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Ripple Price to Go ‘Ultra Bullish’, Says Analyst, As Justin Bieber 'Runs On Ripple' on Instagram

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Fri, 11/01/2019 - 11:33
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  • Crypto analyst 'Crypto Welson' states that he is ‘ultra bullish’ on Ripple’s XRP since the accumulation phase is over; meanwhile, Justin Bieber #RunsOnRipple

Cover image via www.instagram.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Crypto analyst @CryptoWelson from expects a massive FOMO (fear of missing out) on XRP soon and states that he is ‘ultra bullish’ on the price.

'The FOMO will be something we've never seen before'

2018 was the accumulation year for XRP and now, the analyst says, after the numerous partnerships initiated by Ripple, the price of the coin is highly likely to surge.

Recently, Ripple indeed took some big steps to reach new milestones for its expansion. Many new banks and payment systems were signed up to the RippleNet, including PayPay in Japan with its 10 mln users and 1 mln merchants. Ripple also acquiried a large stake at MoneyGram and launched On-Demand Liquidity.

Ripple has also set up a new office in Washington, DC to be closer to the US regulators and conduct a fruitful dialogue with them.

Investor sells 4.5 Mln XRP over strong disbelief

However, some are still in doubt regarding the prospects of XRP on the market. A trader and investor @TheCryptHawk has written  that he has sold his XRP stack totaling 4.5 mln, basically implying that he does not believe in the potential of Ripple and XRP any more.

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Justin Bieber #RunsOnRipple

The @BankXRP user has posted a video that he says he came across on the official Instagram account of Justin Bieber. In it, Bieber is running along popular tourist locations and his running figure is embedded into some famous movie scenes, such as Pirates of the Caribbean and Trainspotting. The phrase 'Runs on Ripple' is clearly seen on the video.

Earlier this year, U.Today reported that Ripple’s Xpring planned to back the celebrity manager Scooter Braun, who worked with Justin Bieber and Ariana Grande. with a jaw-dropping investment of $500 mln.

 

What are your thoughts on Justin Bieber getting involved with Ripple? Feel free to share them in the comment section below!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin (BTC) Ecosystem Healthier than 2014 and BitMEX Research Explains Why

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  • With COVID-19 being the main hellraiser for the last weeks within blockchain space, the BitMEX derivatives exchange has brought some good news about Bitcoin (BTC).

Cover image via stock.adobe.com
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BitMEX Research, an analytics branch of the BitMEX crypto derivatives exchange ecosystem, attempted to figure out who are the most influential and productive Bitcoin (BTC) developers.

Blockstream and Lightning Labs are Most Generous

First of all, analysts at BitMEX research studied the funding of open source developers working on Bitcoin (BTC) or the Lightning Network, the second-layer scalability solution working atop the flagship blockchain. Below is the chart that includes only developers with known sources of funding:

Current funding of open source developers working on Bitcoin or Lightning – number of developers
Image by BitMEX Research

It looks like the Canada-based company Blockstream shares the first position with Lightning Labs Inc., which based in San Francisco. The later team recently raised $10 million in Series A financing from Slow Ventures, Ribbit Capital, and other private investors.

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Jack Dorsey's Square Crypto is in third place. The company is passionate about Lightning development as an on-board pseudonymous developer, which is well-known for its contribution to this infrastructure. 

Independent Devs on the March

In the second part of their research, the analysts tracked the GitHub committing activity in Bitcoin Core's repositories. Based on their research, it appears that the independent developers surpass their corporate competitors by a wide margin.

Current funding of top 33 Bitcoin Core contributors by number of commits
Image by BitMEX Research

These results allowed BitMEX Research to conclude that the Bitcoin (BTC) development ecosystem is the following:

is in a reasonably strong situation with respect to developer funding, based on metrics such as the distribution of funders and transparency. 

This is in comparison with the initial stage of Bitcoin (BTC) adoption in 2012-2014, when the Bitcoin Foundation was the one and only significant contributor.  Nowadays, diversity has brought funding sources, which in turn, has upgraded the decentralization and development process of Bitcoin (BTC) software. So, according to the researchers:

the situation is more healthy than it has been in the past

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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