Both rely on the distributed ledger system, and both facilitate easy payments.Īs Mary Ann Callahan highlights, one key difference is that Ripple and XRP are more geared to banks. Lumen and XRP both aim to solve parts of this problem. Not only is it expensive, but it can be tricky to navigate and time consuming. As financial institutions stand right now, it can be difficult to transfer money across country borders. And even beyond that, both have a similar mission. To start, the project shares co-founder Jed McCaleb with Ripple and its crypto, XRP (CCC: XRP). The story with Stellar and Lumen (CCC: XLM), its native cryptocurrency, is very interesting. If that happens, Cardano is certainly one to watch. Therefore, he predicts that an altcoin will soon dethrone Bitcoin as the leading cryptocurrency. By contrast, Hoskinson thinks altcoins like his Cardano offer more in terms of tech. In other words, as a crypto, it does not have that much going for it. In a recent interview, Hoskinson said that Bitcoin is only so successful because of its popularity. Plus, Charles Hoskinson, the founder of Cardano, thinks some pretty big things are in store for ADA. This comes as more and more mainstream consumers look for DeFi solutions, and as financial institutions make crypto integrations. At the start of 2021, some experts were putting price tags near $2 on ADA. So what should investors make of Cardano? Many bullish price predictions stem from its opportunities in decentralized finance. This comes after similar purchases of altcoins, including Dogecoin (CCC: DOGE). For instance, KISS frontman Gene Simmons announced last week that he purchased $300,000 of ADA. While Kevin Reynolds wrote for CoinDesk that much of the altcoin rally stems from hopes of finding the next biggest token, there is also quite a good deal of social media hype. One of the biggest gainers over the weekend was Cardano (CCC: ADA), fueled by hopes that the token will be the next cryptocurrency to explode. If you want to get in on the ground floor, keep these five tokens in mind. Investors still want to find the next cryptocurrency to explode in 2021. While that speaks to the power still behind the name, it also opens the door. Where we stand now, Bitcoin has trimmed its losses and is down roughly 5% over the last 24 hours. Are BTC and Ethereum (CCC: ETH) really too high? Regardless of the answer, Bitcoin, Ethereum and many of their peers started to tumble. Musk, a fan of cryptocurrencies, tweeted some concerns about current valuations. Then, BTC hit the breaks as bearish Bitcoin price predictions poured in.
#Splitt crypto series#
They also created a rally in a series of lesser-known cryptocurrencies. In short, these headlines combined to push Bitcoin to a new all-time high. On Friday, the first Bitcoin exchange-traded fund in North America launched to roaring success, perhaps paving the way to a sister fund in the U.S. Financial institutions are integrating digital currencies, and you can now buy a house or even a private island with your crypto wallet. Legendary investors continue to buy in, and even Tesla (NASDAQ: TSLA) purchased a $1.5 billion stake. Long also said she expects a decision in the case sometime this year.Essentially, everything has been working in favor of cryptocurrencies. In a recent CNBC interview, Ripple Labs president Monica Long said she expects the payment firm to prevail in the lawsuit. What would that possibly mean? Ripple would pay a fine (which, by my calculations it could afford) and move forward with its business and now with XRP being the only crypto with ‘clarity.’ Maybe Coinbase will only be selling Bitcoin and… XRP by next year?” “If the Judge in the Ripple case wanted to ‘split the baby,’ (that’s a horrific phrase isn’t it?) she could rule that sales of XRP since mid-2018 were NOT securities because even the SEC concedes that Ripple’s actions had almost no effect on XRP’s price since that point in time.
Hogan is reacting to a Tweet from cryptocurrency attorney, Bill Morgan, who highlights a Ripple argument from a December 2022 filing that states that “the SEC’s own expert concedes that, from mid-2018 onward, Bitcoin and Ether returns ‘can explain as much as almost 90% of XRP returns.’”
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