Crypto News: Ripple, Bitcoin, Etherium
As Mark Zuckerberg said, “encryption and cryptocurrency … take power from centralised systems and put it back into people’s hands”.
Cryptocurrency is a peoples revolution. In the same way the internet revolution brought decentralised information transfer, the cryptocurrency revolution breaks the next barrier by bringing us a system of decentralised value transfer, storage and measurement.
Ripple is a digital money transfer system for banks, paired with a cryptocurrency token known as XRP.
Ripple is the big news this morning as the cryptocurrency has a bot of a pull back, Ripple’s XRP has dropped by around 11 percent from its high of $2.12 on Saturday and more than 51 percent from its all time high of $3.84.
Ripple opened at $2.02 today but has since slipped to less than $1.90 and started to recover.
Ripple Labs has now achieved high-profile interest in a relatively short period of time. In 2012, Ripple Labs did a private placement, raising around than $2 million from investors, that reallt paid off for the investors, now Google Ventures and IDG Capital Partners were among those investing undisclosed figures in Ripple Labs. A path G-Bit is now on.
Ethereum has now overtaken as the second biggest cryptocurrency, ETH as it is known has taken a wild ride over the last month but looks to be heading back towards $1500. ETH like the other crytocurrencies took a beating when South Korea suggested they were banning Cryptocurrency trading but later softened their approach.
Etherem has had a solid run of volume and is building momentum once again.
It was a rough week for Bitcoin, exchanges crashed, others were raided and the price slid, that noise seems to have abated now and Bitcoin is looking to rebuild. The biggest issue is the Money Laundering and Tax Evasion accusations that Bitcoin is open too, G-BiT has taken on those challenges and has built an exchange that is compliant.
Bitcoinis still by far the largest and most important currencies in the world, it is not going away anytime soon, expect to see it set new highs in 2018.
Looking for the NextBig Crypto, try G-BiT