It has been another crazy week for crypto investors across the board. The markets have remained in a very volatile position through November, now, as November draws to a close, we are finally starting to see some sort of balance. I say balance… the markets are still very unsteady, at best though I would like to think that the wave of November has now passed. As we enter 2019, we should start to see crypto head back up to more exciting and more familiar territory.
With all of this in mind, the news continues to roll on through and many major cryptocurrency projects have broken headlines once again with advancements in their projects and their technologies. What this proves is that even when things are looking bleak, the brains working behind the scenes to power this industry are constantly working, working hard to achieve goals and working to make their crypto the very best there is. This week, XRP, ETH, BNB and NEM have made an impact.
We have seen XRP hit the headlines this week as a result of a move of a vast amount of XRP tokens, which has broken records for it’s incredibly low transaction cost. One of the things that prides Ripple’s networks is that their fees are kept low as a result of efficiencies within their blockchain, this is now all the more evident according to recent reports.
Bithumb are alleged to have recorded a transaction of 1 billion XRP tokens which moved for a fee of just 0.000012 XRP, but a fraction of the overall transaction amount.
We do see moves like this on a regular basis, each time this happens it proves just how fast, reliable and scalabile the technology that XRP is built upon, really is. Frankly, with these figures in mind, XRP really is starting to look unstoppable.
Likewise, Ethereum has hit the headlines this week. Indeed, recently we have seen Ethereum move down the market rankings as a result of the November cryptocurrency crash. Prior to November, Ethereum was always considered to be the second biggest cryptocurrency as a result of its high market capitalisation. Since November however, XRP has managed to rack up a big chunk of the market and now sits within Ethereum’s second place, leaving ETH to fall down to third place. Even so, this hasn’t stopped Ethereum hitting the headlines once again this week.
A dApp built on the Ethereum network has hit the headlines as a result of their new move to pay out large ETH bounties to people living in the Philippines. This is being carried out to inspire citizens to act fast and clean up polluted beaches in the area. It’s an environmental clean up drive that is having a great impact on the local community in Manila and is also allowing Ethereum to flourish as a bounty token.
The Bounty Network on Ethereum have established this latest incentive to drive the use value of blockchain technology in the Philippines. As reported by Crypto Daily, a spokesperson from the dApp has stated:
“Plastic pollution costs the lives of 1 million seabirds and 100,000 marine mammals per year. Fish eat plastic, and we eat the fish. Plastic causes $8 billion in damage to marine ecosystems each year. With Bounties for the Ocean, we are asking people everywhere to submit verifiable proof of their direct plastic cleanup contribution as a way of fostering widespread and long-term behavioural shift. Do not depend on centralized organizations, go out there and do it yourselves.”
Similarly to the recent XRP news, Binance have reported a huge move of BNB, Binance Coin tokens. Within this, it is alleged that 98,700,100 BNB we’re transferred out of an anonymous Binance wallet for a fee of just $0.03. What does this mean? Well, is BNB placing itself as a true competitor for XRP when it comes to low transaction fees? Maybe so.
The interesting fact about this news is that this transfer has caused a shift of almost all the circulating BNB coins to leave just one wallet, even so though, whatever has happened here proves that with blockchain technology, it’s possible to transact half a billion tokens in less than a minute for a fee of just $0.03.
As the markets turned red and as Bitcoin plummeted, NEM XEM somehow continued to climb earlier this week. The climb eventually settled down, but it didn’t stop the NEM project hitting the headlines as a result of this.
As reported by Crypto Daily:
“It was also recently announced by NEM that they have signed up for a partnership pact with UAE, Ministry of Community Development. For both parties, they will be able to share important information, knowledge and updates on emerging technologies in the blockchain according to to the signed the pact. With this partnership, NEM and MOCD will be connected with citizens of UAE. With this adoption of NEM, the public of UAE will be able to have a closer look at what blockchain is and how it impacts the technical world.”
Now, it does seem evident that this sudden surge in the price of XEM was as a result of a surge in the popularity of XEM and the NEM project within the UAE, though we are pretty sure other positive factors have also played a part in this too.
As you can see, once again it has been a huge week for cryptocurrencies, off the back of what looks to be one of the most crucial months for the markets yet, November 2018.
Crypto Daily Ethereum Giveaway
We have now drawn our first Ethereum giveaway to a close, a winner will be selected on Monday the 3rd of December from a video uploaded between the 15th of November 2018 and the 30th of November 2018. One winner will be selected at random from the comments. Tune in on Monday to see the prize draw.
If you have entered the competition, good luck! If not, then remember it’s not too late to take part, just comment on any video uploaded between the 15th of November and the 30th of November, also, make sure you are subscribed to the channel.
Don’t forget that our latest competition is now live too, head here for all of the details!