It’s No Joke: Massive Ripple (XRP) Gains Deserve Respect

    Although the Christmas holiday is yet to come, some investors have already the mess behind. At the beginning of the year, the market value of all crypto currencies was just $17.7 billion. Bitcoin had a share of 80%. On December 14, the market capitalization of all cryptocurrencies was $515 billion. That’s a gain of more than 2,800%. The investors who held their positions during this turbulent time could enjoy profits that are otherwise only achieved over the course of a lifetime.

    Ethereum’s 8,500% increase deserves respect

    Much of the fame goes to Bitcoin, and for good reason. Bitcoin was the first tradable cryptocurrency and is widely accepted by merchants. In addition, the share of total market capitalization is still at a staggering 56%.

    But this rally has other participants than just Bitcoin. Other blockchain technologies and coins have the potential to bring about positive change. Ethereum probably stole much attention from Bitcoin in 2017. The ether token has grown by 8,500% this year, bringing its market capitalization to $66 billion.

    Where does this popularity of investors for Ethereum come from? This is mainly due to the blockchain of Ethereum. The blockchain is the infrastructure on which to build digital currencies. In it, transaction data is stored digitally, distributed and decentralized. So basically it’s a general ledger, as we know it from accounting. Blockchain technology offers many advantages, including cheaper transaction fees, as there is no middleman. The time until transactions are confirmed is shorter, as miners work around the clock, all week long. This is a great advantage, especially when compared to international money transfers from classic banks. Because it can take days until the money arrives at the recipient.

    The creation of the Enterprise Ethereum Foundation this year has made real steam. It currently brings together 200 companies testing a version of Ethereum’s Blockchain in various industries. There are few people who are critical of the potential of Blockchain. It seems Ethereum has done a great job attracting corporate customers.

    Surprise! These three digital currencies were even better in 2017 than Ethereum

    But despite the fact that Ethereum’s increase of 8,500% is more than four times as high as that of Bitcoin in 2017, it is nothing compared to the growth rates seen in some other cryptocurrencies. Here are three cryptocurrencies that make Ethereum’s development seem meager.

    Ripple: Plus 10,900%

    Ripple has the fourth largest market capitalization among the cryptocurrencies. To date, Ripple’s XRP token has gained a massive 10,900%. The interest in XRP seems to come through the proprietary block chain that focuses on financial services. Ripples block chain could cause international transactions to be executed immediately, so you do not have to wait days for your money.

    There have been a few announcements that have raised the price of Ripple: American Express and Banco Santander use Ripples Block Chain to conduct international transactions. The partnership includes non-card payments to Santander accounts in the UK. These are processed by Ripples Block Chain. It is crucial that these transactions take place immediately.

    There is also the notion that Ripples Coin, XRP, will play a key role in speeding up referrals. For example, XRP should take the place of an intermediate currency when transferring from one currency to another. So it’s clear why Ripple is so enthusiastically received.

    NEM: plus 14,000%

    Although NEM and its cryptocurrency XNEM are less known, the cryptocurrency, the ninth-largest in terms of market capitalization, has taken an astonishing run (up 14,000%) in 2017 and is nearing its all-time high. Market capitalization is now close to $5 billion.

    Similar to ripple, attention is based on blockchain and the ability to transfer money safely and efficiently. However, NEM seems to extend its reach beyond corporate customers. It’s about peer-to-peer transactions, whether it’s two people or two companies. As the NEM Foundation is located in Singapore, the partnerships are mainly concentrated in Southeast Asia.

    Most notable, perhaps, was the announcement of a partnership between NEM and the Malaysia Digital Economy Corporation (MDEC), a government agency that manages digital infrastructure and security and advises on technology-related laws in Malaysia. The MDEC also promotes relationships between high-tech companies. This could lead the partnership to numerous Malaysian (and perhaps Southeast Asian) companies testing NEM’s blockchain and using the XEM token.

    Einsteinium: Plus 169,800%

    At the top of the one-year gains, the 43rd cryptocurrency stands for market capitalization. I’m talking about Einsteinium. This little-known virtual currency cost $0.000875 per EMC2 coin at the beginning of the year (note the name). It recently reached a rating of $2 per coin. This is a gain of almost 170,000%. If you had the luck to invest $1,000 at the start of the year, you would now have $1.7 million.

    What in the world has caused this development? Perhaps the biggest event was that a Hardfork should reduce the number of EMC2 coins by 50 million. This Hardfork was implemented on the 10th of December. As an investor, you can imagine it as if a company issues shares to raise capital. This dilutes the positions of existing shareholders by increasing the number of shares issued. But when coins are removed, it’s like a buyback. This increases the scarcity and value of each remaining coin.

    There were also countless rumors about this virtual currency. In early December there was a brief speculation about whether there is a connection to Apple. But these rumors were quickly exhausted. Nevertheless, Einsteinium promises a great revelation sometime in the future. This has led to much optimism in his coins.

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