4 seems to be the unlucky number for cryptos today, as all top 10 cryptocurrencies are in the red, with loss values of greater than 4% each. The market leader, Bitcoin [BTC] shed 5.75% in value over the past 24 hours, with Ethereum and Ripple’s XRP at 8% and 5% respectively.
The market took a collective tumble, as it lost $13 billion over just a few hours. While the collective market cap was around $286 billion in the early hours of June 22nd, it suddenly dropped down to $273 billion later in the same day.
The biggest loser of the top 10 was EOS, with a loss of 10.67% over 24 hours. With the mainnet launch being plagued with issues such as the block producing stopping within a few days of the launch, and talks of malicious bugs, EOS has had a tough week. It lost 13.86% over 7 days, which reflects the FUD that was spread over the week. Its current price is $9.42
Cardano [ADA] and Bitcoin Cash [BCH] lay in the 8% loss bracket, as they both lost 8.16% over 24 hours. Cardano is trading at $0.14, while Bitcoin Cash rests at $813.
Following closely behind was Ethereum [ETH], at 7.56% loss. It is currently trading at $496 after it took the hit. Litecoin is in the same loss zone, as it lost 7.02% of the value and is now trading at $90.
A majority of the top 10 coins aimed to rough out the tough market conditions, and instead lost around 6% of their value. These coins are Tron, with a loss of 7%, IOTA, and Stellar Lumens, with a loss of 7.48% each. Tron’s TRX is trading at $0.04, while MIOTA is trading at $1.08. XLM is trading at $0.21.
Bitcoin and Ripple [XRP] were the most resilient to the changes in the market, with a loss of 4.87% each. Bitcoin dropped down to $6,356 after the crash, briefly pausing at $6,666.66, sparking investors’ superstitions. XRP is trading at $0.51, continuing to hover around the $0.50 mark as it has over the week.
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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind
XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”
A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.
Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry! 😆
— Wietse Wind (@WietseWind) June 23, 2019
XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.
After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.
The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.
This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.
XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.
SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.
Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.
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