Globalcoin, An XRP Killer?
Facebook’s soon-to-launch crypto asset has been called many things: a Bitcoin-killer; regulators’ Trojan horse into the cryptocurrency space; and a ploy to make George Orwell’s “1984” a reality are among what some pundits have deemed the asset. Today, another pseudonym has been attributed to the technology giant’s cryptocurrency, rumored to be a stablecoin meant for the company’s billions of clients. This pseudonym, according to Bitcoin bull Max Keiser, is an XRP-killer.
On Twitter this week, the long-time anti-establishment figure, known for his segment on RT, claimed that Facebook’s digital asset, dubbed “Globalcoin” according to some reports, “obviates [the] need for hundreds of alt-cons including XRP.” Keiser goes on to state that the altcoin apocalypse is nigh, looking to the fact that Globalcoin will likely decimate any need for any other digital medium of exchange, save for Bitcoin, which also acts as a store of value.
Although the white paper for Facebook’s project has yet to be released, many speculate that it will act as an easy-to-use stable medium of exchange. It isn’t clear whether or not Globalcoin will be used in a banking setting, just as XRP is trying to, but it likely sure could, especially considering that preliminary reports state that operators of Facebook’s nodes will need to pay $10 million.
How Facebook Could Boost Bitcoin
In a tweet storm, Paul explained that while centralized cryptocurrencies are inherently “uninteresting” to fervent crypto crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems, they will directly “increase global interest dramatically.”
Laying out a hypothetical scenario, the BlockTower chief investment officer notes that 30 million of Facebookcoin users (10% of Paul’s hypothetical audience of 300 million) could eventually “stumble across Bitcoin,” meaning that the (decentralized) cryptocurrency’s community would double in size, no questions asked. Not only would this bolster adoption, but this influx of users would also increase Bitcoin’s network effects, thus increasing the value of BTC.
6 top Altcoins Rising Alongside Bitcoin This Weekend
Now that Bitcoin has finally found its upward momentum once again, all eyes are on the altcoins to determine which markets will see big gains. So far, it remains to be seen how things will evolve, albeit some markets are going on a massive spree right now. The following coins all show tremendous potential in that regard, assuming this uptrend can remain intact.
EOS GAINS OVER 7.5%
It is always worthwhile to check the different altcoins and how their individual value tends to move accordingly. In the case of EOS, today has proven to be a rather good day, following a strong 7.285 increase in value. It is not sufficient to dethrone Bitcoin Cash in the market cap top 5 as of yet, albeit it seems these correlations will continue to fluctuate for quite some time to come.
BITCOIN SV CONTINUES THE UPTREND
The past few weeks have shown the world Bitcoin SV is far from a defunct project. At least where its market value is concerned, things look very promising for speculators and hopefuls. With another 8.89% increase in value in the books for today, this altcoin managed to create some distance between itself and Tether. Very interesting statistics to keep an eye on, for rather obvious reasons.
BITCOIN CASH GETS A STRONG PUSH
It is not uncommon to see all currencies with Bitcoin in the name to get a push when the world’s leading cryptocurrency is on the rise. Bitcoin Cash has also managed to gain just under 10% in the past 24 hours, albeit it seems its value may struggle a bit to reach $500 in the hours and days to come. It is not unlikely that price point will be reached, albeit these markets are still in rather uncertain territory right now.
TRON INCHES AHEAD ONCE AGAIN
It is rather interesting to see how the current Bitcoin momentum affects markets outside the top 10. Tron, while still incredibly popular, has slipped to position #12 on the rankings, yet today’s 9.81% gain shows there is still some room for improvement. It wouldn’t take much more effort to enter the top 10 again.
ONTOLOGY SURPASSES $1.5 AGAIN
While most people tend to overlook anything outside of the market cap top 15, Ontology has had a pretty good year so far. It too gained quite a bit of value, as an 11.92% increase in price took place just today. This also pushes the value per ONT to over $1.57 again, which is something most holders and speculators will certainly appreciate. Sustaining this growth is a different matter altogether.
NEO IS THE BIG WINNER SO FAR
Surprisingly, it would appear NEO is the biggest gainer of the entire top 25 right now. This comes as a big surprise, as no one really expected a 22.45% increase in just 24 hours. Such steep gains could indicate NEO will see a rather steep retrace in the hours and days to come as well, although it is still too early to draw any real conclusions in that regard.
The Relative Performance Of Altcoins Versus Bitcoin For The Past 2 Years
As everyone can agree, Bitcoin is the top and most valuable cryptocurrency in existence, and its price movements have always had an effect on the rest of the market. Just recently, Bitcoin price has surged to unexpected heights, prompting the whole market to shift and end the long crypto winter.
However, that’s not to say that Bitcoin has been the most profit-bringing investment, especially for the last 3 years. Far from it. A recent summary shows data indicating the performance of the top altcoins with respect to Bitcoin for the last 3 years ending on 31st May 2019. The results are astonishing.
Binance Coin Has Topped
Turns out, Binance Coin has been one of the most active cryptos in terms of price movement. In 2017, BNB came third behind Stellar (XML) and Ethereum (ETH), scoring a cool 6,238% price increase.
LTC, XRP, ADA, and TRX followed at positions 4,5,6, and 7 respectively. In 2018, things got hotter for BNB as the crypto topped the charts with more than 44% surge. TRX and XLM came in second and third with 12% and 7% respectively.
2019 was even better. Binance Coin (BNB), once again topped the charts at a whole 307% increase, LTC and EOS grabbing the second and third positions with 164% and 64% respectively.
Of the 2 years, 2017 was the year for XRP. A look at the chart shared by the ‘Maker Princes’ shows a 33,117% spike for XRP back in 2017, making it the best performing crypto that year, but lost over 12% and 82% in 2018 and 2019 respectively.
One crypto fan sought to enquire on what could be expected of XRP by end of this year. Replying to that, the Maker Princes was quick to note that at the moment, no one really knows. However, a lot of people seemed very positive. Even Binance’s own Changpeng Zhao expressed his optimism, citing social norms.
United States Residents Will Lose Access to Many Altcoins Starting in September
Crypto enthusiasts living in the United States will have no trading options for a many cryptocurrencies when the major crypto exchange Binance becomes unavailable for them in September, according to a report by CryptoPotato on June 14.
The foregoing exchanges listed are Coinbase, Bittrex, Poloniex, Kraken, HuobiUS, and eToro.
The report also highlights that, in addition to the cryptocurrencies with no trading outlet in the U.S.—the all-white rows—there are also a number of tokens listed on only one exchange after Binance drops off, including ARK, BTT, IOTA, PIVX, and ZIL.
These “endangered” exchange tokens, as well as the (temporarily) extinct tokens, will likely witness a large drop in volume, according to the report.
However, veteran cryptocurrencies such as XRP, DASH, XLM, ETC, ZRX, and ZEN should survive Binance’s departure with little issue, since they are listed on four or more of the aforementioned exchanges.
Binance CEO Changpeng Zhao (CZ) remarked on the recent changes, implying that the restructuring will be useful in the long run:
“Some short term pains may be necessary for long term gains. And we always work hard to turn every short term pain into a long term gain.”source:.fxstreet