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Altcoin News

Rіррlе Hаtе: Iѕ Ripple a Wоlf іn Shеер’ѕ Clоthіng?

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Cryptocurrency purists have always judged new соіnѕ by a fеw іmроrtаnt fасtоrѕ. On top of thаt list has always been dесеntrаlіzаtіоn. Hоwеvеr, one оf thе bigger соіnѕ in the сrурtосurrеnсу mаrkеt hаѕ been hiding іn plain ѕіght with іtѕ сеntrаlіzеd nature. But, its rесеnt bооm thаt ѕаw іt finish last уеаr аѕ оnе оf tор реrfоrmіng crypto аѕѕеtѕ hаѕ seen it garner a lоt оf hate.

 

Whаt is саuѕіng thіѕ Ripple in thе market?

Ripple, a token сrеаtеd bу thе соmраnу of thе ѕаmе nаmе thаt аіmѕ tо fасіlіtаtе trаnѕfеrѕ bеtwееn major fіnаnсіаl соrроrаtіоnѕ. In thіѕ gоаl, it hаѕ ѕееn muсh ѕuссеѕѕ over 2017 with a fеw mаjоr banks partnering with it.

 

Dеѕріtе working wіth central banks, іt іѕ the сеntrаlіzеd nаturе that has mаnу up іn аrmѕ. When thе ѕуѕtеm wаѕ created іn 2013, thе development tеаm rеmоvеd many оf the kеу fеаturеѕ you fіnd іn mоѕt оthеr cryptocurrencies.

 

Thіѕ was done in ѕо thаt thе tоkеn соuld bе gеаrеd towards these major fіnаnсіаl іnѕtіtutіоnѕ, which іѕ fіnе and рrоbаblу nесеѕѕаrу, but іt becomes problematic whеn Rіррlе іѕ соuntеd in thе ѕаmе breath аѕ Bitcoin аnd other very dесеntrаlіzеd dіgіtаl сurrеnсіеѕ.

 

Rіррlе іѕѕuеѕ іtѕ tоkеn in a centralized fаѕhіоn, unlike оthеr соіnѕ whісh are mіnеd аnd іnсеntіvіzеd bу реорlе dеdісаtіng computing power tо accumulate thеm.

 

“It’ѕ nоt a сrурtосurrеnсу”

Mаnу in thе соmmunіtу, іnсludіng сrеаtоrѕ of оthеr соіnѕ, hаvе ѕlаmmеd Rіррlе’ѕ dеfіnіtіоn as a сrурtосurrеnсу.

 

“For the most раrt, I’m not fruѕtrаtеd оr angry wіth Rіррlе, I’m fruѕtrаtеd wіth thе community’s gеnеrаl lасk of knowledge these days (i.e., Rіррlе is a ѕуmрtоm, but nоt thе рrоblеm іtѕеlf),” Rеddіt user thіеflаr, a mоdеrаtоr оf thе Bіtсоіn ѕubrеddіt, tells Invеrѕе.

 

“Thе fact thаt Ripple іѕ lаbеlеd аѕ a “сrурtосurrеnсу” аnd іnсludеd оn ѕіtеѕ like CoinMarketCap hаѕ bееn, for thе most раrt, ѕееn аѕ mіѕlеаdіng and іnассurаtе fоr mаnу years now,” thieflar аddѕ.

 

Mаkіng Rіррlеѕ

Dеѕріtе thе mіxеd оріnіоnѕ оf Rіррlе, it ѕtіll made big gains іn 2017, going uр 36,000 реrсеnt. Thіѕ саuѕеd іt’ѕ mаrkеt cap to рuѕh thе соіn uр to second on Coinmarketcap fоr a реrіоd.

 

However, even thіѕ accolade hаѕ bееn ѕlаmmеd.

“It ѕееmѕ lіkе the multiple-year-long сrурtосurrеnсу bull-mаrkеt eventually rеасhеd a point whеrе newcomers have bееn buying іndіѕсrіmіnаtеlу, nоt understanding аnуthіng about what thеу are buying other thаn ‘іt’ѕ a crypto соіn so уоu саn make mоnеу wіth іt,’ аnd Ripple mаnаgеd tо gеt саught up in thе madness,” thieflar соntіnuеѕ.

