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New token Makes Unprecedented Gains after Binance Listing

Coinmarketcap.com has a new listing in its top 100. As of Sunday, Ravencoin has been occupying the 58th spot thanks to a Binance listing and has sustained a growth of 118% since that announcement.

Within ten days, the coin has grown its market cap from $212,000 to $49 million! This is a rather unbelievable rise of 23,000%.

In the last 24 hours alone, the coin has grown by 55%. It is now selling at $0.056.

About Ravencoin

If we look at its chart, Ravencoin obviously went relatively unnoticed until its Binance listing. But what is Ravencoin? And why did Binance take an interest?

Well, the coin has been around since 2017, and it is about to mark its one-year anniversary with an upcoming mainnet launch on October 31st.

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The Ravencoin protocol is open-source and available to the public. Built off of a Bitcoin fork, it has a focus on the creation of digital assets on its Proof-of-Work (PoW) blockchain. According to its official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

Humble Beginnings

With no ICO, the project was built up by a small team of dedicated people. Because of this, CEO of Binance, Changpeng Zhao, allowed the project to list without any listing fees. It began trading on October 12th, and over 85% of its growth has come from Binance trades since.

“The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.”

Binance is the world’s top exchange with the highest trading volume.

No coin has seen gains like this since Bitcoin’s demise last year. Will the gains continue, is the question? Would you invest in Ravencoin?

The most humble of acorns may prove to be the most fruitful yet; let’s keep our eye on this one!

Featured Image: Depositphotos/© tomwang

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EOS, TRON (TRX), and Litecoin (LTC) Updates

The cryptocurrency market is trading mostly in the red this Friday morning. Most coins in the top 10 cryptocurrencies are either just above the percentage gains threshold or just below. EOS and TRON (TRX) are currently in the green, but Litecoin (LTC) is trading down.

Let’s take a closer look at these projects and their latest movements.

EOS

Recently, the official ‘EOS’ Twitter name was changed to Block.one. Block.one is the blockchain-based company that formed EOS. The company must be taking bets that most people truly interested in EOS know about Block.one, but I’m sure those new to the crypto community might get a bit confused.

However, in 2018 it seems the diehard crypto-loyalists are the only ones who have stuck around since the crypto rise and fall in January.

Recently, Block.one announced the location and date of the EOS Global Hackathon Grand Finale.

The grand finale will be held on December 7th, in Cape Town, South Africa.

>> EOS Gambling Platforms Hacked

TRON (TRX)

There has been lots of movement over at the TRON Foundation as of late. Since it acquired BitTorrent, the companies have formed a new web-based torrent streaming client called μTorrent.

It seems μTorrent Web currently has over one million active users already and the company announced that BitTorrent Web will be live soon. In addition to its BitTorrent movement, TRON has been expanding on exchanges.

On Bitfinex, users can now trade for TRX with JPY, GBP, and the EUR—making it far more accessible to those around the globe.

Litecoin (LTC)

Litecoin will be celebrating its seventh birthday coming up on October 13th. That same day, LTC will be added to Gemini’s exchange.

In mid-September, LTC was added to the Canadian exchange Coinut. Later this month, Litecoin Founder Charlie Lee will be attending and speaking at the World Crypto Conference in Las Vegas.

Tickets are still available for purchase if you would like to meet him in person.

EOS, TRON (TRX), and Litecoin (LTC) Price Movement

According to CoinMarketCap, EOS is currently trading at $5.74 a coin, up 0.99% in 24 hours. EOS still remains the fifth largest cryptocurrency by its total market cap.

TRX is currently trading at $0.0231 a coin, up 5.20% in 24 hours. TRON is currently the 12th largest cryptocurrency by its total market cap.

According to CoinMarketCap, LTC is currently trading at $58.18 a coin, down -0.59% in 24 hours. Litecoin remains the seventh largest cryptocurrency by its total market cap.

Featured Image: Depositphotos/© Wavebreakmedia

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Eternal Token | What is It and Why is It Up 42% Today?

What is Eternal Token (XET)? Where did it come from? And how has it grown so much so fast?

When a coin makes gains of 42% in a 24-hour period, it piques your interest. It doesn’t matter if it doesn’t sit within the cryptocurrency top ten, such massive gains in such a short period of time warrants investigation. So what exactly is Eternal Token (XET)?

Let’s find out.

Eternal Token

Eternal Token is new. Very new. It was created in June of this year and began listing on Coinmarketcap.com in August. It currently ranks as the 50th top coin in the world.

At its birth, it was valued at $0.072 per coin, however, in the last week, something very exciting has happened with this coin. In general, the token has gained more than 640% in a 4-day period, and now, XET will cost you $2.38 per coin.

But let’s take a look at the technicals first. What is Eternal Token?

