Crypto has taken quite a hammering the past few months. Prices are down and people have lost a lot of money in some instances. This pain was necessary and it has purged the crypto world of ICO scams at the very least. The long term bear market has driven prices low but also cleaned up the crypto world. Furthermore the market is beginning to value fundamental development over whitepaper promises.
It has also helped people move away from turgid technical of prices. Investor eyes are starting to explore project fundamentals in more depth and this can only be a good thing. For too long sentiment has driven prices. The dawn of fundamental development impacting prices has arrived.
Ripple and XRP has many detractors, particularly among the more fundamental crypto believers. However as a business project Ripple has always impressed me with it’s solid fundamental development. The project was one of the big movers in the Dec/Jan bull rush and has consolidated it’s hold on third place in coinmarketcap rankings in the bear market since.
Ripple is a highly functioning product used by hundreds of commercial banks. XRP is used to cut cross border interbank transfer time from days to seconds. It’s a real viable solution to a real pain point for banks. XRP is catching people’s eye again as evidenced by the 20% jump upon announcement of the upcoming launch of the xRapid payment platform.
In August, Ripple partnered with three crypto exchanges — U.S.-based Bittrex, Mexican Bitso, and Philippine Coins.Ph — as part of an xRapid solution to build a healthy ecosystem of digital assets exchanges. The new partnership will enable xRapid to move between XRP, U.S. dollars, Mexican pesos, and Philippine pesos. This type of smart development of the fundamental capability of the project should see the price continue to rise in the coming months.
VeChain’s mainnet launch and subsequent divorce from the Ethereum blockchain is a strong fundamental development. Reliance on Ethereum is a worry for many investors looking at ERC20 token projects. The reasons for this are simple, there are viable and real concerns around the Ethereum platform.
These doubts are centered around scalability issues and also the fact that the ETH dApp dream is looking more and more like an unused nightmare. VeChain like TRON has moved off the Ethereum blockchain and their prices have remained at more or less early August levels through the latest dip.
XLM has been a lifesaver for many crypto investors over the last few months. The price has remained relatively close to all time high in comparison to some of the other top 10 projects. I believe this is down to two things – solid partnerships and fundamental development.
In late August Stellar hit the 1 million active accounts milestone. It has also achieved over 3,300 assets, 25 million payments, and 8 million trades along with it. When one looks around, the beautiful performance of Stellar XLM is everywhere in the cryptocurrency space. Recently Coinbase announced it is exploring some assets. Of the cryptos mentioned, observers are of the opinion that Stellar stands out and may reach the exchange ahead of any other crypto considering its outstanding performance, lately.
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