- The market slumps back in the red as crypto whales do what they do best.
- Ripple moves 73,200,000 XRP to an unknown wallet.
- Bitcoin whales send huge amounts of BTC to Bittrex, Binance, Bitfinex, and Huobi.
The cryptocurrency market is back in the red following three days of significant gains and breaking of barriers to the upside. Bitcoin recovered above $4,000 on various cryptocurrency exchanges. However, the largest asset by market capitalization has corrected lower to the current value at $3,928. Besides, the cryptocurrency live rates on FXStreet show Bitcoin trending 0.3% down today.
Recently, there has been an emergence of a special group of experts referred to as crypto whale watches. These experts monitor transactions in the cryptocurrency universe to spot massive movement of digital funds from different exchanges and wallets.
As the market retraces, the above-mentioned crypto whale watchers are currently involved in monitoring the transfer of millions of funds in XRP. The startup based in San Francisco has transferred over 73,200,000 XRP; an equivalent of $23.9 million. The lasts transaction involved the transfer of 47,200,000 XRP. The funds which clock $15.7 million were sent from a known over-the-counter Ripple distribution wallet to one that is not known. This could mean that Ripple could have sold the tokens to an outside party. The firm sells the tokens it has in reserve from time to time to cater for operation costs.
“47,200,000 #XRP (15,795,851 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet,” Whale Alert.
Elsewhere in the market, Bitcoin whales are reported to have transferred 12,300 BTC. The transaction worth $48.7 million was made yesterday. A majority of the wallets that were used to make the transfer were unknown but the funds were sent to Bitfinex.
Tron whales, on the other hand, have not been left behind. In the last few days, they have transferred at least 409,499,944 TRX worth $10.2 million. The funds were sent to several crypto exchanges including Bittrex, Binance, Bitfinex, and Huobi.
Holo Price Begins Moving up Again as $0.0012 Acts as Solid Support
When looking across all cryptocurrencies, tokens, and digital assets, things are looking pretty interesting right now. Some markets note massive gains, whereas others are still on wobbly legs. Contrary to what most expected, the Holo price is not moving up a decisive manner at this stage. Although the current trend is not necessarily worrisome as of yet, finding a new foothold is not all that easy.
Holo Price Tries to Remain Above $0.0012
It is commendable to see all markets carve out a path for their own these days. While most of them will continue to rely on Bitcoin first and foremost, some are doing so in a less tedious manner than others. Holo often seems to be doing its own thing regardless of the overall trend, albeit today may be a slightly different trend. Its current value sits just above $0.0012m yet it remains to be seen if that level can be maintained after all.
Over the past few hours, the Holo price has noted a minor 1.85% gain to keep the USD value at $0.001207. In terms of BTC and ETH value, the gains are less spectacular, at 0.91% and 0.92% respectively. It is evident there is seemingly a lack of desire to keep this uptrend going for very long, albeit some slow and steady gains would not be all that bad for this currency either. It is a healthy change of pace from its massive gains and subsequent losses.
Regardless of what might be happening behind the scenes of Holo and Holochain, most people simply care about the price. Especially the Turkish traders are smitten by this market and they expect some pretty big gains to materialize in the coming weeks and months. As is always the case where altcoin markets are concerned, anything is possible, yet nothing is ever set in stone.
R.P. Is another trader who mainly wants to see the value of HOT take off in quick succession. Expecting a massive bull run before the Summer seems a bit too optimistic at this time, primarily because there is nothing which warrants an industry-wide bull run at this time. That situation may come to change in the near future, though, but it will mainly depend on Bitcoin to make big things happen.
— R. P. (@RomanPov1) March 20, 2019
Leave it up to altcoin traders to be excited at all times and see any possible opportunity as a way to strike it rich. Frank is looking forward to what will come next for Holochain in the coming weeks and months. There is still plenty of work to be done prior to ensuring Holo becomes mainstream in any convincing way, but things are seemingly moving in the right direction. That wouldn’t necessarily impact the HOT price in any way, though.
— Frank (@HOLOCHAIN_Sith) March 21, 2019
Top 3 Cryptos to Serve as an Alternative to Bitcoin
The crypto market continues to struggle on its way of reaching mass adoption, with most people focusing on Bitcoin. However, Bitcoin still has its fair share of problems, a few of which are quite challenging, with no guarantee that they will ever be fully solved.
While Bitcoin is, and has been the largest cryptocurrency from the moment it was created, there is no guarantee that it will remain at the number one spot forever. While this is mostly what skeptics tend to say, it is still a possibility that cannot be ignored. With that in mind, here are top 3 cryptos that might serve as an alternative to Bitcoin in the future, or maybe even now, considering how high its fees are, and how long its waiting periods tend to be.
