Ripple was among the coins that suffered the most this year when the demand for cryptocurrencies decreased but reaching today’s crypto news, Ripple is proclaimed to be the best performing coin for September.
The market cap of Ripple surged by 67%, mostly because of huge industrial announcements, FOMO and many other important factors. Also, this month Ripple was one of the coins that recorded the least losses. Going back to Bitcoin, its market cap value dropped by 8 percent and Ethereum even fell even further by 22%.
Interestingly enough, Stellar which is a huge competition to Ripple was also one of the coins that recorded great increase. Stellar’s market price jumped to more than 14 percent. On the other hand, XRP established a bottom range in mid-August around 0.25$ and tested this level later in September forming a stable level at $0.35.
The price movements started shortly after Ripple CEO announced the plan of expansion of RippleNet-the international payment service. Last year in October, the price of XRP also surged by more than 28 percent after Ripple added a new partner to the RippleNet service. Ripple does a great strategic job by partnering with other tech or financial giants such as the latest partnership with the US-based PNC bank.
It’s important to note that analysts believe that strategic partnerships are influencing the price of XRP and also draw attention to traders and making them buying tokens because of the fear of FOMO. XRP found its support level despite today being in the red zone, dropping by 5.44% and it’s currently at $0.55 at the time of writing.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
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‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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