Sunday, September 20, 2020

EOS fights in court - the 2020 remix, XLM announces staking and Ripple does what it does best - XRP redistribution to current holders

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A bet on the community

Parallel to news of Ripple (XRP) and Stellar (XLM) getting launched on the BitRank Verified Risk Scoring Service, the two organizations have also announced Reallocation programs. The programs will see big chunks of their respective currencies released to holders. Some in the Ripple and Stellar community have reacted negatively to the news, expecting a price decline due to the increased supply. In contrast, others have already taken advantage of the programs, reporting up to 20% back on their XRP/XLM holdings.

First of all, let's discuss Ripple. The long-time top 5 alt, XRP, has seen a slight increase in price, riding high on positive new developments. Recently, analysts have pointed to long-term holders moving out into other altcoins/bitcoin. In response, the team @ Ripple has launched a new initiative, backed by a 5 Billion chunk of the reserve. Holders and interested parties should follow the news.

GET THE FULL SCOOP

Bits by our analysts & readers:

"If your XRP is at an exchange or you would like to buy into XRP to participate in the program, you need to withdraw XRP to a wallet outside the exchange. I prefer to use my ledger.".

XRP longtime holders have been unhappy about newcomers being eligible in the generous program. We suggest that those of you coming from other currencies or exchanges to apply ASAP to guarantee your spot.

Some of our readers are already reporting being approved and receiving back 20% on their current holdings.

THE BRIEF

Let us dive into the Stellar Community's Staking Marathon and what you can expect out of it. Despite being Ripple's little brother, Stellar is not stepping back and committing 6 Billion XLM as a guaranteed staking bonus pool, with the focus being on incentivizing holders to stake more Lumens for extended periods of time.

Community members are already reporting being overwhelmingly happy with their first payouts. We predict that, as the next waves of payouts unfold, the interest in the program from both longtime Stellar fans and curious investors alike will boom.

Analysis:

With backing by notable crypto names on twitter such as Reid Hoffman, the program's popularity is expected to peak very soon. We expect this will result in the limited budget of the program running out quickly.

People stuck with XLM on exchanges should withdraw to an outside wallet before applying.

Users that subscribe to the current Staking Marathon would be automatically qualified for the next stage of the Staking Marathon.

EOS holders eligible for redistribution?

Problems for Block.One do not seem to be ending anytime soon. While the investigations revealed B1's involvement in the "wash trading", the company is striving to escape its legal obligation by forfeiting its digital assets.

Earlier in 2019, the company was charged $24 million for its unregistered ICO. The penalty was seen to be marginal as the company had already raised $4.1 billion from it. However, this time, the penalties are expected to be surmounting along with the outstanding tax liabilities. Relief for the EOS account holders is that they can qualify for the redistribution.

Reports:

SEC probes Block.one to have full transparency in its shareholding information.

When the company started the digital asset redistribution in favor of the current holders, the price spiked.

While it would be interesting to see where the journey leads for EOS, the account holders can claim the redistribution from EOSIO. Supposedly all the accounts are getting accepted, not just the genesis ones.

Click here for more info

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