XRPhas become known as a ‘remittance coin’ due to its goal of providing better, faster, and cheaper international transactions. It was created by a company called Ripple Labs, and so far, it has been one of the best ways for sending money cross-border. It works in combination with Ripple’s products such as xRapid, fueling it and allowing for near-instant transactions at low fees.
The company has decided to offer its products to banks around the world, and most of the financial institutions decided to accept the offer. This is their way of trying to remain relevant in the world that is rapidly turning towards crypto, rather than continuing to use old, outdated systems. Of course, due to its connection to Ripple Labs and banks, many view XRP as fake crypto, a centralized coin, or even a scam. However, these are mostly speculations, and Ripple claims that XRP can continue its existence even if the company were to disappear. Whether or not this is true, XRP is certainly highly scalable and a great solution for sending cash cross-border.
2. Stellar (XLM)
Stellar comes as an alternative to XRP and BTC alike. It is actually very similar to XRP in the sense that it provides an extremely fast way to settle international transactions. However, there is one large difference, which lies in the fact that Stellar is offering its services to individuals directly, where XRP offers its services to the banks.
Stellar is one of the fastest coins on the market, and it is fully decentralized, so there is not even a hint of danger that a third party might meddle with their transactions. Because of this, many in the crypto community see XLM as a better coin than XRP and even its greatest rival. However you choose to look at it, it is a fast, scalable, decentralized payment method which can certainly do what Bitcoin does, only much faster.
3. Litecoin (LTC)
Finally, there is Litecoin, which is a coin coming from the Bitcoin family, as it forked from Bitcoin back in 2011. The coin’s developers realized that the issues Bitcoin is facing might never be resolved, and even if they did — it would likely take years. It turned out that they were right, as BTC still faces a lot of the same issues even now, eight years after the fork.
Meanwhile, Litecoin dedicated its efforts to improve, becoming just as capable P2P payment facilitator as BTC. However, its features a much faster block-processing rate, which keeps its miners not only intrigued, but also properly rewarded for their efforts. Its PoW algorithm is believed to be more decentralized than that of Bitcoin, and it also implemented the SegWit upgrade, which improves blockchain capacity, while reducing fees and settlement times.
Why HODLing XRP, BAT, and EOS is a Smart Idea
The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.
Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’
However, there are several coins out there which are worthy of investing in, as well as HODLing on to them. Three such coins that we will focus on today are XRP, Basic Attention Token (BAT), and EOS.
Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project. However, Ripple Labs continues to deny having authority over XRP and its network, and over time, they distanced themselves from the coin, proving that it can actually exist without the company’s support.
Meanwhile, XRP remains a coin that fuels the company’s products such as xRapid, and this is where its main use case lies. xRapid, as well as several other Ripple products, have a very important use case, and that is the ability to send international payments almost instantly. This is a massive step up from old technologies used for sending cross-border payments, which often result in days of waiting for the transaction to get completed, as well as large fees.
Because of this, XRP has earned itself a name of ‘remittance coin,’ and banks around the world have started accepting it as one of the main components of xRapid. Because of this, holding XRP may be a very smart decision, as the coin is bound to eventually grow in price and become one of the most used cryptocurrencies in the market.
Basic Attention Token, or BAT, is a coin that aims to disrupt the way online advertising works. The coin is the main component of Brave browser, an internet browser which blocks ads and trackers by default, allowing users to choose to view ads when they themselves want to. In exchange, they are rewarded with a certain amount of BAT tokens.
This system has the potential to completely change advertising, and take the power away from intermediaries such as social media networks. These are the websites to which companies need to turn to and pay massive amounts in order for their ads to be displayed. Meanwhile, those ads are not what the users want, so they use ad-blockers and similar devices, meaning that the companies are wasting large amounts of money with no returns, while mediators such as Facebook and other similar firms take all the profit.
Brave and BAT will bring companies in direct connection with the internet users, and allow them to get direct feedback. Meanwhile, as mentioned, users have an actual incentive to view ads, as they themselves are getting paid for doing so and providing valuable feedback. With such a large potential to impact advertising, BAT is bound to be one of the big coins in the future, and it is more than worth having it now.
Finally, there is EOS. EOS is a development platform as much as a cryptocurrency, and similarly to Ethereum, it allows developers to create smart contracts, decentralized applications, and even new tokens. Because of this, EOS is often considered to be a potential Ethereum Killer, as it does the same thing as Ethereum, only faster and better.
However, EOS had some problems during the launch of its MainNet, as well as later on, which have made it somewhat controversial, and there are many who believe that Ethereum is still a better choice.
But, EOS seems to have resolved its issues, and it also created a number of interesting dApps, although none of them have yet earned the name of ‘Killer dApp.’ Eventually, one such app will likely appear, and it will potentially have millions of users. When that time comes, those HODLing EOS might wake up to a massive surge in the coin’s price, which is why it might be smart to invest in it early.