Daily Cryptocurrency News – 6th November 2018

Welcome to the most important cryptocurrency news of November 6th, 2018.

XRP’s value goes up, overtaking Ethereum for a while

Ripple is full of surprises. After the September surge, XRP grow again today. The XRP price gained over 20% in less than 24 hours – gaining the second position on CoinMarketCap for a few moments.

Soon after reaching the $0.55 value, XRP decreased to $0.52 – but is still up from yesterday with ~15%. Forbes reported that the growth was due to Ripple’s latest news.

A few days ago, Ripple announced that by the end of 2018 – Ripple Labs would set up an office in Dubai. T

his can be the reasons, but there are many other great Ripple news that could have been a catalyst for the XRP price rise.

In the recent XRP Markets Report – Ripple had a 481% increase in quarter-over-quarter institutional direct sales of XRP. The amount grow from $16.87 million in Q2 2018 to $98.06 in Q3 2018.

Another fact that might caused the surge could be the Picolo’s research which states that Ripple is undervalued:

“It is important to note that XRP’s value is derived when clients use XRP as a bridge currency on Ripple’s xRapid platform, and not directly from its other products. We derive its fundamental value from two aspects:

1. Value of cost savings utilising XRP on xRapid, not including savings derived from xCurrent

2. Value of locked-up liquidity in NOSTRO accounts that could potentially flow into XRP (estimated 1% of total locked-up liquidity)

Our analysts derived an intrinsic valuation of $1.75 per XRP token. The estimates used are conservative as it does not include tokens burnt, the growth of Ripple’s market share, value attributed for error reduction and market share of other non-bank financial institutions.”

More details about this can be found on their website: PicoloResearch.com

Litecoin can now be bought from Litecoin.com & Hodl Hodl

In the recent news, Litecoin added a tool that allows users to purchase between $50 and $20,000 worth of LTC in USD, GBP or EUR with a credit card in under 5 minutes. The tool is made trough a partnership with Simplex – a company that will provide the function and also handle the KYC/AML processes. The funds will be sent to the user’s wallet into a maximum of 24 hours. The new tool can be tested on Litecoin.com/buy and you can track the payment status by using Simplex. More details about this can be found on Litecoin.com’s Medium.

Moreover, Litecoin is now live on Hodl Hodl, with more than 90 offers to buy&sell LTC and a volume of 400+ Litecoin. For those that are not familiar with HodlHodl, it’s a service similar to Localbitcoins that doesn’t hold the cryptocurrency of the user and doesn’t have a KYC/AML. There’s also a Testnet designed to teach you how to trade crypto. More details on Hodlhodl.

Ethereum’s CBC Casper Whitepaper Draft v1.0 was released

Yesterday, the CBC Casper Whitepaper draft was released by Vlad Zamfir, Nate Rush, Aditya Asgaonkar, Georgios Piliouras.This is the foundation of what Casper will be. Unfortunately, the document is not really an ”ICO whitepaper”. The mathematical equations used there are not really for everyone. Don’t worry though, the team mentioned that they will release a more user-friendly version explanation of how the protocol will work.

For those unfamiliar with Casper – it is a proof-of-stake protocol designed to function in a trustless system while also being more Byzantine Fault Tolerant. The developer behind the idea is Vlad Zamfir – which is known as the “Face of Casper”. In a series of blogposts, Vlad Zamfir tells the story of how he came with the Casper idea. The full list can be found here. For more details about the future of Casper and Blockchain Governance, you can check Vlad Zamfir’s Medium.

Stellar Lumens Will be  Added to Blockchain.com & Announces Massive Giveaway

A few hours ago, Stellar Lumens team announced in a blog post that Stellar Lumens will be added to Blockchain.com – being the fourth cryptocurrency accepted there. The other 3 cryptocurrency accepted there are Bitcoin, Ethereum and Bitcoin Cash. Blockchain.com is the famous bitcoin block explorer & wallet. The service also added a trading option, from which you can switch the 3 accepted cryptocurrencies between them using ShapeShift’s service. And now, Blockchain.com welcomes Stellar Lumens – the #6 Cryptocurrency by market cap and #4 added on the service.

And they plan to celebrate this partnership by offering $125,000,000 for free to verified people on blockchain.com. Each person will receive $25 worth of XLM for the beginning – and with time, they will be a part of the additional giveaways. More details about the giveaway can be found on Blockchain.com/getcrypto.

Bitmain launched two new models: Antminer S15 and Antminer T15

In a recent tweet, Bitmain announced two new miners: Antminer S15 and Andminer T15. These will be available to purchase on 11/08. The models are designed for the SHA256 algorithm:

Bitmain didn’t announced the power of these miners. But, with a 7nm chip architecture – similar with the GMO Miner B2 and B3 – these miners should have at least 33 TH/s. This is just an assumption, Bitmain keep the power private.

However, the Antminer D3 and Antminer L3/L3++ are on an amazing price. With only $39 you can buy an Antminer D3. For $52, you can get a 504MH/s Antminer L3. And if you add an extra $13 – you can buy the Antminer L3++.  Keep in mind that these miners are not profitable if your cost per Kwh is lower than $0.10. Check CryptoCompare LTC Calculator for more details.

Other Important news 

If you missed news yesterday, you can check them out here: Daily Cryptocurrency News – 5th November 2018

Image source: MIT

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