Short Lived Pumps - Let's Talk About It
Hello. Awkward handshake. Haven’t done this in a while. I will show you what I’ve been up to with a studio tour at the end of the video, so stick around if you’d like to see that.
Lots of green in the market today. Is it tied to the fact that I’m back? Hell yeah it is, you’re very welcome.
I feel like it’s not as positive as it first looks, at least for today. The market is giving a bit of a clue as to why this boost could possibly be short lived. It looks as if a lot of new money poured in. Taking a look at the market cap for 1 day looks impressive enough, but the overall trend is more of what we’ve seen before. Lower and lower highs.
The reason Ripple for example has pumped so hard appears to be from people switching it from their Bitcoin holdings, as Bitcoin dominance has fallen about 1 and a half %, which is quite a lot for a marketcap so large. Rather than lots of new money flooding the scene, which would be more positive for sustained growth I feel. It’s already slowed down as it was over 20% gains when I started this video. We will have a clearer picture by tomorrow.
But what news surrounds this pump? The headlines reads, YouTube, Twitch and Wikipedia partner with Ripple. Wow, big news. However it’s not quite that, and maybe when more people realize this the growth will start to slow down, it’s not a partnership with those companies, but integration on a browser extension known as Coil which allows donations to certain websites.
It’s somewhat like the brave browser and BAT, except this is currently working for the Chrome browser, and theoretically any coin could eventually be integrated according to my understanding of it’s API.
But wait, don’t Twitch streamers already have the ability to accept crypto donations already?
Yes donations, this Coil browser extension however allows subscriptions, so a recurring payment somewhat like a Netflix subscription.
Still I feel a lot of hype in the air for Ripple, not for this, but for the eventual launch of Xrapid. Theoretically the market cap of Ripple needs to be higher than it currently is for the banks to start using it to transfer funds effectively. So holders out holding out hope for that.
Cardano with some big gains today. An update is launching which brings things like the main net, mobile wallets, staking, delegation and more a step closer.