The last two weeks have seen every single cryptocurrency lose much value, starting with Bitcoin, and there is no end in sight. It was nothing short of carnage. But amid this chaos, two digital assets kept fast. Of course, they also lost value. But their red numbers have been written to single digits, while all the others throw down two digits. We are talking about the XLM of Stellar Lumen and XRP of Ripple.
Stellar Lumens (XLM)
It may seem like a paradox, but you can also make progress in a market that is going down, and that's what XLM has achieved. He briefly beat Bitcoin Cash from 4th place by market capitalization. While it did not stay there permanently, this is a sign of things to come.
The Bitcoin Cash fork has created a hashing war and has provided launches for community members. Still, it dropped from $ 630 (before the fork) to around $ 160 at the time. This is probably due to the fact that many users who have received coins from airdrops are now squaring their positions in Bitcoin Cash as the market is dominated by sellers.
At present, both EOS and Stellar Lumens have market capitalizations that are in the same area as Bitcoin Cash. The difference between all three is that the XLM has fallen at a much lower rate. About two days ago you could have thought that he would have reached them in the following days. This is exactly what happened between XRP and Ethereum, and now XRP is a solid second place for market capitalization.
But that's not the case now. Stellar as dazzled even more than EOS and Bitcoin Cash in the last 24 hours as it is 24% red. In the current turbulent situation, XLM does not really need to grow up to be a safe haven. It just has to keep decreasing much slower than similar resources, which is exactly what's happening about 30 hours ago or so (but not now).
As mentioned earlier, even in the recent mess, XRP has achieved some success becoming the second digital asset in the world by market capitalization, surpassing the legendary Ethereum. Now it surpasses him by about four billion dollars, so he seems safe in his new second place.
Then there is good news. TransferGo announced that it would adopt Ripple's xRapid platform to create a corridor of remittances between Europe and India. This platform is powered by XRP transfers, which create demand and volume of trade for the token.
In addition, Ripple's Asian partner, SBI, announced that it would use Ripple's technology to ensure the security of credit card transactions in Japan. And Mitsubishi also announced that it would use Ripple to settle payments between Japan and its Brazilian partners.
Ripple's XRP kept up fast because it proved to have a myriad of use cases in the traditional financial sector. Banks using Ripple's platforms and coins are liquidating international payments in minutes, at the cost of a fraction of a cent, thus offering their customers better, safer and more economical service. According to American Express, XRP is saving around 70% of the costs of sending money abroad.
The XRP has also managed to build a solid community that will go to hell and will return for the currency and the ideas it supports. But even if it has kept the basics pretty good, this case has changed now, as the cryptocurrency is falling even more than Ethereum. The XRP is trading in red by 17.51% in the last 24 hours (the ETH decreased by 15.41%).
Good things also happen in difficult markets, and they teach us a lesson. Let's try and learn from the current bullish run: XLM and XRP are here to stay, and they are very solid.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliated companies, employees, writers and subcontractors are cryptocurrency investors and may from time to time have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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