Newsflash: 3 billion XRP released in last quarter, Coinbase to go IPO and overall market to reach $ 1.4 trillion
While the market decided to continue it’s pre-winter slumber, the news cycle was certainly up and about. There were several interesting stories we singled out for you today, and surprisingly none of them were that bad. Take a quick gander below:
- Ripple releases XRP market report for Q3 of 2018, reveals interesting information
Released on ripple.com, the report was written by Cory Johnson, Ripple’s chief marketing strategist and Miguel Vias, head of XRP markets.
The report revealed that Ripple sold $163 million worth of XRP during the quarter which brought about rising volatility and volume.
$65.27 million of the number above were sold by Ripple and XRP II, LLC — a Ripple subsidiary that is a registered and licensed money service business (MSB) — additionally sold $98.06 million worth of XRP in institutional direct sales. The total amount sold represented 0.43 percent of global XRP volume.
There were movements in the XRP escrow, as 3 billion XRP was released per smart contract details. Out of that, the company returned 2.6 billion into escrow contracts and kept 400 million for supporting the XRP ecosystem.
- Blockfolio 2.0 launches
Blockfolio team has spent the last six months on rethinking and rebuilding their cryptocurrency tracking application. The app was rebuilt from the ground up and the process was apparently successful as Blockfolio 2.0 officially became available on Android phones.
The application’s interface has been redesigned to offer a “fresh and clean” look and create an interface that will be “intuitive and beautiful” at the same time. Light/dark modes are available, as it’s becoming a standard in the business of creating user interfaces.
New features of the application include tracking your holdings across an unlimited number of portfolios for free, color-customizable portfolios, readjusted Signal feed, and numerous enhancements to the app’s price and portfolio tracking functionality and speed.
Blockfolio promises that new features, including exchange and wallet integration, will be introduced “soon”. The app will be available on iOS a day after its Android launch.
- Crypto markets predicted to grow by 6.18% annually
MarketsandMarkets, a start-up focused on providing “quantified B2B research” on potential market opportunities/threats, released a report titled “Cryptocurrency Market by Offering (Hardware: GPU, FPGA, ASIC, & Wallet, and Software), Process (Mining and Transaction), Type, Application (Trading, Remittance, Payment: Peer-to-Peer Payment, Ecommerce, and Retail), and Geography – Global Forecast to 2024.”
The study was made to forecast the cryptocurrency market in terms of value, determine factors that will make it grow/shrink and profile key players and potential market leaders of the landscape.
“The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market,” says the project’s publication.
Overall, MarketsandMarkets revealed that there are several elements which will drive the market dynamics in positive direction:
- Transparency of distributed ledger technology
- High remittances in developing countries
- High cost of cross-border remittance
- Fluctuations in monetary regulations
- Growth in venture capital investments
Combining these positives with potential restraints, opportunities and challenges that the world of crypto faces in the upcoming period, MarketsandMarkets determined that overall cryptocurrency market is expected to reach a cap of 1.40 trillion USD by 2024, with an average annual growth rate of 6.18%. Check out the complete report above.
- Coinbase Will Soon Announce Its First IPO?
Ran Neuner, host of the Crypto Trader show on CNBC Africa, also known as @cryptomanran on Twitter, recently came out on air with some interesting claims.
According to him, Coinbase is getting ready to announce its first initial public offering or IPO.
https://twitter.com/cryptomanran/status/1055343173600403456
The news will be revealed during the CNBC’s Cryptotrader show in an exclusive interview.
Coinbase has shown its interest into organizing an IPO before. Asiff Hirji, Coinbase’s president, previously said the following about his company going public:
“It is certainly in the interest of our investors…and the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is.”
