Ripple Ramp Continues - 2017's Best-Performing Crypto Is Up 30% Already In 2018

After gaining over 36,000% in 2017 - the best-performing crytocurrency, Ripple is soaring again today (after a brief dip yesterday) to $100 billion in market cap and up 30% year-to-date for 2018.

While Bitcoin grabbed many headlines - testing $20,000 - in percentage terms it never came close last year...Ripple, the centralized bank-focused digital currency, claimed the gold medal with a staggering 36,018% return over the past year.

 

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Source: CoinTelegraph

And despite a very modest drop yesterday - after Peter Thiel Bitcoin headlines - Ripple is now up 30% for 2018...

 

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And as Bloomberg notes, Bitcoin alternatives are closing the gap with the market leader after names like stellar and cardano became red hot as 2017 was closing.

The biggest cryptocurrency’s share of market value has fallen to a record 36 percent from 56 percent a month ago, according to CoinMarketCap prices for coins and tokens.

 

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“The altcoins today, in large part, are not trying to be bitcoin competitors,” said Lex Sokolin, global director of fintech strategy at Autonomous Research LLP in London. “They are doing something else entirely -- ethereum as a smart-contracts platform, iota as a machine-economy token, ripple for interbank payments, and so on.” How each is used “should become increasingly relevant as the novelty of crypto wears off.”

Mike McGlone, a commodity strategist at Bloomberg Industries, warned "when the frenzy subsides, 2Gs should continue to gain on bitcoin, which has flaws and where futures can be shorted,” in a note last week. “Ethereum appears prime to assume benchmark status, though bitcoin forks ripple and litecoin are the primary up-and-coming contenders.”

Comments

Cognitive Dissonance Nature_Boy_Wooooo Jan 3, 2018 12:52 PM Permalink

As you shall see in my soon-to-be-released white paper, I shall retain complete unilateral control and can change the CogCoin rules when they suit my purposes or simply when I'm having a bad day and want to squash some little people.

When this is all said and done I shall be appointment the new Federal Reserve Chairman and be anointed as the greatest Ponzi operator in history.

/sarc

In reply to by Nature_Boy_Wooooo

greenskeeper carl Slurm Jan 3, 2018 1:37 PM Permalink

I bought a small amount of XRP at 81 cents and sold most of it around the 2.30 mark. Once it hit 2$ I really started to regret not buying more, story of my life, but its seldom a good idea to pile more money into something thats run that much in a short period of time. I still have about 30 XRP , we will see what happens. Hard to imagine it going much higher than 4$ at any point, or overtaking bitcoin at the top, but SOMETHING will eventually. Holding my last little bit long term.

In reply to by Slurm

pods greenskeeper carl Jan 3, 2018 3:46 PM Permalink

Crazy but I just priced out putting together a mining rig. Like $2 grand for a decent one (6x Nvidia 1060s). Might just set it up, mine a bunch of unknown coins and wait. The way all this shit is sloshing around, all it takes is one unknown to pop and if you happen to be sitting on 25k coins you can pop out and be done.

Can also mine ethereum etc in the meantime to pay the rig off as well as the electric. 

(also it gets me tinkering and building shit, so that helps out too)

But the future of cryptos really can be bright.  Imagine taking down the central banks game for internet sales?  

If not, I can take the cards and slap them in a PC and make them gamers. 

If everyone else is having fun playing with bubbles, why can't I join in the fun and get some free dopamine?  

pods

In reply to by greenskeeper carl

Rickety Rekt Raffie Jan 3, 2018 12:32 PM Permalink

If you think the gov't is going to let some full anon coin get too far you need to remind yourself of how these fks work. You have been on ZH long enough to know that betting against them just hurts. 

XRP has real value to banks.

Just the fact that settlement goes from 3-6 business days to ~8 seconds or less...

The amount of money, time, and resources saved will be immense. 

 

In reply to by Raffie

Rickety Rekt Sabibaby Jan 3, 2018 2:15 PM Permalink

But that isn't the intent of Ripple at all, they tell you they are moving to XRP, and when the Deepstate tells you this, you hang on for the ride. There was been hundreds of millions of coins moving into wallets for liquidity purposes, likely the ones coming out of escrow so the market doesn't go even more parabolic. Just before xmas, there was a $450MM coin move on the ledger, into a wallet with 100MM xrp already in it, no one could have bought that in the market. Bank pays Ripple USD for XRP, and Ripple releases from Escrow. Once all the liquidity is established this thing goes wild, and with daily bank to bank transactions and settlements high already, the coin burn kicks in pretty hard IMO.

Pretty straight forward.

Maybe it blows up in my face, but we will see. 

 

In reply to by Sabibaby

Nature_Boy_Wooooo Raffie Jan 3, 2018 12:58 PM Permalink

It's unbelievable how we arrived here.

 

Bitcoin rises to fame due to its decentralized network........ people see profits being made and start buying centralized currency. Now every idiot in the world is a professional crypto trader.

Would these people be buying up all of these shit coins if Bitcoin never exsisted? My guess is no.

 

In reply to by Raffie

ronin12 Jan 3, 2018 12:37 PM Permalink

$3 a coin seems cheap to average idiot - many people too stupid to understand basic math and the fact that there will be 100 billion in circulation. 

Nature_Boy_Wooooo Jan 3, 2018 12:40 PM Permalink

How to make a successful alt coin in 2018.

 

-Marketcap becomes a popular statistic.

-Creates coin with gigantic supply.

-Market cap looks huge because of giant supply.

-Morons buy.

-Gets rich.

VWAndy Jan 3, 2018 12:42 PM Permalink

 And just how do I as a producer calculate my labor rate in fanta coins? Its tricky seeing as there is actual work involved. Then there is that skill level issue.