XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.” A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it […]
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Source: AMB Crypto

Bitcoin: Does speculative trading of BTC equate to adoption? This Bitcoin enthusiast begs to differ

Bitcoin has matured over the course of 10 years, it has converted a lot of skeptics to (if not believers, at least) being open towards having a rational approach towards it in the recent days, including, Warren Buffett, Jamie Dimon, etc. In addition, the government has come to accept that Bitcoin cannot be banned altogether, […]
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Source: AMB Crypto

Bitcoin: Would you rather HODL Bitcoin or trade? ex-CTO of Coinbase opines on investing in cryptos

With the inception of Bitcoin and the advent of altcoins, there has never been a good chance to make quick money by simply investing. The last time such an opportunity was seen during the DotCom bubble. However, scams are also a part of this opportunity which became more than evident during the ICO frenzy of […]
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Source: AMB Crypto

Latin American banks test Ripple’s xCurrent payment solutions; eyes XRP-based xRapid solutions

Facebook’s announcement of Libra has allowed cryptocurrencies to gain mainstream attention, inadvertently helping Ripple, suggested Brad Garlinghouse during the recent Brainstorm Finance 2019 event. In a recent development, Latin banks – Banesco Panama and Scotiabank Chile have reportedly run proof-of-concept for cross-border payments with Ripple. According to iupana, Banesco Panama is aiming to use blockchain technology […]
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Source: AMB Crypto

The reason why XRP’s price did not see massive bump even after the MoneyGram partnership with Ripple

The partnership between Ripple and Moneygram was plaguing the Internet for almost two weeks when Ripple finally confirmed it on June 17. This led to massive FOMO in the community causing the price of MoneyGram stocks to soar. However, the price of XRP didn’t see any substantial rise; and the price of XRP has been […]
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Source: AMB Crypto

Skepticism about Libra is natural, claims Sheryl Sandberg as Facebook’s crypto faces growing resistance

Facebook’s blockchain project has been under the works for more than a year. When it was finally revealed however, the whitepaper received mixed reactions from a host of people, ranging from developers to politicians of different countries. Ari Paul, CIO at BlockTower Capital, tweeted his views on Libra, guessing that there is a 50% chance […]
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Source: AMB Crypto

Will Indian users be next on Binance’s ban list?

Changpeng Zhao aka CZ, CEO of Binance, organized an AMA and addressed rumors regarding the recent shutdown of Binance for U.S.-based users, while also talking about the announcement of Binance U.S. Binance recently updated its internal policy which made U.S. users and any other users violating these terms unable to deposit funds or cryptocurrencies on […]
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Source: AMB Crypto

Despite convertibility issues, Facebook’s Libra will be a dominant stablecoin, opines Thomas Lee

Thomas Lee, Head of Research at Fundstrat Global, spoke to CNBC about Facebook’s Libra Blockchain. He also opined on how it would affect the cryptocurrency space, especially Bitcoin, stablecoins, and the field of decentralized finance. Lee said that Facebook’s announcement was a “complete validation” of the fact that institutional eyes had shifted to cryptocurrency, contradicting […]
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Source: AMB Crypto

Facebook’s Libra ‘sounds an awful lot like Proof-of-Stake’ and will ‘run into Ethereum’s problems,’ claims Jameson Lopp

Facebook’s “The Libra Blockchain” whitepaper has created quite a frenzy, not only in the cryptocurrency ecosystem, but also with U.S. government officials. Some people claim that Libra is not a blockchain, while others claim that it is going to kill Ripple, XRP and other similar blockchains. However, Jameson Lopp had a different view, claiming that […]
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Source: AMB Crypto

