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Peter Schiff Blasts MicroStrategy’s Latest Bitcoin Purchase, Says BTC More Downside Would Make Saylor Waste More Money

Lele Jima
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Peter Schiff Blasts MicroStrategy’s Latest Bitcoin Purchase, Says BTC More Downside Would Make Saylor Waste More Money

 

Peter Schiff Blasts MicroStrategy’s Latest Bitcoin Purchase, Says BTC Will Soon Resume Price Decline.


The American stock broker has slammed MicroStrategy’s recent Bitcoin purchase. Peter Schiff has lashed out at leading business intelligence company MicroStrategy for its latest Bitcoin purchase.  

The well-known Bitcoin critic took to Twitter to slam MicroStrategy and its CEO, Michael Saylor, for recently acquiring more BTC, which he describes as a waste of funds. 

Schiff Slammed MicroStrategy

Schiff was surprised that MicroStrategy was still willing to commit more funds to the top asset class despite the losses the company has incurred via investing in Bitcoin. 

“So [MicroStrategy share] is down $1.4 billion on Bitcoin, yet you continue to average down, throwing not so much good money after incredibly bad,” Schiff said in a comment directed at Saylor. 

The popular financial commentator added that due to MicroStrategy’s recent accumulation of Bitcoin, the price of the world’s largest cryptocurrency by market capitalization would continue to decline until the company is tempted to throw in more funds again to get more losses. 

“For buying BTC, its price would be lower. But now that you’re done, the decline can resume until you waste more money buying again,” Schiff noted in a tweet.

Another well-known Bitcoin critic CryptoWhale says that Saylor is losing confidence in his BTC buying as MicroStrategy BTC dip buyings are getting smaller.

“Michael Saylor’s MicroStrategy just purchased another 480 #Bitcoin, making it their smallest $BTC purchase ever. Even they are losing confidence. Also, them buying here is a clear bear signal and confirms we’re going much much lower than 20K.”

MicroStrategy Buys More BTC 

Earlier today, Saylor announced that MicroStrategy had increased its Bitcoin holding by purchasing an additional 480 units of BTC worth around $10 million. The company stated that each unit of Bitcoin was acquired at the rate of $20,817. 

MicroStrategy’s Bitcoin accumulation brings the company’s BTC holding to a whopping 129,699 BTC. It still maintains the top position as the public company that owns the largest investment in the asset class. 

MicroStrategy is not prepared to slow down on its Bitcoin acquisition, as the company continues to take advantage of falling prices to increase its BTC holdings. 

Saylor Not Worried About Schiff’s Comments

Interestingly, Schiff’s negative comments cannot deter MicroStrategy and Saylor from buying more BTC when the opportunity arises. 

Saylor has not failed to profess his unwavering support for BTC, as he believes the cryptocurrency will ultimately provide a hedge against inflation. He also noted that Bitcoin would reimburse traditional investors robbed by inflation. 

VeChain To Launch A New Kind Of Inventory Monetization System Combining Stablecoins, Web3 And NFT Technology

Mark Brennan
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VeChain To Launch A New Kind Of Inventory Monetization System Combining Stablecoins, Web3 And NFT Technology

VeChain (VET) Partners with Supply ME Capital to Launch a Web3 Inventory Monetization System This Year.


Leading blockchain project VeChain Foundation has announced a strategic partnership with Supply@ME Capital plc as part of an effort to develop a Web3 Inventory Monetization System.

VeChain noted in an announcement that the initiative would utilize stablecoins, blockchain, and non-fungible token technology to aid credit-worthy businesses and enable them to raise capital for their day-to-day operations.

“The VeChain Foundation is proud to pioneer cutting-edge blockchain applications. In our strategic alliance with @SupplyMECapital, we’re building a new kind of ‘Inventory Monetization’ system, uniting NFT technology, Stablecoins & Web3.”

The System Will Roll Out in December

The collaboration has been broken down into two important phases. Notably, the first stage of the partnership has already commenced, and it is expected to end by the end of next month.

Under this first phase, a proof-of-concept platform will be developed, and it will be able to complete blockchain transactions from Supply@ME clients’ portfolios to Italian-based companies using the VeChainThor blockchain.

Upon completion of the first phase, the necessary analysis and review will be done to ensure everything is implemented according to plans. The second stage of the partnership will commence immediately and span until December 2022.

