Lis 15

Ripple (XRP) Overtakes Ethereum as Second Biggest Crypto By Market Cap

Ripple (XRP) has once again overtaken Ethereum by market cap amid ongoing cryptocurrency market turbulence and bearish sentiment.


Only $100k Separates Ripple and Ethereum

As data from Coinmarketcap confirms, Ripple’s XRP token is now the largest altcoin, losing less than Ethereum in the past 24 hours. As a result, ETH is now in the third-largest cryptocurrency, repeating what has become a pattern in 2018.

As Bitcoinist previously reported, XRP last overtook ETH fairly recently on the back of rumored expansion of the token’s usage.

While not directly affecting Ethereum, the Bitcoin Cash hard fork appeared to hit the asset particularly hard, ETH/USD 00 losing almost 15 percent versus Bitcoin’s 11 percent.

XRP/USD 00 fell 9.2 percent, the difference in market cap between the two altcoins now just $100,000.

No Cause To Celebrate

The short-term success of XRP contrasts with the continued publicity battle Ripple has seen in recent months.

As Ethereum developers forge ahead with major technical developments many have championed, Ripple appears mired in criticism of both its products and senior executives, who have delivered contradictory statements about the company.

In October, CEO Brad Garlinghouse hit back at accusations the network was overly centralized.

“I as the CEO of the company can’t control the XRP ledger. I can’t change a transaction,” he told Cheddar.

“…I think there are a lot of people out there who are waging holy wars, they’re spreading misinformation – and they’re spreading misinformation because they have an economic interest in that.”

Nonetheless, third-party interest in the token remains with news this week surfacing that Japan’s biggest bank wishes to use it as the basis for a cross-border remittance service to Brazil.

Multiple financial institutions are currently considering the concept of Ripple-based remittances, with the company’s xRapid payment network also debuting with XRP as its means of exchange.

What do you think about Ripple overtaking Ethereum? Let us know in the comments below!


Images courtesy of Shutterstock, Bitcoinist archives

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Říj 09

Ether September Price Lows Could Signal End of Bitcoin Bear Market: Analyst

Ether (ETH) prices “capitulating” in September was “significant” to ending the 2018 cryptocurrency bear market, according to a new theory from one cryptocurrency analyst. 


Thies: ‘We Were Looking In The Wrong Place’

In a series of tweets, UTR Equity’s crypto market commentator Eric Thies postulated that Bitcoin’s run to all-time price highs in December 2017 came as a result of Ether investment during the ICO phenomenon.

When interest slowed, so too did prices begin to freefall — Bitcoin reaching lows below $5900 in February this year and Ether below $170 in September.

“(Bitcoin’s) run in the end of 2017 was fueled by a MASSIVE ICO (ERC20) bubble and therefore indirectly fueled via ETH. Meaning that ETH capitulating in early Sept was significant to ending the bear market,” he wrote, noting the concept was a “theory.”

“We were all looking in the wrong place, expecting (Bitcoin) to do it.”

The ‘When Moon?’ Question

Commentators across the cryptocurrency industry and beyond have long sought a narrative to accompany the continued ‘slow bleed’ performance of most assets this year.

As Bitcoinist reported, talk of institutional investors entering to prop up prices continues to contrast with technical analyses suggesting price declines have not yet finished.

While most sources agree that a decisive U-turn cannot be far off, disagreements remain as to the real impact of institutional money or other factors on the industry, should these appear in the short term.

BTC

For Thies meanwhile, funds flowing in via exchanges, stablecoin Tether (USDT)’s token issuance, and other factors support the bear market culmination.

“…Capitulation really may have been $12k-$6k in early Feb, and everything thereafter has been the ecosystem stabilizing itself after a MASSIVE run up,” he concluded about Bitcoin’s performance.

Bitcoin prices have experienced several months of broad stability, at press time falling within 4 percent of values against the USD seen on the same date in July, August and September. 

What do you think about Eric Thies’ market theory? Let us know in the comments below! 


Images courtesy of Shutterstock, Twitter, CoinMarketCap.