goLance seeks Ripple’s help to integrate faster, efficient payment solutions

Michael Brooks, Co-founder and CEO of goLance, recently shared the news that goLance was taking Ripple’s help to integrate its payment gateways and facilitate easier and faster cross-border payments for users across the world.
Brooks broke the news during the 2019 American Business Awards ceremony, going on to thank Ripple after winning 3 Stevie awards.
Paralect, an IT services company also partnered with goLance, congratulated goLance on the same and stated,
“We’re beyond happy to congratulate our partners and friends at goLance on their 2019 Stevie Awards. Our team has worked with goLance since 2014 and continues to refine the product that is attracting more and more freelance talent around the world… Most recently, we’ve developed a solution to add the Ripple Network to the long list of goLance payment integrations. This will allow fast and secure cross-border payment solutions via digital asset.”
goLance is a platform/marketplace where one can hire freelancers on an hourly basis or on fixed bid projects. Paralect helps small and medium-sized industries/companies launch products that drive innovation.
Ripple has the most skin in the game, especially when it comes to the cross-border payments sector. Ripple has a plethora of partners already making use of Ripple’s proprietary blockchain payment solutions, as well as digital asset-based solutions that are helping companies around the world send payments in a better, faster, and a more secure way.
Ripple’s xRapid solution is completely based on the digital asset XRP, which provides liquidity to facilitate cross-border payments. Other solutions such as xCurrent and xVia make use of blockchain technology to deliver faster payments.
A Reddit user, @Furitlicious, commented,
“1 of many to come. Can’t wait for them to throw out the “Runs on Ripple” slogan”
Another Reddit user, @Daleeburg, commented,
“Is there anything stopping any business from hooking into xRapid for cross border payments without a bank?”
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Source: AMB Crypto

Binance IEO Effect dwarfs ‘Coinbase Effect’ as users get rich off Binance’s IEO tokens

The ICO boom of 2017 was the major reason behind many altcoins pumping massively. Several coins without proper resource allocations raised millions of dollars and delivered nothing, while coin holders took profits. However, SEC’s crackdown put an end to such scams and paved the way for other investment methods for people who wanted to launch new crypto-coins, some of which include STOs [Security Token Offerings] and IEOs [Initial Exchange Offering].
The latter became quite famous as it was spurred by the world’s largest exchange, Binance. The exchange made sure to migrate Binance Coin [BNB]  from Ethereum blockchain to their own blockchain. This was followed by an announcement that allowed other projects to move from ERC20 platform to Binance Blockchain.
The launch of BNB on its mainnet was followed by the launch of Binance DEX and a platform called Binance Launchpad, for its famed IEOs. The launch of BitTorrent’s token sale on January 31 made approximately $7.2 million and in less than 15 minutes of launch, it had a hard cap of $7.2 million. The second token, Fetch.AI, sold out within 22 seconds of launching and had a hard cap of $6 million.
Unlike ICOs, IEOs bring trust back to the ecosystem by reintroducing centralization. It involves a middle man and centralized authority, in the form of an exchange platform.
So far, Binance has listed 5 tokens excluding the Bread token, that was launched December 12, 2017. The other tokens include BitTorrent, Fetch AI, Celer, MATIC, and Harmony.

The above table tracks the percentage rise in the price of the tokens after being listed on the exchange. BitTorrent tokens were sold at $0.001865 during the public sale, with the price surging by a whopping 975% to the price at press time. However, the price of BTT surged by 1454.17%, after it hit an overall peak point of $0.001865.
Fetch AI, whose tokens sold out in 22 seconds, is currently down by -78.19%. However, at the peak price point, it surged by 294.69%, which was the second lowest surge of all Binance listed tokens.
Celer project which was listed on March 25, 2019 with a hard cap of $4 million did a peak surge of 287.91%. However, at press time, it was up by 182.37%. The largest surge was seen on MATIC token which was listed on April 26 and had a hard cap of $5 million. The total surge, at press time, was 774.87%, whereas the surge at peak price was 1,611.03%. The last token to be listed on Binance Launchpad/IEO was Harmony Token, which surged by 618.02% at press time, and had a peak surge of 882.68%.
CZ tweeted an excel sheet which tracked the returns of the coins listed on Binance IEO.

Projects that went through @binance Launchpad. Congrats! pic.twitter.com/YKIIGyHmJZ
— CZ Binance (@cz_binance) May 19, 2019