During this phase, the full inventory monetization platform should be ready on or before December 2022. The platform will be equipped with complete Web3 features, including non-fungible tokens, decentralized applications (dApps), B2B marketplaces, etc.

Furthermore, the VeChainThor network will be adopted to mint various digital collectibles in the second phase. At the same time, the Inventory Monetization Platform transactions will be funded by multiple liquidity providers, including retail investors and crypto asset managers.

“We are delighted to have reached this important milestone, eagerly anticipated by ourselves and our shareholders, to secure the first Inventory Monetization transaction. Given the innovative nature of our product offering, the digital asset world is an ideal provider of funding for our unique asset class,” Alessandro Zamboni, CEO of Supply@ME, said.

Aim of the Collaboration

The main vision of the partnership is to establish a new fintech platform that will be adopted by manufacturing and trading companies that seek to obtain cash flows through a non-credit method without incurring debt.

Commenting on the development, Sunny Lu, CEO of VeChain, said the blockchain company is always looking forward to collaborating with innovative firms like Supply@ME that foster the development of digital technology.

“We recognized the same potential in Supply@ME and their novel tradFi-Defi inventory management service. We look forward to working with them to co-develop these new systems and provide businesses with an entirely new method of raising value from Inventory Monetisation,” Lu said.

The development came a few weeks after VeChain announced its first-ever sports partnership with UFC.

Coinbase Commerce Adds Shiba Inu, Making It Possible For Merchants Across Globe To Accept Shib As Payment

Zabi
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Coinbase Commerce Adds Shiba Inu, Making It Possible For Merchants Across Globe To Accept Shib As Payment

Merchants Across Globe Can Now Accept Shiba Inu.



Shiba Inu (SHIB) along with six other cryptocurrencies can now be accepted as payment by Merchants through Coinbase Commerce.

On Tuesday, Coinbase, the leading cryptocurrency exchange platform announced two major updates to its Commerce platform.

In a recently published blog post, the NASDAQ-listed company confirms that the platform has now enabled retailers to enjoy instant payments with no fees. Coinbase merchants will receive instant payments without delay, making online and in-person payments even more seamless.

The development comes after the exchange received a bunch of feedback from its consumers saying that processing fees was the top reason they choose not to pay in cryptocurrency, while One of the most prominent disadvantages for retailers looking to accept crypto was price volatility. To overcome the difficulties of consumers and merchants Coinbase introduced instant payments with no fees to avoid price volatility and high fees.

The official blog post also states that the instant crypto payment along with auto conversion to fiat currency option will definitely help the Coinbase merchants to ensure that they are receiving the right amount from the payer.

The blog post reads:

“One of the biggest drawbacks for merchants looking to accept cryptocurrency is price volatility. Instant transactions (10 minutes or less) along with auto conversions to fiat currency can help to ensure that you are receiving the right amount from the payer.”

Merchants Can Now Accept Shiba Inu and Six Other Cryptocurrencies as Payment:

Coinbase has also added support for seven new crypto assets on the Commerce platform. The list of new cryptocurrencies includes Shiba Inu (SHIB), Dogecoin (DOGE), Apecoin (APE), Dai (DAI), USD Coin (USDC), Bitcoin Cash (BCH), and Litecoin (LTC).

With these new additions, the Coinbase Commerce platform now supports a total of 10 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

British Court Orders Three Arrows Capital’s Liquidation

Mark Brennan
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British Court Orders Three Arrows Capital’s Liquidation

Three Arrows Capital’s liquidation has been ordered by a court.



According to a report from Sky News, Three Arrows Capital, a hedge fund mostly concentrated on cryptocurrencies, has declared bankruptcy, further exacerbating the crisis sweeping the global digital assets market.

Sky News writes:

“A court in the British Virgin Islands has ordered the liquidation of Singapore-based Three Arrows Capital, underlining the crisis gripping the cryptocurrency sector.”

The company’s bankruptcy in Singapore, established in 2012 by Su Zhu and Kyle Davies, will be managed by partners from Teneo Restructuring in the British Virgin Islands, who has been lined up to take on the task.

This claim comes only a few days after Voyager Digital began making good on its pledge to hunt after crypto hedge fund Three Arrows Capital (3AC) for owing money after the crypto broker was said to have given 3AC $350 million in the stablecoin USDC and 15,250 Bitcoin, which totals over $650 million at today’s rates.

