripple is looking into ways the fintech firm can expand its reach beyond the international payment industry. It is evident to everyone familiar with Ripple that the company has been focusing on revolutionizing the global settlement sector with its products using XRP.

Ripple has been so focused on this mission that it managed to bypass SWIFT, the giant traditional settlement network that financial institutions have been using for decades now.

The San Francisco-based blockchain firm has managed to offer products and services that have filled the gaps and flaws the SWIFT platform was attached to creating a superior experience for customers.

Also, Asheesh Birla, Ripple’s Senior Vice President of product management, recently shared with Change the Wave podcast that Ripple is in the process of looking into ways it could play a direct part in the emerging sector of micropayments. Asheesh said,

“If you go to some developing countries you will find out that getting a microloan of about 10 US dollar loan is a big deal. I think blockchain could offer such services in a way that could not be done with other technology.”

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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XRP Liquidity Index surpasses all-time high at Bitso as Ripple coin crosses BTC in MXN volume

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Yesterday, the founder of Bitso, a Ripple’s xRapid powered crypto exchange based in Mexico, confirmed that XRP liquidity index had surpassed all-time highs.

A prominent XRP community member on Twitter, Xrpcenter first shared this news and later on Bitso founder, Daniel Vogel confirmed that xRapid is flowing nicely through Bitso, and has surpassed the maximum level of liquidity of all time. Bitso has been a critical player at helping with XRPL decentralization and implementing XRP products.

xRapid

Ripple’s xRapid is one of the most prominent products of the blockchain firm that uses XRP as a core for making transactions. So far, xRapid has made a massive impact, and its utility is growing swiftly. Previously officials from Ripple have confirmed that more than 20 financial institutions are using xRapid. With Bitso being one of them, xRapid is positioning very well in the market. As its adoption is increasing day by day, it will have a significant impact on both Ripple and XRP.

The most friendly and promoted exchange for Ripple (XRP)

Bitso has been primarily supported, and the XRP community has responded very well. Bitso allows trading XRP at a low fee and quick transfer alternative for moving funds. XRP surpassed BTC as the most traded fiat pair on the xRapid-enabled Bitso exchange. However, as we write this, BTC/MXN have again jumped back to the 1st spot as XRP/MXN trading volume has just fallen behind BTC/MXN.

As the crypto industry continues to develop and grow, Ripple keeps stamping its authority and is attracting more investors with every day that passes. Ripple is working hard to solve real-world solutions to outdated systems, and that shows itself by seeing how much they are working with regulators and banks.

Ripple’s product is being used at various institutions, and the banking world has already admired it. Crypto analysts believe that the growth of xRapid will give a significant push to XRP in coming time.

Crypto industry is still new, and patience is needed in this game. This is once in a lifetime opportunity for the investors. Remember many didn’t believe in Bitcoin at first and made the mistake of not buying BTC when it first showed up. So, investors need to be aware of this aspect and do not make that same mistake again. Taking Ripple’s tech and team into consideration, Holding XRP is the option to go with.

Bitcoin overall is still dominant, but things are steadily changing, and Ripple’s XRP seems to be going in the right direction. Although it’s only one corridor, it starts somewhere; previously surpassing ETH in the market has shown that XRP has the potential to get bigger.

Yes, BTC is still by far the leader in terms of liquidity and widespread adoption, but the XRP community needs to believe in their ‘choice’ and stay patient. At least that what we think as things stand.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Crypto whales transfer 260,000,000 Stellar while XLM price tries to stabilize

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Whale Alert today analyzed the massive transfer of Stellar’s XLM cryptocurrency from unknown wallet to a crypto wallet that belongs to Kraken exchange.

Whales Move Massive XLM Tokens

A massive 260,000,000 XLM transaction made crypto headlines today which currently worth 15,008,070 USD. The transaction was deemed successful on September 14, 2019, at 00:08:11 UTC between unknown wallet, i.e., GBKSIHGCSYGYLOBPRUL3UDTR4YMBJIUFJJGIKI445GPGIUMX7HJAZKON to a wallet held with Crypto exchange Kraken, i.e., GA5XIGA5C7QTPTWXQHY6MCJRMTRZDOSHR6EFIBNDQTCQHG262N4GGKTM.

The XLM cryptocurrency is already stepped out from the top 10 cryptocurrency’s list on coinmarketcap; it continued experiencing the decline in its daily trading volume. At the time of reporting, the coin is holding 12th largest spot with $1,156,112,429 market capitalization. It is trading at $0.057565 with an appreciation in price by 0.15 percent within the past 24 hours. Admittedly, the coin is showing some fight.

