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Cryptocurrency

Ripple has released 1 billion XRP; here’s what this means

XRP outpaced Tether to become the third most valuable crypto asset in dollar terms.

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XRP losing steam as BTC & ETH gain investors' funds

Ripple (XRP), which is now the third most valuable crypto asset by market capitalization, recently unlocked 1 billion XRP, worth about $269 million, from an escrow account.

Whale Alert, an advanced crypto tracker, monitored this movement, which occurred in two different 500 million XRP transactions, in real-time.

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It then set up a plan to release about 1 billion XRP monthly for sale to be used as funding for its operations, and to invest in startups of interest, with the rest kept back in the escrow accounts.

What this means: In simple terms, the implication of this is more liquidity in the Ripple network, as more investors will now have access to those XRP.

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What you show know: Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

XRP outpaced Tether to become the third most valuable crypto asset in dollar terms, at around $14.3 billion. Its trading volume was about $3.9 billion as at the time this report was written.

Unlike its major crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered, and Barclays for international transactions worldwide.

Why Ripple is gaining popularity: A few months ago, the U.S Consumer Financial Protection Bureau expressed excitement over the idea of Ripple as a tool for bringing simplicity and openness to the financial industry.  It said:

“To the degree banks and credit unions increase their reliance on closed network payment systems for sending remittance transfers and other cross-border money transfers, the Bureau notes that this could result in greater standardization and ease by which sending institutions can know exact covered third-party fees and exchange rates.”

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Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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Cryptocurrency

100% of Chainlink (LINK) wallets are now in profit

Recent data reveals the entire supply of the LINK token is now in profit.

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100% of Chainlink (LINK) wallets are now in profit

The world’s fastest-growing crypto asset, Chainlink (LINK), is in the news again following a positive rally. Investors now have good reasons to smile to the bank because 100% of LINK wallets are in profit.

Data obtained from an intelligence company, IntoTheBlock, revealed the entire supply of the LINK token is in profit.

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READ MORE: Ripple has released 1 billion XRP; here’s what this means

How the surge happened: Recall that Nairametrics exclusively broke the news after LINK gained about 451% in 6 months, moving from $2.12 on March 15, to $9.57. This had made it the ninth most valuable crypto asset by market capitalization value of $3.35 billion.

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READ ALSO: Nigeria leads Africa combined in Q2 2020 on BTC P2P

Quick fact: Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs. Since blockchains by principle can’t have access to data outside their paths or networks, a defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.

Recall that about a year ago, Chainlink announced that Google was integrating Chainlink into their approach to smart contract adoption on how users could use Chainlink to connect to BigQuery, one of Google’s most popular cloud services.

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Cryptocurrency

Bitcoin whale moves 88,989 BTC worth $1 billion

BTC whales have been moving large stacks of BTCs lately.

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blockchain technology, Bitcoin giving better returns than the Nigerian stock market, What it will take Bitcoin to hit $100,000?

BTC whales seem to be cashing in now on the world’s most valuable crypto asset.

Data obtained from BTCBlockbot, a crypto analytic tracker, “Whale alert! Someone moved 88,989 BTC in block 642,034” estimated to be roughly worth about $1 billion dollars, recently.

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BTC whales have been moving large stacks of BTCs lately, triggered by the recent bullish momentum in the BTC market.

READ ALSO: How BTC Whales can push BTC market value to $1 trillion

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Why it’s happening: Global investors and crypto-traders are now cashing in on some of their profits, as the crypto market is washed with cheap money coming from stimulus packages from global central banks, and global inflation hitting a record high. While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.

READ MORE: An all-time high 26,054,215 BTC wallets are smiling to the bank

Quick fact: At the BTC market, investors or traders who own large amounts of bitcoins are typically known as Bitcoin whales. This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.

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As BTC whales accumulate BTCs, bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in. Meaning that over time, it’s possible that as BTC approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.

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Cryptocurrency

LINK, most profitable crypto-asset in 6 months, gains 451%

ChainLink is showing signs of life while other crypto assets are pulling back lately.

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ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

In the crypto industry, one crypto asset is emerging as the most profitable crypto asset in 2020 for its investors. The name of that crypto asset is LINK.

The detail: ChainLink (LINK) has gained about 451% in 6 months, moving from $2.12 on March 15, 2020, to $9.57 as at the time this report was drafted. This has made it the ninth most valuable crypto asset by market capitalization value of $3.35 billion.

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The recent gain in this fast-growing crypto-asset follows a recent pullback after LINK reached the $8.94 price levels near the middle of July.

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ChainLink is showing signs of life, while Bitcoin and most of the crypto assets are pulling back lately. One thing to keep an eye on is the trading and social volume in relation to its price direction. An increase appears to be starting, which is correlating with this rise.

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Quick fact: Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs.

READ ALSO: Why you should consider selling Bitcoin now

Since blockchains by principle can’t have access to data outside their paths or networks, a defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.

Recall that about a year ago, ChainLink announced that Google was integrating ChainLink into their approach to smart contract adoption. Here’s how users can use Chainlink to connect to BigQuery, one of Google’s most popular cloud services.

READ ALSO: Ethereum-based assets produce highest returns in 2020

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