The demise of 3AC would surely raise concerns about the regulatory framework for the crypto world to avoid incidents like Terra and 3AC.

In related news, Voyager said on the 22nd that it has submitted an application for partial repayment of $25 million USDC by the 24th. In addition, it said that it requested complete payback by the 27th of June; however, it seems that none of these demands has been honored, which led to the issuance of the default notice and strengthened accusations that 3AC is bankrupt.

It was not obvious what the immediate repercussions would be for the creditors of Three Arrows from a financial standpoint.

However, as a result of the company’s bankruptcy, further concerns are likely to be raised regarding the regulatory monitoring that cryptocurrencies and other forms of digital assets are subject to in the most important financial centers across the globe.

In addition, a research company known as FSInsight said on Friday in a study that examined the repercussions of the failure of the cryptocurrency hedge fund known as Three Arrows Capital that the cryptocurrency hedge fund was operating as a ponzi scam.

Santiment: Terra Luna Classic (LUNC) 107% and USTC 320% Sudden Uptick Might Reawaken Interest Soon

Mark Brennan
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Santiment: Terra Luna Classic (LUNC) 107% and USTC 320% Sudden Uptick Might Reawaken Interest Soon

 

Santiment Reports Terra Classic (LUNC) and USTC Recent Surge Can Revive Interest In Coins Soon.


According to research by the crypto analytics company, Santiment, TerraClassic (LUNC) and TerraClassicUSD (USTC) have been almost ignored by the cryptocurrency community for the previous two to four months. 

Nevertheless, the increases of +107 percent and +320 percent, respectively, in LUNC and USTC during the course of the last 55 hours are something that may soon warrant further notice.

Santiment tweet says:

“TerraClassic and TerraClassicUSD have been all but abandoned by the crypto community over the past 2-4 months. However, LUNC‘s +107% and $USTC‘s +320% respective rises in the past 55 hours are something that may merit increased attention soon.”

 

Despite the increase in LUNC and USTC prices at the end of this month, the number of people who follow LUNC on Santiment continues to decrease.

According to the cryptocurrency market data aggregator CoinMarketCap, the number of people who owned LUNC started to increase at the same time that its price began to rise, which was about the same time that USTC prices also began to rise.

From the 26th of June till around the 29th of June, the number of people who had the LUNC token rose from 10,006 to 10,349. This is a rise in LUNC holders of around 1.41 percent.

Furthermore, a recently initiated metaverse venture known as StarShip has disclosed that it would be incorporating LUNC into its ecosystem. It will be one of the methods of payment that is acceptable to use.

The company plans to burn the 1.2 percent of Terra Classic tokens it has received as payment. This action will undoubtedly contribute toward lowering the quantity of the current tokens in circulation.

This current pattern has allowed Terra’s recently released LUNA 2.0 to achieve an increase in pricing. The price of LUNA has increased by 15 percent in the last twenty-four hours, and it is now trading at an average price of $2.57. Despite this, it is still 86 percent lower than its all-time high price of $19.4, which was reached earlier.

Terra Luna Classic (LUNC) Accepted as Payment in StarShip Universe, Also 1.2% of All LUNC Payments To Be Burnt

Mark Brennan
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Terra Luna Classic (LUNC) Accepted as Payment in StarShip Universe, Also 1.2% of All LUNC Payments To Be Burnt

 

Terra Luna Classic (LUNC) is accepted as payment inside the StarShip Universe with a 1.2 percent tax burn in the largest new metaverse, StarShip Universe.



As a result of UST’s depegging from the dollar, the stable coin LUNA was forced to issue billions of its partner tokens to preserve equilibrium algorithmically. Billions of dollars in worth were wiped away in days due to this supply glut, leaving many investors with an unpleasant reality.

They believed that Terra would react by burning some of the extra LUNA to restore the peg and hence restore the value of their currency (LUNA). 

In place of this, a hard fork was announced that would identify LUNC as the originating token with the initial supply and stablecoin pairing and create a new token, LUNA, with a supply of 1 billion and no stablecoin coupling.

Most validators voted in favor of the hard fork, which was released on May 28th. However, most token holders redoubled their request to burn the surplus supply instead, despite the plan being backed by a majority of validators.

StarShip just released a teaser showcasing gameplay footage from the next, biggest metaverse ever created.

