Bitcoin Attractive In Both Short And Long Term

XRP excites you and me - David Derhy, analyst, eToro

The standout performer in the altcoin space of late has been XRP (XRP-X). Currently sitting at $0.462, it has risen from $0.269 last Monday. Alt coins in general are benefiting from an uptick in bitcoin price and also the upcoming snapshot of spark tokens from the Flare Network on the XRP ledger would have had an influence on this XRP’s gain. 

In 2017, XRP was one of the other cryptoassets to benefit from the extraordinary bitcoin bull run, hitting a high of $3.84 on 4th January. No doubt investors, seeing the positive moves that bitcoin has made this year, are expecting XRP to replicate its performance from late 2017 and early 2018 – although I doubt they’ll be wishing to see the subsequent end-of-January plunge repeated in the same manner. 

Battle of the Dapp platforms - Simon Peters, analyst, eToro

One of the key battles I’m seeing play out over the next few years is the fight to be the leading platform for decentralised applications, with Cardano and Ethereum currently going head-to-head. Whilst in my opinion Ethereum has the upper hand at the moment, I don’t think its position as market leader is necessarily a given. Cardano has arguably been taking leaps in recent times such as upgrading to the Shelley mainet and now work on Goguen, its next phase, whilst Ethereum takes steps in its transition to 2.0. 

For the Ethereum 2.0 Phase 0 - beacon chain genesis to occur, there needs to be 16,384 validators, each with 32 ETH staked. At the current pace I really can’t see this happening before the planned launch date of 1st December, especially as the target needs to be met seven days before (24th November 2020). That’s tomorrow, and the current amount of ethereum (ETH-X) staked is only at 54% of the target. So why hasn’t enough ETH been staked yet? Perhaps the majority are waiting on the sidelines and once the beacon chain is secure and stable look to participate then. But we find ourselves in a catch-22 because the deposit contract cannot launch until enough ETH has been staked.

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Disclaimer: This article should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been ...

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