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February 2012

Ripple (XRP) Soars 15% Suddenly, Other Cryptos Follow

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Ripple

Ripple

The cryptocurrency space might have seen a remarkable surge in the first half of the year, but that was not the case with Ripple (XRP), the world’s third-biggest cryptocurrency by market cap.

Ripple’s Rally a Boost for the Crypto Market

As a matter of fact, XRP’s poor performance during the height of the Bitcoin rally prooved to be a huge bone of contention in the XRP community. However, that problem might be coming to an end as the XRP token has experienced a massive surge today, and over the course of the past 24 hours, it has gained as much as 15% at $0.297.

Over the past two weeks, XRP has been in the eye of a storm as many in the community accused Ripple, the company that holds billion of XRP tokens, of dumping it indiscriminately. It has also been accused that the dumping depressed the price, and only this week, an influential Twitter account urged the community to instead go for an XRP fork. It goes without saying that these have been trying times for both the San Francisco-based company, which is pretty much in charge of the token’s future, and the community.

There are experts who believe that this week could prove to be a crucial one for a lot of altcoins, including XRP, Ethereum, Litecoin, and Bitcoin Cash. Litecoin has been in one of its most impressive rallies this year so far since Friday, and experts believe that the token could eventually touch $85 in the coming days.

>> Ethereum Gains as Momentum Returns, Jumps 20% This Week

On the other hand, many well-known Bitcoin bulls are predicting another significant rally for BTC and if that happens, then both XRP, as well as Ethereum, should rise as well. These are very interesting times for XRP since the product is currently being tested by money transfer giant MoneyGram and if Ripple can sign up more partners, then the cryptocurrency could expect to see some positive price action.

Featured image: DepositPhotos © adriantoday

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Ethereum Gains as Momentum Returns, Jumps 20% This Week

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Ethereum

Ethereum

While Bitcoin went on its incredible rally during the first half of the year, its biggest competitor, Ethereum (ETH), struggled massively and failed to generate any meaningful gains for its holders. There was a time when many had predicted that ETH was going to eventually overtake Bitcoin, but that never came to pass, and this year, the performance was particularly disappointing.

Is it a Bullish Sign?

However, it seems that ETH is making a comeback this week; the token recorded massive gains to stoke excitement in the crypto sphere yet again. In this regard, it is important to note that despite its struggles over the past months, ETH was never in danger of losing its status as the world’s second-largest cryptocurrency by market cap.

Due to the massive surge in its price this week, experts have predicted that the ETH price might, in fact, cross an important hurdle of the $220 barrier soon. Now, one thing that needs to be understood with regards to Ethereum is that the cryptocurrency is now among the older ones in the market, along with Bitcoin, and hence, it enjoys a bigger status in the market.

While Bitcoin was going through one resistance after another during the first half of the year, ETH was trading within a range. However, that has now changed.

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Since last Friday, ETH has gained as much as 20% and has the momentum to gain more within the next few days. At the time of writing, the price for one ETH stood at $209, and the total market cap of the coin touched $22.45 billion. That being said, the sudden rally in ETH still remains unexplained, and it remains to be seen how long it can sustain.

Moreover, the experts in the crypto market have even gone on to say that the sustained rise in Ethereum could also prove to be a boost for Bitcoin.

Featured image: DepositPhotos © Violka08

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NetCents Doubles Partnership Agreements in Six Months

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NetCents

NetCents

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement.

Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems.

“This accelerated partner growth continues to validate our business model and the future of the Company,” said NetCents founder and CEO Clayton Moore. “Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our Merchant Gateway within their technology, providing merchants a seamless experience and onboarding process for cryptocurrency payments.”

NetCents has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors through its partnerships with payment processors, merchant gateways, ISO’s, ISV’s, and terminal manufacturers.

This integration provides NetCents with a competitive market advantage of being the default cryptocurrency payment provider for merchants and also gives the company access to hundreds of additional partners, millions of merchants, and a sales force of thousands of agents who will sell the NetCents crypto Merchant Gateway to their existing merchant base.

Moore explained that the company is already seeing the early success of its partnership strategy come to fruition. In fact, NetCents signed on more merchants in the first week of September than it did in the entire month of May and has already experienced an average 95% monthly increase in merchant signups since May 2019, as well as a 39% increase in processing volume every month since February.

NetCents Develops Merchant Acquisition Plan to Enhance Partnership Program

NetCents also announced that it has begun its Merchant Acquisition Plan (MAP) to enhance its partnership program and keep up with the abundance of partnership agreements being inked. The goal of MAP is to add 15 enterprise merchant that process over $20 million USD per year in sales, with a monthly baseline of $100,000 cryptocurrency transactions.

To ensure its success, NetCents has assembled a team of industry-leading veterans to develop, launch and manage MAP. The team is focused on analyzing tens of thousands of businesses across North America, Australia, and Europe, ranking them against a scoring system, personalizing their outreach message by vertical or business, and launching an educational content program on market trends as well as the company’s products and programs.

Although the program launched less than a week ago, the MAP team has already reached out to 287 merchants who fit the selection criteria, with an initial 26% engagement rate. The campaign will continue to run through March 2020. During that time, the team expects to add an additional 100-300 merchants to its outreach queue on a weekly basis.

It will be exciting to see how many merchants will jump onboard from now until March and if the company will meet its acquisition goals.

Despite its accelerated growth strategy and partnership success, NetCents share price was down 10.71% by 4:00 pm EST on Wednesday.

Featured Image: Depositphotos ©pressmaster

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Coinbase Pro Increases Fees, Resumes Accepting GBP

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Coinbase

Coinbase

Coinbase has announced that it will increase fees on its Coinbase Pro platform as well as resuming support for UK deposits and withdrawals.

Coinbase Pro, the cryptocurrency exchange’s platform for professional and institutional traders, will adopt a new fee structure that will see an increase in fees on all transactions under $10,000 USD and between $10,000 USD and $50,000 USD. The new structure will see maker fees rise by 233% for the lowest tier of transactions, from 0.15% to 0.50%, while taker fees will go from 0.25% to 0.50%, an increase of 100%. The maker and taker model is a way to differentiate fees between trade orders that provide liquidity (maker orders) and take away liquidity (taker orders).

The new fee structure has caused outrage in the crypto community, with many users saying the only solution is to simply abandon Coinbase in favor of a rival platform, such as Kraken. One Reddit user stated“Meanwhile stock brokerages are all going fee-free.. I emailed support blasting them. If they don’t change, I’m going to Kraken,” while another said, “Conbase is the correct spelling.” Coinbase has said that the aim of the new fees is to increase the depth and liquidity of the market; however, some users have said the platform is continuing to favor big traders.

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Meanwhile, Coinbase has also announced that it has resumed support for the British pound sterling (GBP) following months of backup. Back in July, the exchange was dropped by British bank Barclay’s, a partnership that was once hailed as the most prestigious in crypto, after the bank lost its appetite for cryptocurrency. However, Coinbase UK was immediately picked up by ClearBank, a considerably smaller “challenger bank” in the UK.

Coinbase UK was unable to immediately recommence operations with ClearBank as it had to meet several requirements first, including the delisting of Zcash (ZEC). The exchange has also revealed that UK users will now be able to trade five new coins, including Ripple’s XRP.

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