The MetaUniverse’s 32,000 square kilometers of buildable area, powered by the new Unreal 5 engine, provides an unprecedented chance for long-term development and expansion.

According to the press release, StarShip’s collaboration with LUNAC has led to the implementation of the cryptocurrency as a payment method inside its ecosystem, which means that it will burn 1.2 percent of the total amount of LUNC, which is received for these payments.

The press release says, “LUNC will be implemented into the StarShip ecosystem as one form of payment within StarShip Universe, burning 1.2% of all LUNC received for these payments.”

Additionally, the LUNC Prop 3568, which proposed a 1.2% burn tax, was approved by voters on Sunday. To the delight of token holders, this will begin to diminish the number of current tokens when they are traded.

Finding a practical use for LUNC is timely. A new partnership between StarShip and Luna reinforces the basis of their respective ecosystems.

BabyDoge Team Announces Burn Date Of 50 Quadrillion Tokens, All Coins To Be Burned In One Transaction

Zabi
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0
BabyDoge Team Announces Burn Date Of 50 Quadrillion Tokens, All Coins To Be Burned In One Transaction

Shiba Inu’s Rival, Baby DogeCoin (BabyDoge) To Burn 50 Quadrillion Tokens on July 1st.



Shiba Inu’s rival, Baby DogeCoin (BabyDoge), plans to cut 50 Quadrillion of Baby Doge Coins from its supply on the Ethereum chain in one gigantic transaction on July 1st, 2022.

“50 quadrillions burn on ETH chain on July 1st.”

This comes after the first-ever community proposal launched by BabyDoge, on its Birthday. BabyDoge Community overwhelmingly voted in favor of Burning 50 Quadrillion coins at once.

Baby Doge Coin celebrated its first birthday on June 2nd. On Birthday Event, the team behind the third most followed canine-themed cryptocurrency on Twitter burned a whopping total of 3 Quadrillion BabyDoge tokens worth $5,100,000 ($5.10M) in one noticeable transaction.

To make the Birthday more special, the BabyDoge team launched its first-ever community proposal with the name, “Burn 50 Quadrillion on ETH”, which was scheduled to end on June 28th, 2022. In the proposal, the team behind BabyDoge asked the Community to vote on whether they wished to organize a Mega Burn Event of 50 Quadrillion tokens.

The BabyDoge community enthusiastically participated in the voting. The majority of votes were cast in favor of burning 50 Quadrillion BabyDoge in one go.

BabyDoge is one of the most popular canine-themed cryptocurrencies in the world, having a gigantic supply in circulation, i.e., 115.11 Quadrillion, as per data provided by CoinMarketCap.

After almost a year, CoinMarketCap verified BabyDoge circulating supply on the platform.

Since the start of the New Year 2022, BabyDoge has been burning quadrillion tokens every month, but burning 50 Quadrillion coins in one go would be the first and monumental event for the meme coin community.

Till today, BabyDoge has sent a whopping total of 24 quadrillion canine-themed meme tokens worth over $66.2 million to the dead wallet in six months.

21Shares Launches Crypto Winter Products to Protect Investors From Bear Market

Lele Jima
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0
21Shares Launches Crypto Winter Products to Protect Investors From Bear Market

21Shares Launches “Crypto Winter Suite.”


Following the massive collapse of the cryptocurrency market, 21Shares AG has announced a new fund that will help investors remain safe amid the ongoing bear market without incurring further losses.

In a press release today, the largest exchange-traded product (ETP) provider 21Shares said it has unveiled a new financial instrument dubbed the Crypto Winter Suite.

The 21Shares Crypto Winter Suite will give investors new ways to venture into the cryptocurrency space at a relatively low cost for long and short-term strategic allocations.

The new fund will consist of a set of products designed to help cryptocurrency investors weather the ongoing storm of the bear market.

21Shares Creating New Opportunities

21Shares noted that it has already made significant efforts toward protecting investors from the effects of the ongoing bear market as it launches its first product in the Crypto Winter Suite named the 21Shares Bitcoin Core ETP.

21Shares Bitcoin Core ETP made its debut on the SIX Swiss Exchange, under the ticker CBTC, the announcement stated.

Arthur Krause, Director of ETP Products at 21Shares, said:

“Given the current market environment, many investors are looking to ‘buy-the-dip’ and generate the maximum potential long-term return. Our Crypto Winter Suite will provide ways for investors to dip their toes in the water at some of the lowest costs on the market.”

