From analyzing the Bitcoin and crypto market sell-off to Kin’s choice of Stellar over Ethereum, these are stories breaking in the world of crypto.
Bitcoin and Bitcoin Cash
Brian Kelly, CEO of crypto investment firm BKCM, expresses his belief that the huge Bitcoin and crypto market sell-off is an interim event caused by the menacing Bitcoin Cash hard fork.
“People’s concern is that both Bitcoin and Bitcoin Cash markets – their networks might become inoperative. The software upgrade being carried out might not work or might cause chaos if it does.
People started selling and incited stops. Everyone got concerned and that’s what happened today – the entire market sell-out. From my perspective – very impermanent type of event.”
Ethereum and Stellar
The originators of the popular messaging app Kik and its peculiar cryptocurrency Kin have decided for the platform to only use Stellar network instead of Ethereum.
Kik premiered it’s ICO on Ethereum late last year, they chose to combine Stellar and Ethereum, before publicizing in a blog post its decision to totally break away from Ethereum.
“At every stage, we’ve understood the need to create the best infrastructure for the ecosystem. Kin took off as an ERC20 token on the Ethereum blockchain seeing its strong decentralization. It was then transferred to a hybrid solution utilizing both Ethereum and a custom fork of Stellar to merge feeless transactions and scale. Currently, after running on the fork of Stellar, we are moving all Kin to the Kin blockchain to refine the technology and its link to exchanges.”
Ripple and XRP
Cory Johnson, the chief marketing strategist at Ripple, affirms that Ripple is creating a payment layer let the internet to “finally fix” a 35-year-old problem.
Johnson stated this at the Techonomy 2018 conference in Half Moon Bay, California.
Meanwhile, Paycent wants to add XRP to its mobile wallet app and payment platform on December 7th.
Customers can store XRP and operate Paycent’s “Paycard” to turn XRP into local currencies and make withdrawals from ATMs.
XRP, Ethereum Classic, 0x, Basic Attention Token, OmiseGo
Coinbase Custody has added to the list of coins supported by its platform. As at August, the service maintained four cryptocurrencies — Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
The complete list includes Bitcoin, Ethereum, XRP, 0x, Basic Attention Token, Bitcoin Cash, Litecoin, Ethereum Classic, and OmiseGo.
Coinbase Custody is a crypto storage solution targeted at giving institutional investors a safe way to preserve digital assets. It currently saves cryptocurrencies worth over $20-billion with customers depositing a minimum of $10 million.