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Úno 15

Make Ethereum Great Again: How ETH Could Go Mainstream in 2017

· February 15, 2017 · 9:00 am

In July of 2015, the world was introduced to Ethereum, and the altcoin market hasn’t been the same since. So what’s has the world’s second most popular cryptocurrency been up to lately? 


Ethereum’s Quick Rise to Fame

There was a time, let’s call that time, “2015,” when the Bitcoin ecosystem wondered aloud “When is there going to be an altcoin worth a damn?” Funny that we asked that because, in July of 2013, and officially launched in July of 2015, the world was introduced to Ethereum by wunderkind Vitalik Buterin, and the altcoin market has never been the same since. Time for an Ethereum progress report.

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In Ethereum’s brief history, ever since its initial, successful and innovative crowd-funding campaign, Ethereum has been a hotbed of activity, never short on drama. Its Ether (ETH) digital currency, partially thanks to the broader acceptance of Bitcoin’s digital currency, reached $1 USD in value far faster than Bitcoin ever did, reaching the milestone in about six months (Bitcoin took the better part of three years.)

DAO But Not Out

By the start of the summer, last year, Ethereum had easily passed $1 billion in market capitalization and its currency was valued at around $20 USD, at its peak. Last summer, things were going so well for young Ethereum, the brain trust launched their most ambitious project to date, the ill-fated DAO (Decentralized Autonomous Organization).

This venture brought in so many investors, but failed so miserably in its execution and security that the altcoin hard-forked, broke into two parts, seemingly permanently, and has gone through more forks to cope with the aftermath. The greater Bitcoin community had left young Ethereum for dead.

Ethereum Classic

So the second half of 2016 was a substantial slice of humble pie for young Ethereum, as its value dropped to a still impressive $7.99 by year’s end. Even after being literally broken into two (Ethereum Classic still exists, trading for about $1.25, according to Coinmarketcap,) that is over 700% in appreciation in its first full year, far exceeding the 126.2% return Bitcoin brought back during the same period.

The Next Big Move?

They also had one hold card that had yet to be played in Q1 2017. Microsoft had helped Ethereum get noticed by the mainstream, back in December of 2015, through the integration with their Azure platform for blockchain technology, which was based primarily on Ethereum’s version of blockchain technology.

Many see this as a keystone to Ethereum having such a meteoric rise in early 2016. It looks like Microsoft is ready to make deja vu all over again in the weeks to come.

Bloomberg reports that Microsoft and Ethereum have another agreement, and a major announcement of a new platform application that will again feature Ethereum’s version of blockchain technology is forthcoming. Microsoft, powerful tech companies, and major banking interests are forming what is being called the Enterprise Ethereum Alliance, and this could be a true moonshot for Ethereum’s mainstream adoption and market value.

Bitcoinist_Microsoft Logo

The details and sources are hush-hush, which indicates how big this could be, and is expected to be announced before the end of the month. It’s “smart contract” foundation in creating faster, more secure transactions than is currently used is seen as the main impetus for its ability to create a mainstream corporate alliance.

Apparently, some people know what’s about to happen, as Ethereum values have soared over 60% just since the first of the year, as ETH has gone from under $8 to approaching $13, as of this writing. Something tells me that’s just the beginning of an even greater winning streak for Ethereum.

I’m Not a Financial Advisor, But…..

I did stay at a Holiday Inn Express last night! Therefore, maybe throwing some BTC in on ETH in the short term should be looked into? Sometime around……hmmm…..I don’t know……right now?

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Kudos to all who developed Ethereum and stayed the course. In what is turning out to be an epic comeback story, those who kept the faith late last year in Ethereum seem poised to be handsomely rewarded with their ROI on shares of the world’s greatest altcoin, Etheruem. The altcoin ante has just been upped.

Gonna be difficult to beat a mainstream business and technological alliance with Microsoft as its bedrock, don’t you think?

Will Ethereum make a comeback this year? Share your predictions below! 


Images courtesy of Shutterstock, Miscrosoft, Coinmarketcap, Ethereum.or, Fortune

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