Whales movement in the crypto industry is no more surprise these days since such transactions get caught quite often. Very recently, on Sept.11, Whale Alert spotted transfer of $1 billion worth bitcoin transactions to a single wallet which believed to be a gigantic movement of bitcoins to an unknown wallet.

Stellar and Ripple

Stellar is a blockchain network, founded by a former CTO of Ripple, Jed McCaleb. As both firms offer similar services, Ripple and Stellar termed competing giant. With that being said, the Stellar recently hired Zelle co-founder Mike Kennedy as the CEO of Interstellar, Stellar’s business arm that develops payment protocols on the stellar network.

As Interstellar’s new CEO carries years of experience in the digital payment industry, Stellar aims high and likely face-off Ripple’s ongoing efforts in the fintech industry. Expressing his interest in joining Interstellar, Mike states;

“One of the things Interstellar is going to do is identify gaps between Liquidity and market-making and step in and fill those voids.”

Kennedy added,

“I think programmable money, digital assets, and digital tokens are the future. They allow for faster, cheaper, more efficient money movement than the old traditional way of doing things.”

Besides, the whales’ movement related to Stellar isn’t the first of its kind. Not too long ago, Stellar founder Jed McCaleb was on top bulletins of crypto media. It’s worth noting Jed McCaleb’s wallet address allegedly received XRP worth $26 million from Ripple.

That news wasn’t well-received by the community; few users blasted Ripple over transferring 100 million XRP to Jed McCaleb when company’s native token XRP itself has been making lower lows without showing any signs of accountable recovery.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Zelle Co-Founder Joins Ripple’s Competing Giant as CEO

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Financial Industry veteran Mike Kennedy is taking charge as CEO of Interstellar, a blockchain and digital currency technology firm which is quite often referred the rival to San Francisco fintech firm Ripple.

Stellar Network Might Receive Huge Boost Soon

Mike Kennedy earlier co-founded Zelle, a peer-to-peer payment network and carries his years of experience working in the payment industry to Stellar blockchain.

Various banks widely adopted Zelle network in the united states – few of those were – Morgan Stanley, Bank of America, JP Morgan Chase. At Interstellar, Kennedy is responsible for market-making and liquidity solutions for Stellar.

Interstellar is a wing of Stellar, emerged in 2018 as a part of acquisition deal between Lightyer.io and Chain. This firm is specifically developing payment protocols or payment layer on the Stellar network.

Interestingly, the two giants Ripple and Stellar offers similar services wherein the former is quite famous due to its growing partnership with financial entities, banks, and global regulators while Jed McCaleb founds latter, an American programmer who earlier served as the CTO of Ripple until 2013.

It’s worth mentioning that the XRP community recently bashed at McCaleb and Ripple when the transfer of 100 Million XRP caught between Ripple and Stellar founder McCaleb.

Ripple v/s Instersellar

Mike Kennedy taking charge as CEO of Interstellar possibly is a panicking movement for Ripple, especially when the firm itself is struggling to get out of the ongoing debate of dumping XRP and causing the token to lose its value further.

The point here is that Interstellar also offer the distributed ledger for banks to use and upgrade their financial system for cross-border payment transfers.

Notably, Stellar with Interstellar and Ripple with its blockchain products are already hovering above the Swift-payment services – but the point here is, will Ripple’s popularity gets down if Mike Kennedy committed and bring Interstellar on top.

According to Mike Kennedy, Interstellar is already connecting with the ample of financial institutions, banks, companies, licensed non-bank providers.

Also, the firm works at building businesses that the Stellar Development Foundation wouldn’t do otherwise. He said;

“That’s not something that makes sense for a nonprofit like the Stellar Development Foundation to do,” Kennedy said. “However, it is something that would really help to drive growth and adoption of the network beyond the rates that we’re seeing today, and so that’s one of the things that we will likely do with Interstellar.”

Kennedy’s statement sounds promising as he holds substantial expertise in the payment field of ‘transforming traditional banking systems to modern blockchain payment solution.’

He believes that the cross-border payment transfer using SWIFT and other corresponding banking consumes the majority of dollars – Keneddy further elaborated his stance as;

“That’s where the majority of dollars are going through for international payments today is the traditional SWIFT and correspondent banking, and we clearly have a much better solution that I think we’re going to get everyone to realize and adopt.”

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Dash might receive a quick boost on Monday as Coinbase Pro decides launch

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The renown digital currency exchange, Coinbase Pro announced to list the top digital currency, Dash on Septemeber 16, upcoming Monday. The currency which is currently valued at $92.23 might get a quick boost in its price once it added to Coinbase Pro.

