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It is no secret that the cryptocurrency markets have suffered a general collapse, especially considering all the downward actions for bitcoin, ethereum and altcoin, in 2018, compared to l & # 39. Incredible bullfighting of 2017.
While many people believe that this is a simple consolidation, others paint the narrative that many are not sure about the real-world applications for blockchain technology and whether institutional money will flow into cryptocurrencies.
Ripple is definitely changing that narrative, which has recently grown more than 80% thanks to its developments and partnerships with financial institutions.
He also briefly took the place of Ethereum as the number two currency by market capitalization, in a price rally that confirmed a reversal of trend and stunned many investors and traders in the cryptocurrency community. The price eventually declined when Ripple returned to point 3 on market capitalization, but the price movement certainly made a statement.
There are those who wondered if Tron could make a similar move at the end, considering that it is a project that has drastically decreased in the market capitalization, and many consider the oversold currency.
The fact that Ripple made a move of the 80% who quickly gave hope to other altcoins and comforted the cryptocurrency community that could be in red that was not only possible to break again, but not everything was lost in the markets, and they can begin to hope to profit from it in the long run.
In a tweet Tron's founder, Justin Sun, spoke about how the XRP wave was exceptional for the markets and stressed that an important financial institution like the PNC bank believes in Ripple protocol and blockchain technology in general.
For the context, PNC Bank is the bank the world, as far as activities are concerned. He also mentioned that former President Bill Clinton would be a keynote speaker at the next Swell conference, bringing together leaders in commerce, politics and technology in an effort to increase dialogue about how technology it can better serve society.
Mr. Sun pointed out that this clearly means that blockchain is "becoming mainstream". It is also important to stress that Sun had another reason to celebrate, given that Tron Foundation is a Ripple shareholder – although the amount of XRP it holds is unknown
Sun was also Ripple's Greater China representative, the fact that he proudly declared in his tweet and went on to say that this essentially meant that traditional financial institutions would adopt more blockchain technology. [19659003] Swell will be held at the beginning of October in San Francisco, and Clinton also expects to bring questions from the public. Other distinguished speakers are Brad Garlinghouse, CEO of Ripple, Ed Metzger, head of innovation at Banco Santander and Eva Kaili, president of the European Parliament on the Department of Science and Technology Options.
With more financial institutions adopting blockchain technology; The idea is that more institutional money will flow into the cryptocurrency markets, which will allow all types of cryptocurrency projects to increase in value. Time will tell if we will see a similar wave from Tron, but it certainly looks more likely.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of the PixaBay function
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