Details of the New Product

Explaining the details of the newly-launched fund, 21Shares said CBTC will offer investors low-cost exposure to the world’s largest cryptocurrency by market capitalization. The asset class is designed to become the lowest-cost ETP in the European market.

Notably, CBTC has an expense ratio of 0.21%, reflecting the 21 million total supply of Bitcoin, and the expense ratio of the new fund is 44 basis points lower than the next lowest product on the market.

Through the product, investors will be allowed to lend a portion of their underlying assets, in this case, Bitcoin, on a fully collateralized basis. Although lending is yet to commence at the moment, 21Shares noted that the feature will be added once the product attains sufficient scale.

21Shares Moves to Protect Investors from Bear Market

The ongoing bear market has taken a huge toll on investors, who have lost a significant percentage of their crypto holdings since the beginning of the year.

Interestingly, 21Shares wants to provide relief for cryptocurrency investors going forward. The company noted that it will be focusing on developing more bear market-oriented products during this period.

Hany Rashwan, CEO and co-founder of 21Shares said despite the fall in cryptocurrency prices, interest in the asset class has not declined, adding:

“We’ve seen investor demand for low-cost exposure to this asset class – and the 21Shares Bitcoin Core ETP – the first product in our new suite – does just that, at the most competitive pricing in Europe. Our bear-market products provide investors with a robust toolkit for navigating the challenging market environment.”

4 Basics Of Bitcoin Arbitrage

Andrew MacGill
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4 Basics Of Bitcoin Arbitrage

In the world of alternative investments, many savvy investors employ arbitrage to take advantage of price fluctuations in the market. Arbitrage is a term used to describe an investment strategy wherein the investor buys assets at a lower price and then quickly sells them to other vendors who buy them at a higher price. This profitable opportunity exists due to short-lived price variations of similar capital-based and tradeable assets across multiple market channels. Moreover, the price inadequacies are corrected while letting arbitrageurs like hedge fund investors earn from them.

Bitcoin is one example of a financial instrument traded through arbitrage. This cryptocurrency is ideal for fast trading as its unconventional pricing system increases the likelihood of variations. Additionally, over 200 market channels are trading Bitcoin, and it’s up to the investor to look for profit opportunities through commerce across these channels. While Bitcoin’s liquidity rate has grown exponentially in recent years, which limits the profit margin for arbitrageurs, there are still some techniques one can employ to make the most of the earning opportunities available.

If you’d like to know more about the basics of bitcoin arbitrage, you can consider the following points:

  1. Types Of Bitcoin Arbitrage

Crypto arbitrage can take several forms, each offering profit opportunities from market inefficiencies. Here are some examples of bitcoin arbitrage types:

  • Cross-exchange

Considered the most basic arbitrage trading method, cross-exchange refers to generating a profit by purchasing bitcoin on one exchange channel and selling it on a different platform where each unit is bought at a higher price.

  • Spatial

Like cross-exchange, the investor buys and sells bitcoin from two channels from different regions or countries.

  • Statistical

Statistical arbitrage entails using crypto trading platforms that use data models, algorithms, and bots to make real-time trading decisions and movements. For instance, Shrimpy is a fantastic tool that allows the investor to estimate various price deviations and the profitability of an exchange.

  • Triangular

Triangular arbitrage entails trading Bitcoin for two other cryptocurrencies and making a profit from the price differences. For example, you can invest USD$200 in Bitcoin, trade it for two different types of crypto with a profitable price difference, and use the earnings to have more Bitcoins than when you started. The profit margin in this type of arbitrage lies in the price deviation of the other two currencies, so it’s essential to study the price movements before investing.

Some investors use various combinations of these methods to maximize the earning potential of every trade decision made. Thus, it’s essential to solidify your knowledge about the different trading methods available before making any investments.

  1. Risk Factors

Although Bitcoin arbitrage may seem straightforward, it usually requires preparation, alignment of resources, information gathering, and time to execute complex trading plans. You also need to make timely decisions and manage the financial risks you may encounter. For one, crypto prices can change within seconds, and your trading strategy may not be as profitable after a minute of movement in valuation.

Aside from market volatility, here are other risk factors involved in crypto arbitrage:

  • Transaction Fees

Crypto exchange channels may require traders to pay transaction and withdrawal fees deducted from your profits. Discerning investors find ways to minimize its impact on their earnings, although it may require a thorough understanding of the fee structures.

