What A Week For IOTA, XRP And USDT

For the first time in a very long time (what almost feels like living memory) the cryptocurrency markets have seen a slight surge this week, pleasing investors across the globe. Now, it’s still early days, we can’t really see the full scale of this surge and indeed, correction is sure to take over again, but, at the very least it does remind us that cryptocurrency still has the capacity to grow, at a fantastic rate too.

The news has been rushing out this week - even leading up to the inevitable holiday’s downtime and it’s all thanks to the positive markets, so, let’s take a look at what’s happened.

XRP

It’s been another great week for XRP which has embarked on a number of short surges. Granted, this might not have lasted as long as investors would like it to have, however it’s still great to see XRP moving in the right direction. In terms of news, XRP has hit the headlines on numerous occasions, namely involving news from Brad Garlinghouse, the CEO and Western Union.

According to reports, Garlinghouse has recently spoken out to the anti-XRP crowd, stating that it’s pretty clear that XRP is not a security:

“Brad Garlinghouse, CEO of Ripple recently sat down in an interview with the head of marketing at Ripple, Monica Long in an ‘Ask Me Anything’ session. There were several questions asked about the startup regulations, the current state of the crypto markets, XRP and more. During the eventful discussion, Garlinghouse was questioned by Long about whether the native token of Ripple, XRP is security or not and to this, the CEO blatantly clearly stated that XRP is clearly not a security.”

Furthermore:

“Garlinghouse continued to say that XRP exists separately from the company, which has created products like xCurrent and xRapid which makes use of XRP to facilitate cross-border settlements. Garlinghouse went onto say that there is a whole bunch of base layer reasons for that. One of the most important I think is… if Ripple the company shuts down, XRP trades on over a hundred exchanges around the world and XRP will continue to trade.”

With regards to Western Union, this Thursday the money transfer service released a new video that hints at a big move towards cryptocurrencies within the current XRP operations. If this is true and Western Union are planning on branching out into crypto then it’s pretty likely that their currency of choice will be XRP, if not based on XRP, since Western Union and Ripple already have a strong working relationship.

Or perhaps, it’s all just speculation.

IOTA

The Internet of Things giants IOTA have made progress this week with announcements involving their partnership with German car manufacturer, Audi. IOTA and Audi have been working together for a number of months, now, a statement has been released that suggests the work from the pair is going well. Results of a number of projects between Audi and IOTA have been screened to a select audience in Berlin.

“The IOTA Foundation and the car manufacturer decided to go on an adventure to explore the opportunities of the IOTA Technology in order to fix real-world issues in the automotive space, Internet of Things (IoT) and mobility. Now, it has been five months since the two firms started this journey and the team has shown off its work to an exclusive crowd in Berlin and Ingolstadt. The Foundation has claimed that the presentation was a success, and it was yet another example of the importance to explore new technologies like IOTA with a customer-centric approach.”

We expect more exciting news to come from this partnership as let’s face it, it’s a pretty big one.

USDT

Tether, the team behind the USDT stablecoin has been deep in controversy over the past few months with claims that Tether did not have enough money to back their full production of USDT tokens. For context, USDT is pegged to the US Dollar, so is always equal in value. In order for this to happen though, there needs to be the same amount of USDT as their is US Dollars in Tether’s bank account. Many have accused Tether of not actually having enough money to back the maintenance of their token, however, Bloomberg have recently found that some statements made by Tether which claim they do have enough money in the bank, could actually be true.

“As a direct result of this uncertainty and FUD, USDT has remained a very controversial subject through the end of 2018, people are questioning the integrity of Tether and the general consensus worries that trust could be an issue in all of this. In order to scrape back some of its reputation, in november 2018 Tether announced that they did indeed have the funds to back all USDT tokens, with a claim that they had $1,831,322,828 in the bank.”

This week, it has been confirmed that this statement is most likely true!

Crypto Revolution Giveaway

Have you heard? Crypto Daily have launched their latest Ethereum giveaway, one that is set to inspire the start of a new crypto revolution!

Click here for more information

Click here to take part!