The crypto coin Ripple is one of the strongest risers among the altcoins. A few days ago, the young digital currency increased by 70% in 24 hours. Investors who followed the Smart Investment advice of the first day have already been able to collect a profit of 900% . The rise of Ripple is special. The price explosion means that the crypto coin is already half the size of Bitcoin.
The company behind Ripple recently announced that they will deposit 55 billion XRPs, Ripple's currency, in a transparency escrow account. This increases market transparency and gives more certainty about the supply of XRP in the future.
Unlike bitcoins, XRPs are not mined. Because the company now reserves 55 billion XRPs behind Ripple, there is more clarity about the supply of the number of digital coins. Ripple will release 1 billion XRPs each month. If they are not all finished at the end of the month, the surplus will go back to the escrow account.
Ripple thus dispels the uncertainty that a large number of XRPs would come on the market in one go. As a result, the price of XRP rose, ... all explodes the course you can say better.
Ripple now has a market value of around $ 16 billion. Bitcoin has a market capitalization of just under $ 30 billion . Ripple has become half as big as Bitcoin in a few weeks. It is also Ethereum overtaken as 2 e largest crypto coin.
Bitcoin is listed above $ 1,700 and there are 16.3 million bitcoins in circulation. XRP is only trading at $ 0.40 but there are 38 billion XRPs in circulation. That is why the market capitalization is much closer than the price per unit.
Ripple is complementary with Bitcoin
Ripple is also completely different from Bitcoin. Ripple leans more against the traditional payment system. Ripple does not use a 'proof of work' algorithm like Bitcoin but an 'iterative consensus' process. Ripple is also not decentralized like Bitcoin. Both crypto coins are completely different, and therefore also complementary.
Bitcoin and Ripple have their own place in the crypto ecosystem, but Ripple has the advantage of being closer to the traditional financial system. It therefore looks like Ripple will not disappear soon.
Those who followed this strategy today have 56% more crypto coins
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