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Real-World Adoption of Ripple and XRP, Bitcoin vs. Altcoins, and Tron’s Wild Crypto Ride

January 17, 2019

Ripple and XRP in Action

The foreign exchange service Mercury FX has revealed its largest commercial payment sent through Ripple’s XRP-based xRapid.

The company says it used xRapid to send a payment of $4,574 from the UK to Mexico. The payment executed in a matter of seconds compared to the 31 hours it would normally take on traditional payment rails. The fees were also dramatically reduced, saving a total of $102.

1/1 We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds. pic.twitter.com/WsHJuZTiOy

— Mercury Global (@mercuryfxglobal) January 17, 2019

Bitcoin vs. Altcoins

Etoro senior market analyst Mati Greenspan is offering an explanation for why a number of altcoins have rallied while Bitcoin moves sideways.

Greenspan told Forbes that news on smaller projects can have a bigger impact when Bitcoin lacks its traditional volatility.

“There will always be some level of correlation in broad markets. Over the longer term these particular coins are still tightly correlated to bitcoin.

That said, when you have a news story that highlights a development, it can cause these sudden leaps. What we’re seeing now is the effect of a flat market—the overall sentiment noise is dying down so individual token developments are getting more attention.”

Tron’s Wild Ride

Tron just kicked off its two-day Nitron Summit in San Francisco. Former NBA superstar Kobe Bryant is the headline speaker, and will take the stage tomorrow afternoon.

Ryan Selkis, CEO at crypto research company Messari, told Bloomberg that people are still trying to figure out what to make of Tron and its outspoken leader Justin Sun.

“A lot of people wrote off Tron as all hype/marketing and no substance, but they made a lot of noise with the BitTorrent acquisition, and now I think it’s an open question of whether they will be one of crypto’s most high profile ‘fake it til you make it’ success stories. It’s been wild to watch.”

Tron continues its quest to rival Ethereum. The platform, which left the Ethereum blockchain to launch its own mainnet last June, now has 107 decentralized apps compared to Ethereum’s 1,347, according to DappRadar.

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