Crypto Spotlight: Ripple Surges in 2018
At the end of 2016, the value of all crypto coins was valued at nearly $17.5 billion.
As of the end of 2017, the combined valued of 1,370 coins had a value of $605 billion.
And to be very honest, the boom shows no signs of slowing down.
Look at the Bitcoin for example, which is largely credited for the current rally.
In January 2013, it priced at just $13.36. It’s now up to $14,780, a win of 110,529%. And while it’s one of the hottest crypto currencies on the market, it’s not the only one seeing monstrous wins over the last several years.
- Ethereum was another big winner. In September 2015, it was valued at just 68 cents. It’s now up to $918.99 for a win of 135,046%.
- Ripple jumped from $0.0057 in February 2017 to $3.28, or 57,444%.
- NEM soared from $0.0517 in May 2017 to $1.56
- DASH jumped from $134 to $1,146
- Litecoin jumped from $4.25 to $248
- Verge jumped from $0.0055 to $0.1453
- IOTA jumped from $0.16 to $4.12
Again, the boom shows no signs of slowing even after such impressive rallies.
These days, investors are jumping into anything remotely related to crypto currencies, including coins and stocks, like Marathon Patent Group (MARA).
Marathon Patent Group acquires and monetizes patents primarily in the United States. The company is involved in the acquisition of patents and patent rights from their owners ranging from individual inventors to Fortune 500 companies; and monetization of its patents and patent rights by entering into license discussions. What’s interesting about MARA is that it just entered into a definitive purchase agreement to acquire 100% ownership of Global Bit Ventures Inc. (GBV), a digital asset technology company that mines crypto currencies. GBV has robust infrastructure in place with significant capability for expansion.
Even billionaires are jumping on board with one predicting that cryptocurrencies could be valued at more than $5 trillion by 2021, such as billionaire Michael Novogratz.
“Ten percent of my net worth is in this space. It’s the ‘best investment of my life,’” he says, as quoted by Coin Telegraph. “The Nasdaq got to $5.4 trillion in 1999, why couldn’t it be as big? There’s so much human capital and real money being poured into the space and we’re at a takeoff point.”
Former PayPal COO David Sacks recently tweeted that such currency is the “best candidate we’ve had in awhile for Web 3.0.”
The beauty of it for investors -- there is no bank or government involvement. There are no transaction fees and no real reason to give your actual name. Better yet, merchants around the world are just beginning to accept them, including web hosting to pizza and manicures.
It’s just about revolutionized transactions.
So much so that the number of businesses accepting crypto currency is growing by leaps and bounces. Microsoft, Intuit, PayPal, Dish Network, and Overstock.com are some of the biggest. At Microsoft for example, you can buy content in the Windows and Xbox stories. The company was even behind the launch of Azure Block Chain as a platform that allowed larger-scale businesses to use block chain to facilitate settlements.
Clearly, it’s popular. And it’s likely to continue fueling a multi-year boom.
One of the top ones to watch for 2018 is Ripple.
Ripple launched in 2012 to facilitate global financial transactions and already has connections with legitimate banks, like Santander, Bank of America and UBS. In recent weeks, financial firms in Japan and South Korea have adopted it, too, helping to boost its valuation.
While Ripple has already exploded by more than 35,000% since the start of 2017, there’s still a good amount of potential upside. Here’s why.
According to Interesting Engineering:
According to the Mckinsey Global Payments Industry Study, in 2016 over $155 trillion was sent across borders. Any consumer will tell you that sending money across seas can be pricey, slow, and even risky at times. The problems do not just stop at the consumer level. Banks deal with issues too. Even more so, problems like money laundering, thievery, and fraud are all major points of concern. Ripple aims to combat some of these issues. In short, Ripple connects payment providers, banks, and any other asset exchanges via its RippleNet to provide "one frictionless experience to send money globally." The digital network has already been adopted by hedge funds, financial institutions, and banks. These companies believe that Ripple is far more secure than Bitcoin and other popular cryptocurrencies currently on the market. XRP is where things really get exciting. The digital asset XRP is what is used for payments on the ripple network. The cryptocurrency allows for a reliable, on-demand way to source liquidity for cross-border payments without the use of nostro accounts. Even more so, XRP allows the users to easily access and send assets to new foreign markets at a lower foreign exchange cost. Compared to other cryptocurrencies, whereas they may take hours, XRP only takes approximately 4 seconds to settle a payment.
That alone makes Ripple well worth paying attention to in 2018.
From the looks of it, the crypto boom may be here to stay for quite some time.