 

The rеѕроnѕе?

Intеrеѕtіnglу, Rіррlе іtѕеlf agrees thаt іt ѕhоuld nоt bе bоught indiscriminately to trу and make mоnеу оff the gаіnѕ.

 

“Prіvаtе еxсhаngеѕ аnd lіԛuіdіtу providers mау сhооѕе to hоld additional XRP fоr trаdіng. Rіррlе (thе соmраnу) dоеѕ not рrоmоtе XRP аѕ a ѕресulаtіvе investment,” it іѕ stated іn their gаtеwау guide.

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Altcoin News

Altcoin Awakening: XRP Surges By 15%, Followed By Other Impressive runs

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Altcoin Awakening
The altcoin awakening is real as Ripple's XRP token managed to surge by 15%, followed by many other impressive bullish runs by other cryptocurrencies. What's interesting is the fact that XRP is not the token with the greatest surge. We also have the 10th placed Stellar (XLM) which managed to add 16.82% to its price overnight and balloon to a new price of $0.0686, topping up its gains this year. In the top 10, there are a lot of impressive surges as the altcoin awakening continues. The coming altcoin news start with Ethereum (ETH) which is the second biggest cryptocurrency. As the updates show, ETH managed to add 8.54% to its price and reach $215 which is its price at press time. Next up is Ripple with its 15% gains which stabilized it in the $0.3046 region, followed by Litecoin (LTC) with a 4% rise to $76. EOS managed to add only 1% to its price of $4.11 at press time, while Binance Coin (BNB) triggered a 7% surge and again set foot on $22. Bitcoin SV (BSV) also rose to $127 with a 4.70% increase. The main question right now asked on many altcoin news sites is "what triggered the altcoin awakening?" We can certainly say that this was a rare move as altcoins have taken off today. For the best part of the year, Bitcoin has been ruling the market and as long as the dominant cryptocurrency soared, altcoins followed. Still, the latest cryptocurrency news indicate the opposite right now. It is finally the turn of the altcoins or the "altcoin awakening" as it is decribed everywhere. While altcoins surge, Bitcoin is running out of steam and is just above $10,000. Since XRP has one of the most impressive surges in this new wave of gains, the XRP Army's Reddit account is on fire and featured on many best cryptocurrency news sites. There have been rumors on Twitter indicating a tie up with the San Francisco based blockchain firm and Coinbase, although nothing official has been announced. https://twitter.com/XrpCenter/status/1173131936082137089 As usual, the company is moving tokens around again. This leads to further calls of centralization for the project. The Twitter profile @Whale_alert showed this in a tweet. https://twitter.com/whale_alert/status/1174091681815248901 All in all, the altcoin awakening is real and could continue today. Hopefully, Bitcoin will be triggered by the altcoins as well.
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Altcoin News

Binance.US Begins Registration Today: 13 States Excluded

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Binance
Binance.US which is the United States branch of the major cryptocurrency exchange Binance, has today announced that the opening of accounts registration which is scheduled for Wednesday, will not include the states of New York, Florida and 10 others.
"Launching tomorrow, Binance.US is a fast and secure digital asset marketplace, delivering the world’s leading digital asset trading technology, speed, and experience to everyday users in America," the post said.
According to an official blog post which went viral in the Bitcoin and altcoin news published on September 17, the exchange will start the registration at 8am ET on September 18 in most of the US states. The list will exclude the states of Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington.
“Although it is upsetting that we cannot offer Binance.US in [these] states [...] at this time, please rest assured that this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home,” the post continues.
Once the registration process starts, Binance.US will start accepting inbound transfers for Bitcoin (BTC), Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT) and USD "upon appropriate account verification" as the exchange revealed. According to the announcement, there would be no trading fees until November 1st. A popular question in the coming altcoin news are the trading fees. As Binance.US stated in the post, they are an "independent entity" which means that any of the digital assets held by other trading venues or custody solutions "will not automatically transfer to Binance.US." The fees for personal accounts are 0.10% per trade (flat) which means that if you buy $100 of BTC, the fee will be $0.10. Binance.US also noted that the exchange will be separate from Binance.com since the former is a separate company operated by BAM Trading Services. Currently, US users and their digital assets will also be stored in Binance.US wallets. As many best cryptocurrency news sites reported on September 11, the 24-hour trading volume of major cryptocurrency exchange Binance and its futures markets has exceeded $150 million, all of which was denominated in USDT.
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Altcoin News

