Here the main news on criptocurrencies of this week: Bitcoin tempted to reach $9.000, Ripple flash
crash, Tron trying to overcome Ethereum and high profits of Coincheck.
RIPPLE FLASH CRASH
Last week we have made a prediction, riding the rising wave of the Ripple quotation.
We were right partially because at the beginning of the week the quotation of Ripple had returned
above the coveted threshold of $0,90, fully enjoying the euphoria and the enthusiasm of the
Suddenly, in the middle of the week, this euphoria turned off and Ripple listing within a few minutes
fell to $0,59.
The flash crash that has affected the Ripple has long been discussed by traders who have
accused the so-called ‘whales in the market’ and their impressive sales orders. It seems that
investors with a large availability of XRP have sold everything and have decided to do it on the
same day. As it collapsed, however, Ripple listing rose again, returning to April levels (about
We are convinced that, after this flash crash, the cryptocurrency will continue to show all its
vulnerability over the next few days.
BITCOIN HIT $9.000
The same fate of the Ripple has not certainly touched the Bitcoin that seemed to be returning to
the spotlight finally finding the momentum needed to move closer to $9,000.
That of Bitcoin and there other cryptocurrencies could be defined as resilience as well, which
surprised even the most skeptical, convinced by now of the decline of this kind of currencies.
Several elements may have contributed to the recovery of the listing and among these there is
certainly the end of the season of taxes in the USA.
For some traders, the price of Bitcoin has now reversed. Its listing could even go as high as
$20.000 as early as mid-2018, while it will not be difficult to see a climb of $25.000 by the end of
the current year.
COINCHECK BEATS TOKYO STOCK EXCHANGE
The number of exchange through which trading cryptocurrencies is constantly growing. Among the
currently most famous exchange stands out Coincheck, a Japanese giant that in January was
however the victim of a massive hacker attack costing approximately 500 million NEM tokens.
Despite this, the cryptocurrency exchange has managed to make the Tokyo Stock Exchange in
difficulty in terms of operating profits.
In the period between April 2017 and January 2018, the platform earned 53,2 billion yen, i.e., 490
million dollars. 500 million yen was the profit of the months of February and March only.
Regardless of what will happen, the performance of the exchange registered before the hacker
attack will certainly not be forgotten by the world of cryptocurrencies.
TRON vs ETHEREUM
Tron, the platform created by Justin Sun where the protagonist is the cryptocurrency Tronix, has
gone into a new phase of development by launching the test of the network of its native platform
last month. Tron has migrated from its ERC20 platform, making a major blow to Ethereum,
considering that Tron has a large user base on his DApps, which will also migrate from Ethereum
Sun himself clarified his plans for Tron as part of the test launch event, during which he stated that
Tron is no longer the ERC20 token, and will compete with Ethereum as a DApp platform in future.
According to Justin Sun, it was precisely the shortcomings of Ethereum that pushed it towards the
development of Tron's native platform, after using Ethereum in the development of the initial phase
of its cryptocurrency. The blockchain parameters taken into consideration by Sun to develop its
idea were security, transaction costs, scalability, network speed and many others.
Will Tron be able to dominate Ethereum?