Sun Says TRON Will Partner with a 100 Billion Dollars Company
To catch up with the news over the weekend, we have some pretty hot pieces to share with you over the next 5 minutes. First up, Ripple CEO Brad Garlinghouse revealed that MoneyGram is actually pushing to launch Ripple’s XRP-Powered Cross-Border Payments platform worldwide. Second up, according to Justin Sun, TRON will be partnering with a $100 Billion dollar mega-corporation next week. Moving on, it looks like last week was a pretty good week for Bitcoin. Bitcoin’s prices soar 42% to $10,500 – which makes it the biggest daily gain since 2011. And finally, it’s not only Bitcoin that’s soaring well. Altcoins also react to Bitcoin’s sudden surge with some major coins posting double digital gains.
The Market Today
As you can see right here, it looks like Bitcoin experienced an astonishing surge, which led to the significant gains in altcoins as well. Bitcoin is currently standing at $9,787, after a more-than-40% gain on Saturday and 6.775% gain today. Ethereum also increases dramatically, increasing up to 30% last week and 5.22% over the weekend. Similarly, XRP is earning 4.34% in the past 24 hours.
Brad Garlinghouse: MoneyGram wants rapidly expansion of XRP for cross-border payments
According to the Daily Hodl, in a new interview at Fintech Week 2019, Ripple CEO Brad Garlinghouse shared the need to rapidly expand the world’s use of XRP for cross-border payments. He revealed that MoneyGram’s CEO W. Alexander Holmes wanted to know how quickly Ripple can expand its XRP-powered payment solution called On-Demand Liquidity (ODL) to new markets. In his words:
“I got a call from the CEO of MoneyGram two weeks ago. And he’s upset with us because we’re not moving fast enough. That was an unbelievable [call]. He wants us to launch On-Demand Liquidity, formerly known as xRapid, in more markets more quickly because they’re having such a good experience with Mexico that they’re like, ‘Look, we want to spread this more quickly, more aggressively.”
At the moment, On-Demand Liquidity is up and running in two places – in Mexico and the Philippines. The CEO also hinted that XRP is looking at Argentina, Brazil and a number of Asia-Pacific countries for the next destinations. For those who are not aware, earlier this month, Ripple renamed their xRapid to On-Demand Liquidity, reasoning that it is a part of the bigger strategy to focus on Ripple as a payment network.
TRON will partner with a $100-billion megacorporation this week
According to a report on Cointelegraph, Justin Sun, the founder of the cryptocurrency platform TRON, said that he will be in a partnership with an unnamed giant corporation. His tweet read:
“#TRON will partner with a hundred billion USD megacorporation next week. It will not only benefit $TRX but all TRC10&20 tokens including $BTT & $WIN etc. It will broadly distribute #TRON Dapps and tokens to billions of customers. TBA. Make a guess?”
While the megacorporation Sun mentioned still remains unnamed, many believe that he is going to cooperate with Samsung. This guess seems to be reasonable as this collaboration would likely bring TRX and TRC20 tokens to the Samsung Blockchain Wallet, which is available on the Samsung Galaxy S10. But that’s not all. Samsung has been actively partnering with companies and projects since launching the wallet, with the most recent being Axie Infinity, an Ethereum-based collectibles game with PvP battles.
Bitcoin soared 42%, biggest daily gain since 2011
Bitcoin has just made an 8-year record concerning its daily gain with an unbelievable 42% soar, peaking at the $10,500 mark. So this is what happened at the weekend. Last Saturday was an absolute roller coaster for Bitcoin prices (BTC). Earlier last week, BTC swiftly dropped by 10% after failing to hold above the $8,000 mark. The liquidation of $150 million shorts at BitMEX may have been the main force that pushed BTC to jump from $7,450 to $8,600. While many people expected a consolidation, it is surprising to see that Bitcoin gathered up enough power for a final rally, pushing its price far above the $8,800 resistance to the $10,540 mark. According to Cointelegraph, over the short-term, it’s possible that Bitcoin could pull back to the upper arm of the descending channel at $9,360. This point also aligns with the upper arm of the Bollinger Band indicator and after strong upside moves the price has a tendency to settle near the top arm and the middle moving average of the indicator.
Altcoins skyrocketed after BTC prices Soar
Last but not least, with the sudden surge from BTC, many other altcoins have also followed a similar trend with some major coins posting double-digit gains. According to Cointelegraph on Oct 25, the major altcoin gainers were Bitcoin Cash (BCH), Bitcoin SV (BSV) and EOS, with 20.5%, 20.08% and 15.21% surge in value respectively. In a recent post on Cointelegraph, Ether’s price reportedly had a 30% weekly gain. XRP was also undergoing significant daily gains, up by over 8% at press time. On the other hand, some more positive for Tether, looks like the Tether altcoin is getting more and more adoption as a payment method thanks to its capability to reduce price fluctuations. With the rise of digital assets, a professor at Stanford Graduate School of Business claimed that within the next decade, cryptocurrencies will put an end to the windfall that banks currently enjoy from low-interest deposits and costly cross-border transactions.
And there you have it guys! What are your thoughts regarding the news?
Do you think it is a good time for Ripple to expand is product?
Who’s the megacorporation TRON will be partnering with?
Will Bitcoin make another rally back to the $10,500 mark?
Please leave a comment right below to let me know what you guys are thinking.
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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.