The Technicals

  • Eternal Token (XET) is a proxy token that can be exchanged with Eternal Coin (XEC).
  • Eternal Coin (XEC) is a digital currency, but it is controlled by Japanese Atom Solutions at a ratio of 1:10.
  • Therefore, XEC is not a decentralized coin alá Bitcoin or Ethereum but rather is centralized.
  • XET, when exchanged with XEC, can then be exchanged with regular cryptocurrencies.
  • XEC can’t be acquired via any unauthorized exchanges throughout the world.
  • To solve this, XET has been developed to be listed and tradable with various currencies on global exchanges.

So, in layman’s terms, Eternal Token was developed to solve the disadvantage of XEC being centralized and allow it to be exchanged with other cryptocurrencies.

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Eternal Wallet

Where Eternal Token gets very interesting is the fact that the Eternal Coin is a necessary feature of Eternal Wallet.

This wallet allows fiat-to-fiat currency exchanges with the touch of a button.

A user can convert their local fiat currency to the fiat currency used by a receiving user through Eternal Coin, sending money in the desired currency instantly.

The token aims to solve cross-border payments while being backed by a centralized company ensuring security.

Eternal Token Growth

So looking back to the exponential growth of this coin. What are the reasons for it? A recent signing with blockchain-based company Eternal Wallet PH Holdings in the Phillippines may be the catalyst. This partnership will allow Eternal Token to acquire a virtual currency exchange license in that country.

Such gains may cause skepticism for some. Only time will tell whether this token will prove its mettle.

Featured Image: Depositphotos/© uroszunic

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BCH Price Rally | Is the Bitmain IPO Causing the Bitcoin Cash Rise?

Hold onto your hats folks! There is a BCH price rally happening right now! But why!?

The coin has rallied almost 30% at the time of writing; according to coinmarketcap.com, BCH is currently up 28.94%. Are we seeing a repeat of what Ripple (XRP) accomplished last week?

BCH Price Rally: Is Bitmain the Cause?

So without a doubt, BCH is the best performing coin on the market right now. Analysts are attributing the BCH price rally to the successful IPO filing of Bitmain with the Stock Exchange of Hong Kong Limited.

Mati Greenspan, the senior market analyst for social trading platform eToro, said the following: “This spike was definitely caused by Bitmain’s IPO filing.”

Bitmain IPO

So how come Bitmain news is causing a BCH price rally?

Back in August, a Bitmain investor deck was leaked to the public. Thanks to this, the public got an eyeful of Bitmain’s holdings in various cryptocurrencies including Ethereum, Bitcoin and… Bitcoin Cash.

The investor deck showcased that Bitmain has held over 1 million Bitcoin Cash since late 2017. This amount accounts for nearly 6% of the entire circulating supply of BCH and was considered “a very powerful statement that they have skin in the game and put their money where their mouth is.”

Baring in mind that Bitmain is one of the largest digital currency miners in the world, this makes a BCH price rally plausible.

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Concern Grew

However, holding such a large amount worried investors, and rumors circulated citing liquidation concerns. Speculation grew about the IPO of Bitmain and “whether the conglomerate will be able to successfully conduct the public offering of its equity.”

But the successful filing of the IPO yesterday has allayed those concerns. The miner filed a prospectus for the offering, showing its intention to offer securities to the public, according to CoinDesk.

The BCH price rally has been an immediate indication of investors’ excitement for this news. BCH is currently trading at $580.63. At the close yesterday, that figure was $447.77.

Featured Image: Depositphotos/© SectoR_2010

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Cryptos in Red | Ethereum (ETH), Ripple (XRP), and Stellar (XLM)

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further 10.32% drop. It is now practically at the same level it was before it began climbing last week. No exact catalyst is driving ETH price today, more than likely this fall is the “must come down” part of the phrase that starts with “What goes up…

Cryptos in Red: Ripple (XRP)

It was inevitable that Ripple would not be able to maintain such highs.

Let’s recap last week: last week, Ripple doubled its value in a 48-hour period. It hit a height it had never hit before—$0.69, which meant the coin had grown over 100%. The reason for the XRP price explosion could be attributed to Ripple Lab’s unveiling that its xRapid project could debut within a month. This seemed to spur on a rally. Importantly it had a knock-on effect on the market; cryptos were green across the board.

But alas, our biggest gainer then is our biggest loser now. XRP has lost 14.43% in the last 24-hours. However, if it can level off sooner rather than later, the coin will still have gained overall this month. Let’s hope investors keep hodling.

Cryptos in Red: Stellar (XLM)

Stellar tends to follow closely behind Ripple trends. Today is no different. The coin is currently down 10.71% and appears to be losing more. It did grow exponentially last week keeping closely by Ripple’s side so can it pare any of these losses?

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Back in March, Stellar announced it would be implementing the Lightning protocol this December. According to the team, it is still on track for that deadline, and this news should excite investors. The Lightning protocol is deemed to be the best long-term solution for scalability on its network. Stellar wants to improve the user’s experience in terms of speed, throughput, and privacy/security.

It seems like crypto is playing a cruel trick sometimes. It seems inevitable that when cryptos go green, there will soon be cryptos in red.

Featured Image: Depositphotos/© Paulpaladin

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