100M XRP TO BE DUMPED IN THE MARKET
Today, we are going to discuss four trending news pieces. First up, it looks like 100 million XRP tokens, valued at $26 million has just been transferred from former Ripple CTO Jad McCaldeb. Second up, Michael Goldstein, President of the Satoshi Nakamoto Institute, expressed his belief in an interview, stating that Bitcoin will be a prominent factor in the financial space. Next, IBCS Group has just announced that their Poland branch has partnered with the Tangle Universe Project with its solution the ibcsTracker. And finally, Litecoin is reported to be very bullish, leading the market as altcoins surge against BTC.
The Market Today
Today we have a market mixed with greens and reds. The most prominent crypto Bitcoin is losing 1.09%, standing at $10,402. Meanwhile, ETH and XRP are slightly gaining 0.98% and 0.48% respectively.
Ex-CTO of Ripple received 100M XRP for dumping?
According to BeinCrypto, it looks like 100M XRP, which is currently worth more than $26M, was just transferred to Jed McCaleb, the ex-CTO of Ripple. Now, for those who are unaware, the former Ripple CTO is well-known for dumping his XRP tokens. It looks like even back in September 2018, the Wall Street Journal also reported that McCaleb was selling around 40,000 XRP per day, something that’s on the increase by the end of 2018. For those who aren’t aware, McCaleb and his family originally owned 7.3 billion XRP in their wallets. While the mass selling slowed down in 2019, it looks like it might be on again for McCaleb. It’s unclear what McCaleb plans to do with his funds, but he has apparently gained tens of million of dollars, as a result of mass selling his XRP tokens. Some speculate that since he is the CTO and founder of Stellar Lumens, a direct competitor to Ripple, perhaps his actions are rooted in sabotage? Or is he just motivated by greed? We’re not too sure at this stage, but only to remind you guys, Jed McCaleb was also the founder of the notorious and infamous MtGox.
Michael Goldstein: Bitcoin may dominate financial space
According to a report on AMB Crypto, Michael Goldstein, the President of the Satoshi Nakamoto Institute, and CEO of Bitstein Consulting, recently stated in an interview that Bitcoin will not just a monetary asset for the dark web, but it will be an indispensable asset in the financial sphere. For those who are wondering, Michael Goldstein was interviewed by Anthony Pompliano in the latest episode of Off The Chain podcast. The President shared that he has always believed in the original vision of Bitcoin. He added:
“The economics show that it can have much more ambition than that and in fact we should have that ambition because I believe, it brings so much value to society.”
The duo also discussed about the fact that a majority of the Bitcoins in circulation are concentrated in the hands of a mere few. Goldstein pointed out the first mistake made by people is that they assume one address should be one single user:
“You might look into an address which has 10,000 BTC but that might just be a cold storage of some exchange. It’s concentrated in a place where many people have created an entire market for Bitcoin so it’s not really accurate to say that is a specific person.”
IBCS Poland joined Tangle Universe Project
According to an official announcement on ibcsgroup.com, the Poland branch of IBCS Group, an application solutions integrator, has cooperated with the Tangle Universe Project to provide its solution ibcsTracker. If you are an IOTA advocate, you may know that the Tangle Universe project was initiated by IOTA, aiming at promoting IOTA and Tangle technologies. With this project, we can expect more transparency in the fields of services, projects, and supporters. Furthermore, both parties hope that they can disseminate the technology of IOTA and Tangle as well. In the near future, this Tangle Universe Project will be a hub for people, projects, and applications.
Is another altseason coming?
According to Ethereum World News, While Bitcoin is really struggling to hit the $11,000 mark, Litecoin and other altcoins are reportedly surging against their BTC trading pairs. The surge in the altcoin market may signal that perhaps, altcoins are once again forming an inverse correlation with Bitcoin, which could kick off the prophesized altseason that many investors are keen to see. However, to be sure about this trend, one key indicator that investors should closely pay attention to in the coming days and weeks is BTC’s dominance over the aggregated crypto markets. If you notice a decrease in the BTC’s dominance, it is very likely indicating a new altcoin era as capital from BTC begins to flow into other cryptos.
What are your thoughts regarding all of them?
Why do you think McCaleb is mass-selling his XRP onto the market?
Do you hold the same vision for Bitcoin’s future as what Michael Goldstein?
Are you excited to see the new partnership between IBCS Poland and Tangle Universe Project?
Do you think we’re going to witness a new altseason arising anytime soon?
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.