There is a clear surge in the price of the coins after being listed on Binance Launchpad, which is something similar to the effect seen on coins listed on Coinbase, which is informally termed as the “Coinbase Effect.”
XRP, the third largest cryptocurrency in the world, has a huge and probably the most active community right after Bitcoin’s, and saw a similar effect on its price when it was listed on Coinbase on February 25, 2019. The price of XRP against USD surged by approximately ~8.45% in under 3 hours whereas, the price surged, consolidated, and fell after 24 hours, i..e, it came down to ~3.35%.
XRP was the best coin listed after the “Coinbase Effect” was waning, so one can say that the effect wasn’t as much as the effect of previously listed coins that include Ethereum Classic [ETC], ZRX Token, Basic Attention Token [BAT], and Zcash [ZEC].
ZEC surged by the second lowest percentage within 3 hours of the announcement, i..e, 16%, with the surge falling down to 0.1% by the end of the day. ETC saw the highest surge after being announced i.e., it rose by 25.8% in 3 hours, ZRX surged by 29.8%, and BAT surged by approximately 20.6%.  The Coinbase Effect faded as time passed by and it is hardly noticeable as of today, unlike the Binance IEO effect, which gives more returns than the Coinbase effect.
In retrospect, if an investor would have invested $1000 during the public sale of MATIC tokens, the investor would stand to gain ~$16,100 by holding them for only 25 days. If the same amount was invested in BTT, the investor would gain ~$14,500 for holding the tokens for 117 days. The best investment would be Harmony Token, if the user had invested $1,000, he would stand to gain $8,800 in only 5 days. The gain for all of the aforementioned tokens is after deducting the investment.
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Source: AMB Crypto

Gate.io takes Bittrex’s lead; will delist major altcoins such as XRP, EOS, and Monero for U.S users

Regulations within the cryptocurrency industry have always been tricky to maneuver around. However, the ecosystem’s uncertainty is forcing some players to take caution and guard against the changing landscape. One such initiative is being undertaken by Gate.io. The exchange announced the delisting of several cryptocurrencies including EOS, Monero [XMR], and Ripple’s XRP, among others.
The official announcement read that some coins (cryptocurrencies) will not be available to U.S. users effective June 30, due to regulatory uncertainty. It further stated,
“Starting from June 30, 2019, USA users can not access to deposit and trading of the following coins: CNYX, EOS, XRP, TRX, XTZ, BTM, NAS, QTUM, NEO, GAS, XMR, BCN, XEM, WAVES, DCR, ONT, ONG, THETA and TFUEL. These coins will no longer display on the Market list to USA users after Jun 30. If you are a USA user, please withdraw them as soon as possible.”
This unforeseen decision made by the exchange will not affect non-USA users, who will continue to have full access to the above-mentioned coins without any changes.
Interesting enough, Bittrex also recently decided to do something similar a few days back. Bittrex announced that it would be delisting the following coins, namely, ADT, CMCT, GO, MFT, QRL, XEL, AMP, DNT, GTO, and 23 other cryptocurrencies, effective June 21. Similar to Gate.io, the said change would only be applicable for uses residing in the U.S.
The exchange had stated,
“After the Change Date, U.S. Customers will not be able to buy or sell the above-listed Tokens/Coins. On the Change Date, our systems will automatically cancel all open (i.e, unexecuted) orders in the affected markets for U.S. Customers.”
A Twitter user, @shirkhan, tweeted in response to the above-mentioned delisting,
“As of now @BittrexExchange will delist a couple of #cryptos ($XRP NOT affected) for US Users and  @gate_io will do so as well ( $XRP getting delisted). Let‘s see if any of the big exchanges will follow suit. This only affects US so far. #XRPCommunity”
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Source: AMB Crypto

Cardano’s Charles Hoskinson explains his views on the new ‘Cardano Roadmap’

IOHK shared the redesigned roadmap for Cardano after scrapping the old one. The new roadmap details their vision for Cardano from 2019 through 2021. Charles Hoskinson detailed the reasons that went into the new roadmap in “The Cardano Effect” Podcast on June 9.
IOHK tweeted:

Today, we're very pleased to share our completely redesigned roadmap, charting our progress towards the Cardano 2020 vision. Here's where we'll keep the community updated over the months ahead https://t.co/t1kjKY09lk #Cardano #CardanoCommunity #Blockchain
— Input Output (@InputOutputHK) June 5, 2019

Hoskinson said that roadmap was “the reflection of the philosophy of how something is built” and that the old roadmap was based on percentages and quarters and that once they started building things based on the old roadmap they discovered that things weren’t as simple as they thought they would be.
According to Hoskinson, the old roadmap compared to the project/product management, the actual product delivery process had tuned out of sync with each other. This led to them breaking down the roadmap into steps that could be achieved step-by-step; Byron was the first step in this direction, which is followed by Shelly, Goguen, Basho, and Voltaire.
He further mentioned that Byron was the first step where they built applications and APIs to make sure that they could get on exchanges, third-party apps, etc. This was followed by Shelly, which concentrated on the “decentralization” aspect of Cardano and defining what decentralization means to them. And each ear, be it Byron or Shelly needs to have a demarcation that explains what was accomplished in that particular phase, said Hoskinson.
Hoskinson added:
“So the way that we try to structure this roadmap is to know that these are not necessarily linear, where you do one and you go to the next one in the next one. These things kind of sit on top of each other and they stagger. So you know Byron is nearly done and we’re kind of leaving
that eros so that’s closed out but Shelley is going to keep going because the goal there’s decentralization…”
He said that this roadmap was structured considering the end, where they would need to handover this ecosystem to the Federation of actors and to every single person that cared.
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Source: AMB Crypto