Coinbase Pro Adding Dash

The announcement revealed on Sept.12 states that the exchange is accepting Dash in supported jurisdictions, except for NY state and the UK. The exchange has said that it will accept deposit ahead of trading – as such, users can proceed to deposit on Monday which will remain active for at least 12 hours and trading will then begin on Sept.17 on or after 9 am PST if liquidity conditions are met. The exchange writes that;

“Once sufficient supply of DASH is established on the platform, trading on the DASH/USD, and DASH/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.”

Although Coinbase has over 30 million users, the addition of Dash cryptocurrency will catch the attention of a new audience. On the other side, Dash is currently ranked as 16th largest cryptocurrency, covering the total market cap of $833,591,474. At the press time, Dash experienced a quick surge of 4.73 percent within the past 24 Hrs and trading at the value $92.23 against USD.

However, it’s worth noting that the DASH will be initially available across Coinbase’s supported jurisdictions. Accordingly, users from New York and the United Kingdom aren’t allowed for trading. Other Jurisdictions may be added soon, the exchange said. Moreover, it also revealed that the trading would be available in DASH/USD and DASH/BTC pairs.

But not on Coinbase.com

Dash crypto emerged back in 2014 – henceforth considered as the oldest digital asset in the history of the crypto industry. Despite its existence since 2014, the Dash has been caught with apathetic comments due to its anonymous feature – quite often, crypto twitter compares it with Monero and Zcash citing its anonymity. This is one of the primary reasons why many exchanges step back to list Dash.

Dash’s listing on Coinbase pro doesn’t mean that the coin will be available on Coinbase.com or its consumer mobile apps. However, the blog further reads that they will be a separate announcement if the exchange decides to launch Dash on Coinbase.com.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple Hits a New Milestone as XRP Closes its 50-Millionth Ledger

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Earlier today, XRP — the cryptocurrency run by a fintech startup Ripple — hit an essential new milestone, or rather its ledger (XRPL) did. According to new data, XRPL has just managed to successfully close its 50,000.000th ledger, after operating continuously without any reported issues. In the process, it verified more than one billion transactions.

This is a massive milestone for XRP and Ripple alike, as it proves the efficiency of XRP underlying technology, as well as the utilization of XRP as a cryptocurrency.

XRPL explained

As many already know, XRP does not operate on traditional blockchain technology, like the one used by Bitcoin, Litecoin, and other altcoins. Instead, it uses the Ripple Protocol consensus algorithm which stores all of the account and transaction information on the XRP Ledger, which is, a transparent, distributed database.

Its network is managed by a group of independent validating servers which are constantly comparing their very own transaction records to one another, thus ensuring that no false transactions are being made. These servers could belong to virtually anyone, including market makers, banks, or anyone else who wishes to operate them.

Another great advantage of Ripple’s system is that it allows for near-instant validation of accounts and balances. Notifications of verified transactions become available within only a few seconds, which is a significant improvement on Bitcoin and other cryptos. However, the payments are still irreversible, just like with other cryptocurrencies.

Who is using XRP?

Ripple’s plan is not to use XRP as digital cash, but rather as a method of powering the company’s payment solutions, such as xCurrent and xRapid. These are payment solutions that Ripple has created itself, and its goal is to offer it to the banks and financial institutions around the world.

These institutions still use old, outdated technologies that usually require 3-5 days to process international transactions. XRP can do it within seconds, and it would act as a middleman between different banks, located in different countries.

Simply put, when a client comes to the bank wishing to send money internationally, they would deposit their fiat money, and the bank would simply send the appropriate amount in XRP to the other institution, which would receive it and provide the receiver with the appropriate amount in their currency of choice.

According to Ripple CEO, Brad Garlinghouse, over 200 banks have already agreed to start collaborating with Ripple and utilizing the company’s payment solutions, which appears to be accurate, considering the new milestone. Of course, XRP price is still meager, currently sitting at $0.25 per coin. Even though this is a low price for XRP, the icing on the cake is, unlike many other cryptocurrencies — its current value is even lower than it was at the beginning of this year.

However, the Ripple’s native coin’s value directly depends on how many banks use it, and how useful they find it to be. On the other hand, the value of coins like Bitcoin depends on the investors’ sentiment, and whether or not they are willing to buy BTC.

Conclusion

In the end, Ripple and its XRP have hit a significant milestone today — one that might even encourage others to join in with Ripple and start using its solution(s). That way, banks wouldn’t have to join the crypto industry in full, but still, improve their technology and remain relevant in a world where transactions are made within seconds, instead of days, or even weeks.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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