Another week, another crypto. This week has been an exciting one, even though the market has calmed down a bit from last weeks short bull run there’s still been a lot going on in the crypto space. This week saw Litecoin join the kickboxing world, the TRON CEO, Justin Sun giving his prediction on the Bitcoinprice for 2019 and several rumours come about in regards how long Ripple (XRP) might last on Coinbase.
Kicking it with Litecoin
As we reported on 27th February, the Litecoin Foundation will be partnering up with the premier kickboxing league Glory which will make them the official cryptocurrency for their online merchandising and worldwide event platforms.
The Litecoin Foundation recently announced the news which shows that Litecoin will start to be available on the Glory online store. In addition to this, the kickboxing league will allow fans in the US and Europe to utilise Litecoin to purchase several privilege things in relation to the sport. For example, premiere in arena seating, arena tours, backstage passes, meet and greets with the athletes and so on.
Charlie Lee has given his thoughts on the announcement and said that there is now potential for the crypto adoption to get pushed even further. The Founder of Litecoin said:
“GLORY has a growing worldwide fan base that consists in large part of a younger demographic who are early adopters of technology and conduct much of their lives online – from consuming content to purchasing products. […] Tapping into their global audience and educating them about Litecoin through real world use cases can be powerful.”
This will hopefully get more people on board with Litecoin and crypto which is a great step towards mainstream adoption for the industry.
Predictions for Bitcoin
As many of you will already know, Justin Sun is the founder and CEO of the decentralised platform that is TRON. Like many other key figures in the crypto space, Sun has now given his price predictions on the leading cryptocurrency but it isn’t as bullish you’d think…
When it comes to Sun, he doesn’t usually talk about other crypto projects and platforms but he recently took part in an interview with Hyoxing24 where he predicted that Bitcoin would be trading somewhere between $3,000 and $5,000 for the rest of the year.
This isn’t news that a lot of people wanted to hear but it’s still an improvement on the current prices, despite last weeks bull run.
Sun is a big believer that the mainstream appeal of Bitcoin will get a lot stronger this year. We are still waiting for it and the community is just itching to get into the mainstream which will see hundreds of investors making a lot of gains and blockchain technology getting more traction by from the rest of the world.
The BTC prediction from the TRON CEO seems to be on target despite the crypto community wanting to hear some more bullish predictions than a $5,000 price for Bitcoin, it isn’t going to have investors shouting ‘cowabunga!’ but it will build up the much-needed enthusiasm that the crypto space needs after a long and bearish year in 2018.
Is Ripple Destined to leave Coinbase?
Even though it was only just announced that Ripple’s native token XRP would be getting listed on Coinbase Pro, the token might not be staying for long on the platform.
Rumours surfaced earlier this week that XRP could be violating one of the rules Coinbase has put in place for cryptocurrencies. Specifically, the ownership stake by the team must be in the minority and Ripple is exactly the opposite of this. This is down to 60 percent of the XRP circulation being hodled by Ripple (this also sparks the argument that XRP isn’t a truly decentralised asset).
The US-based crypto exchange released their ‘Digital Asset Framework’ which lays out the rules that token must follow in order to be listed on the Coinbase exchange.
The rule in questions states:
“The ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically incentivized to improve the network into the future.”
The token was made available for investors on Coinbase Pro but only on a limited basis and has been paired with the euro, US dollar and Bitcoin in addition to certain places in the UK, US, Singapore, Australia and supported EU nations.
So will Ripple be allowed to stay on Coinbase despite this the breach of this regulation? Who knows, but it will be interesting to see Coinbase let them off the hook.