Tether’s Burning Of 400M USDT Could Crash The Bitcoin Price

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tether's burning
Tether’s burning of the 400 million USDT tokens could lead to a massive downtrend for the bitcoin price according to the twitter user Whale Alert as we are reading today in our altcoin news. Many of the investors are now fearing that the token burn could crash the price of the number one cryptocurrency since just yesterday, the crypto community found out that the controversial cryptocurrency Tether will burn $400 million worth of USDT. The amount of burnt coins is relatively considerable since the total supply of USDT Is 4.1 billion currently. The tweet sparked fears that the move by tether could affect the Bitcoin price since there is a correlation between the USDT supply change and the bitcoin price movements. More of the USDT coins show there could be an increase in liquidity which usually fuels the bitcoin trading volume and acts as a bullish signal. It is important for the markets not to panic. Tether is simply moving out parts of its coin from Omni to Ethereum. Tether’s burning of the 400 million USDT tokens have the ability to slash the Bitcoin price but the move is part of a swap to Ethereum. Interestingly, the Twitter user mentioned already that this move is a part of a swap and the corresponding burn on Omni still hasn’t happened. However, when the burn took place yesterday, Whale Alert didn’t make the connection and explain why this happened. Tether confirmed that the 400 million USDT burnings were a part of the swap. The problem is that Tether plays with the minting and burning hundreds of tokens just like that and this could seriously affect the bitcoin price. As reported previously in some of the best cryptocurrency news sites, Tether Limited expands and is now cashing in on the sentiment because of the dangers thanks to the gloomy economy which is led by the ongoing US-China trade war which sends the investors choosing safe-haven assets such as Bitcoin. CNHT aims to remove the necessity of exchanging yuan each time when there is a need to purchase or sell bitcoins. It could also provide liquidity between the two currencies because the investors trust Tether for maintaining the 1:1 peg to yuan.
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Wells Fargo Will Launch A New Stabelcoin Cryptocurrency Next Year

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wells fargo will launch
Wells Fargo will launch a new stablecoin cryptocurrency in 2020 as per the announcement the bank made for the latest cryptocurrency news. In a press release published by the fourth-largest institutional bank in the United States, Wells Fargo stated that the new remittance platform will form an international payment network based on the distributed ledger technology. The payments will work based on the dedicated platform and asset called Wells Fargo Digital Cash. The new concept stablecoin will be pegged to the US dollar and first, it will undergo a pilot program for internal transfers in 2020 and in the future multiple applications will use the platform as their basis:
 “We believe DLT holds promise for a variety of use cases, and we’re energized to take this significant step in applying the technology to banking in a material and scalable way. Wells Fargo Digital Cash has the potential to enable Wells Fargo to remove barriers to real-time financial interactions across multiple accounts in multiple marketplaces around the world.”
Wells Fargo will launch its stablecoin after the largest bank in the United States JPMorgan Chase announced the launch of their own digital currency as a solution to changes in the global financial space. JPMorgan’s coin saw some mixed reactions on the announcement which was made earlier this year. The stance that both banks have is based on the decentralized cryptocurrencies. At many points, the executives have issued warnings about the dangers of using innovations and the control of the fiat-based financial system. Wells Fargo made it to the headlines after it confirmed it was refusing to allow some of the domestic banking customers to use cryptocurrencies and conduct crypto-related transactions. One of the officials of the bank pointed out:
 “Unfortunately, Wells Fargo does not allow transactions involving cryptocurrency. As a result of the increasing digitization of banking services globally, we see a growing demand to further reduce friction regarding traditional borders, and today’s technology puts us in a strong position to do that.’’
As per the announcement in the coming altcoin news, the governments and central banks are still drawing lines as to what the iterations of cryptocurrency are acceptable. Facebook’s Libra crypto project is also set to release in 2020 so a lot of interesting crypto projects are preparing for next year.
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