Look Back At The Most Hyped Cryptocurrency Tokens Of September 2018
The performance of the crypto market has been appalling for the best part of 2018. Nonetheless, a few digital currencies have recorded increased popularity as investors seek ways of improving their values in the future.
4 Most Hyped Cryptocurrency Tokens Of September 2018
Below are the four most talked about cryptocurrencies in September, along with the reasons for the hype.
The impressive performance of XRP is in its first year was accompanied with bullish predictions on its future. In December, the coin grew by as much as 33% per day. This made investors confident that XRP would pose a serious competition to the more established cryptos such as Bitcoin.
Hover, the fortunes turned for XRP, resulting in a significant dip in value. In September 2018, the coin picked up once again. Remarkably, its value soared by a whopping 50% in just a day, surpassing the $0.50 mark for the first time since May. The rise was impelled by the then-impending launch of the xRapid solution which has since been introduced. The role of XRapid is to make banking transactions swifter by integrating XRP. The inauguration of xRapid has undoubtedly reignited the interest in XRP among members of the crypto community.
The discussions concerning TRX in September were mainly about its future, rather than its value and performance. At the time, the coin was undergoing a rough period, having dipped by 59% in just three months. Naturally, many crypto investors became concerned about its future.
The numerous announcements made by the Tron development team also contributed to the increased hype. Last month, the Tron team revealed that it was working on several projects, with the most notable being the creation of BitGuild, the first-ever game built on the Tron blockchain.
The second largest cryptocurrency by market cap value has also been talked about considerably over the past month. Apparently, crypto hobbyists are talking about how Ethereum is at risk of being ousted from its second position by other altcoins.
Throughout 2018, scaling has been a major challenge to the Ethereum network. Furthermore, ICOs have been abandoning their ETH holdings in favor of other business ventures. As a result, Ripple is almost surpassing Ethereum in the crypto rankings.
The announcement of the upcoming launch of the StellarX crypto exchange platform generated a lot of interest around the Stellar Lumens (XLM). In fact, a majority of experts predicted that the price of Stellar would reach $1 before December, mainly because of the launch of the trading platform.
Because Stellar (XLM) is the native virtual currency of the StellarX exchange, it is expected to increase the trading volumes, a factor that would drove the price to $1. In addition, the potential stability in the value of XLM is particularly attractive to banking institutions. If the banks were to use XLM for cross-border payments, its price would increase, as well as its mass adoption.