FOMO Moments
Looking at the top 25 cryptos during today’s Asian trading session a clear winner has once again emerged. Markets have failed to gain momentum over the past couple of days and have largely been trading sideways. The top ten by market capacity are all in the red and only RaiBlocks is showing solid gains.
According to Coinmarketcap XRB is up almost 22% in the past 24 hours. After a week of down trending from a high of $20 it has made a comeback from a reversal at $13 yesterday and is currently heading back upwards trading at $17.63 at the time of writing.
News that the launch of its underlying product, the RaiExchange, is imminent would have caused the renewed interest in this altcoin. People have been waiting patiently for the exchange to come online and according to the RaiExchange Twitter feed it will not be long:
“So close we can taste it. All of our account management features are now live. Two-factor auth, password management, security logs, session management, password reset, etc.”
RaiBlocks is different to most cryptocurrencies as it operates on a ‘block lattice’ as opposed to a chain. Each block contains its own transaction and updates account balances mathematically after each exchange; there is no public ledger with a transaction history. According to the blurb on its website RaiBlocks offers fee-less, instantaneous transactions, as well as unlimited scalability, making it ideal for peer-to-peer transactions.
XRB has a market capacity of $2.3 billion, with 133 million total supply, all of which are already circulating. It is traded heavily on Korean exchange Kucoin which has over 70% of the volume.
Any comments welcome ;)
Happy trading.
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