Ripple’s XRP has climbed to an additional ten percent (10%) on its market capitalization in the last 24 hours. This development has also sent both Bitcoin and Ethereum higher as Brad Garlinghouse, Ripple’s Chief Executive, divulge some news that it will partner with its industry rival, Swift, to be back on the groove.
It is not a secret that Bitcoin and other cryptocurrencies have struggled in the last two years. Different transitions have gone through the sector; thus, also affect some movement or pricing and rates in the digital financial market.
Ripple’s XRP prompted the jump for Bitcoin of up to one percent (1%) and Ethereum to 3.5% over the last 24 hours. It triggered Bitcoin to rise back to its more than $2 billion market capitalization period with an additional six percent (6%) to its current.
The partnership with Swift will add to the company’s effort to power-up the business. It has a network of more than 10,000 financial institutions and circulates $200 billion globally every day.
Newest Samsung Galaxy S10 to feature cryptocurrency wallet
Samsung is soon to unveil its newest Galaxy smartphone, the Samsung Galaxy S10. The smartphone and its complete specifications and other features are set to reveal on February 20, during the Samsung UNPACKED 2019 event. The smartphone is making a buzz in the industry because it is said to have a cryptocurrency wallet as one of its unique features.
Aside from the many upgraded features of the Samsung Galaxy S10, people are curious about its crypto wallet. Many analysts and industry officials have reckoned that the feature will help popularize the use of cryptocurrency more.
Samsung is also said to have a cold wallet or hardware wallet that people can able to store Ethereum, Bitcoin, and other cryptocurrencies of their preference. An internet-connected wallet is ready for Samsung Galaxy S10 users to utilize.
Why Genesis earned more than $1 billion in Ethereum, Bitcoins, and XRP Loans
Genesis Global Capital, a Bitcoin lending firm, made $1.1 billion in lending cryptocurrency in 2018. It could be surprising for investors and other coin users because of the stature and movement of Bitcoin and Ethereum. While there have been some transitions and falling off in the market especially last year, Genesis created revenue through selling and charging interest rates to crypto entrepreneurs and hedge funders to ensure their wallets stay cash positive despite the challenges in the market.
The Bitcoin’s encounters in the negative line in 2018 has made crypto owners, and entrepreneurs doubt the market’s ability to continue with the digital currency. Given this need, Genesis made leverage by lending to trading firms and hedge funders in a ‘spot’ borrowing scheme with interest and crypto business as collaterals. Loans ranged from $153 million up to at least $23 million in the third-quarter of 2018.
Genesis made a good business being support or a lifeline to crypto businesses that are challenged by the digital financial market’s instability. It might sound risky, but the company has made through the year earning more than $1 billion worth.