Bitcoin to face an imminent drop by $400; Bull momentum vanishes as weekly chart bleeds red

Bitcoin’s meteoric surge had everyone believe that it was the start of the bull rally; however, that rally seems to have exhausted the bulls as the price is stuck in a sideways movement.
Short-Term Analysis
The price of Bitcoin is stuck in a sideways movement without any massive dips or surges for over five days, indicating the exhaustion of the bull rally. There is a formation of an ascending channel and the breakout of this channel is bearish.
Source: TradingView
The breakout from this channel, if similar to the previous pattern, could suggest a drop of approximately 10%, which could take the price of Bitcoin to $7,100. However, the drop could be stopped by subsequent resistances at $7,542 and $7,238.
Long Term Analysis
Daily
The daily time frame showed a breakout of the rising wedge, which resulted in a total drop of ~15%. The Relative Strength Index on this time frame shows that it has breached a four-month-old resistance and is headed down, which is a bearish signal.
Source: TradingView
Weekly
Source: TradingView
The weekly time frame for Bitcoin shows the formation of a doji candle, indicating a reversal in the trend. The candle, after the doji, is a red weekly candle that was formed after 5 consecutive weeks of green candles. If the candle after the doji is a red candle, this indicates a reversal in trend. The support for Bitcoin on a weekly time frame can be seen at $5,880.
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Source: AMB Crypto

Bitcoin is still outperforming traditional assets 5 months into the year

Bitcoin was in the depths of the bear market by the end of 2018, it dipped by 84% since its all-time high in 2017. The price of Bitcoin reached $3,122 in December 2018. Most people in the traditional market said that Bitcoin would go to zero; however, the price of Bitcoin has since surged by 191% as of May 27, 2019.
This rise in Bitcoin’s price is not surprising to people who have been through the bull market of 2017, but for the people in the traditional markets like Gold, Bonds, etc, Bitcoin’s parabolic rise seems like a meteoric surge. Many people argue that Bitcoin is not safe, but none of them bet against it, for the simple fact that Bitcoin outperforms almost every traditional asset out there.
Morgan Creek Digital’s Mark Yusko and Anthony Pompliano put a $1 million bet out in the open that Bitcoin will outperform the S&P in the next 10 years. There were no takers for this bet, which is more than enough proof that nobody is willing to bet against Bitcoin’s performance.
Over the course of 2019, Bitcoin’s price has reached a peak of 191.35% and at press time, was up by 153%, which when compared to other traditional assets is massive.
Charlie Bilello tweeted a comparison of the performance/returns of traditional assets and Bitcoin.

2019 Returns…Bitcoin $BTC: +111%REITs $VNQ: +20%Nasdaq 100 $QQQ: +18%Oil $USO: +16%S&P 500 $SPY: +16%Small Caps $IWM: +13%EAFE $EFA: +12%Investment Grade $LQD: +9%High Yield $HYG: +9%EM $EEM: +5%Bonds $AGG: +5%Commodities $DBC: +5%Gold $GLD: +4%Cash $BIL: +1%
— Charlie Bilello (@charliebilello) June 8, 2019

The returns for S&P500 is only 16% while as seen above, Bitcoin’s returns for 2019 is more than 100%. The emerging markets, which are said to track similar movements as Bitcoin are up by only 5%, the same can be seen with Bonds, Commodities and Gold stands at 4%.
A Twitter user @talgya, commented:
“Is listing these assets in this manner implying that they are all accessible via a regulated exchange for institutional/retail investors? If yes should $BTC be listed as $GBTC, if not should these be listed as tickers?”
Another Twitter user @edtechx, commented:
“I like these Tweets, would be amazing to thread them with additional Tweets (say) same tickers but 2yr/3yr returns as this gives much more context to the 2019 numbers.”
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Source: AMB Crypto