  • Expertise Level

Arbitrage trading depends on the investor’s knowledge and expertise, so it’s vital to learn tips and techniques to make the most out of your investment and avoid financial pitfalls.

  • Confusing Crypto Names And Logos

Crypto arbitrage newcomers may find the variety of brand names and logos overwhelming, and some may even mistake transferring coins to the wrong platform, losing their capital. To avoid this, you can consult with more experienced arbitrageurs until you’re confident in your understanding of the crypto market. Doing so will help you manage risks and improve earnings.

Besides, you’ll need to watch out for technical errors when accessing your wallet, which can cause precious time and money. Ensure that your connection is stable and that there are no restrictions on your account or e-wallet.

  1. Legality

While Bitcoin arbitrage is legal, cryptocurrencies are typically unregulated in many countries. Therefore, consulting with a finance expert in your location is essential if investing using these financial instruments may have legal implications for you. Likewise, you may need to present documentation should any legal issues arise.

  1. Taxation

The United States Internal Revenue Service categorizes Bitcoin and other cryptocurrencies as taxable properties. Hence, all crypto transactions are viewed as property transactions, which require reporting gains or losses. Then, taxes will be deducted accordingly. With this in mind, it’s crucial to consider taxes when creating your arbitrage trading plan so you can make profitable investments moving forward.

Conclusion

The rise of Bitcoin and other cryptocurrency arbitrage has attracted investors worldwide because of its earning potential. This opportunity is attainable if you enhance your expertise in alternative financial instruments. Furthermore, it’s essential to consider the costs and risks of employing this strategy to avoid financial pitfalls.

 

Ripple Confirms Partnership With UK Sports Car Company Lotus

Albert Brown
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Ripple Confirms Partnership With UK Sports Car Company Lotus

 

The sports car company will launch its automotive NFTs on Ripple’s XRPL.


Ripple Partners UK Sports Car Company Lotus to Launch Automotive Non-Fungible Tokens (NFTs) on XRP Ledger (XRPL).

Famous blockchain and cryptocurrency company Ripple has announced that it has partnered with UK-based sports car manufacturing company Lotus, to launch automotive non-fungible tokens on the XRP Ledger (XRPL). 

“We’re excited to partner with @lotuscars to help bring automotive #NFTs to the #XRPL,” Ripple said in a statement. 

The partnership was first announced by Lotus last week. Recall that the sports car manufacturing company noted that it will be venturing into the world of non-fungible tokens via a collaboration with Ripple and NFT Pro, one of the beneficiaries of Ripple’s Creators Fund. 

According to Lotus, Ripple will provide technical support via its low-cost, fast, and carbon-neutral XRP Ledger. 

Details of Lotus NFTs

The NFTs will be a product of Lotus’ Advanced Performance unit, a department of the automotive company, which was created earlier this year. 

The digital collectible will be created in-house using the Lotus design, with each unit tipped to pay tribute to each of the legendary performance car brands. 

Notably, the NFTs will enable collectors and creators to experience different Lotus cars in a whole new dimension, with holders of the digital collectible given lots of perks in the coming weeks or months. 

“Lotus has always been about cutting-edge innovation, and entering the Web3 space in this way, with a truly customer-focused NFT program, is another excellent example of that. Partnering with NFT PRO, a real expert in this field, means we are guaranteed to deliver truly memorable content for a new digital community of Lotus fans,” Simon Lane, Director, Lotus Advanced Performance said in the announcement. 

Per the announcement, NFT PRO, which was among the beneficiaries of Ripple’s $250 million Creator Fund, will work closely with Lotus in the development of the non-fungible tokens. 

Commenting on the development, Christian Ferri, CEO, NFT PRO, said: 

“It’s a privilege to partner with such an iconic British automotive brand and to help the Lotus Advanced Performance team connect with a new generation of fans. This announcement is only the beginning for this collaboration.” 

Ripple’s XRPL Massive Adoption

Ripple’s XRPL has recently been widely adopted for various use cases. Fintech companies have adopted a solution to develop decentralized exchange and facilitate cross-border payments. 

The tech’s usage of NFTs has also seen widespread adoption in the past few months. In April 2022, top NBA star Michael Jordan announced that he will be launching his non-fungible token on XRP Ledger. 

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