Welcome to the Uphold Update. Weekly top stories all about what’s happening in the world of cryptocurrency and blockchain technology.
The crypto market changes minute-by-minute, and at Uphold, we know how important it is for our members to stay on the pulse of shifting trends and market changes. This week we’re looking at XRP’s rapid growth, the significance of Bitcoin’s mining supply, and more.
Here’s a recap of what happened this week:
Crypto Market News
This week, Ripple released their Quarter One report showing XRP’s growth in the first three months of 2018. With Ripple selling $167.7 million worth of XRP, this is an increase of 83% compared to the previous quarter and an increase of 2,400% compared to 2017’s Quarter One. Along with increased buying, the total trading volume of XRP has grown globally by about 68%. While there are a number of reasons supporting growth across the crypto market, many see XRP’s increasing adoption, as well as the possibility of Apple implementing Ripple’s interledger protocol into ApplePay, as part of the reason that consumers find it promising.
Bitcoin Supply: Only 4 Million Left to Mine
Bitcoin hit a milestone this week. As of Thursday, 17 million bitcoins are now in existence. That means there are only 4 million left, of the 21 million total, to mine. Many find this milestone especially important in reflecting the potential for Bitcoin to reach new highs later this year, as consumers are reminded of the scarcity of bitcoin. At a conference in New York this week, one major investor predicted BTC will replace gold and become the new reserve currency across markets.
How Digital Money Will Shape The Future
Beyond the world of cryptocurrency–digital money overall has revolutionized global transactions. Digital payments gives more freedom to consumers, whether you are breaking out of the poverty cycle or looking for more efficient ways to pay bills. With so much happening, CNET has announced a new series “Follow The Money” all about “what a cashless world might look like and the many ways digital cash will reshape our lives.” This week’s stories highlight new biosecurity technology, mobile payments addressing issues of poverty, and the rise of e-commerce.