If you take a look at the cryptocurrency charts, things aren’t looking so hot today. It seems like every top coin is in the red this morning, except a few including RaiBlocks (XRB) and Ethereum (ETH). Out of the top 35 most valuable digital currencies, only three have made gains in the past 24 hours – including those two. None of those three, however, has gained more than 10%.
Wildly successful currencies are sinking – like TRON (TRX), which is down 24%. Top altcoin Ripple (XRP) is trading about 18% lower than it was yesterday. Cardano (ADA) and NEM (XEM) are both trading about 13% lower.
So, what’s the deal? Are there any cryptocurrencies gaining today?
The Best Performing Top Cryptocurrency This Morning is RaiBlocks (XRB)
Now, we’ve talked about RaiBlocks before. That was about two weeks back, when XRB was trading at $12.73. At the time of writing today, however, it is sitting comfortably at $27.98 – more than double its value two weeks ago.
While in the past 7 days this coin has fallen by about 8%, its monthly price growth has been unbelievable. It has skyrocketed by 2,667%!
And this coin is showing resilience during a rough morning for the whole cryptocurrency sector. The current market cap for all combined coins is $701 billion. For some perspective, on Sunday the global digital currency market cap was at $835 billion. Few crypto coins have been able to sidestep the effects of this industry-wide slump.
RaiBlocks is one of those coins. It is trading 9% higher than it was a day ago. Ethereum (ETH), which is currently up 6%, is also a survivor today. Ethereum Classic (ETC) is up by about 8.8% too. All other coins on the top 35 most valuable list are trading lower than their price 24 hours ago. Were you expecting that news today?
So Why is RaiBlocks (XRB) So Special – and Resilient?
This is a pretty unique cryptocurrency when set against its peers in the top 35 list. It has a similar origin story to Ripple (XRP) and Litecoin (LTC) – people were fed up with the limitations of Bitcoin (BTC) and Ethereum (ETH).
Bitcoin transactions are pretty expensive for the small-time investor. On top of that, the transaction verification time periods are pretty inflated. And mining has gotten so expensive to do lucratively that it is almost impossible to start participating. How long would developers put up with lagging block verifications and pricey transaction fees, anyway?
That is why a lot of coins that have gained prominence in recent months boast lightning-quick verification speed. You also find a lot of cryptocurrencies heavily marketing their super cheap transaction fees. Some even don’t have transaction fees.
In fact, RaiBlocks (XRB) doesn’t have transaction fees. On top of that, it doesn’t have any miners. It is impossible to mine. With a coin that demonstrates three big-time advantages over the likes of Bitcoin and Ethereum, how could XRB not be climbing the charts?
— RaiBlocks (@raiblocks) January 5, 2018
Its market value is at $3.76 billion – just behind QTUM, which is currently worth $3.793 billion. A swift price gain today could drive RaiBlocks into 17th place. We are watching and waiting.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.