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XRP and Cardano Rise Sharply in the News
XRP jumped 23% on Aug 11, surpassing the $ 1 mark for the first time since early June. Over the past 7 days, the sixth cryptocurrency has grown by 40%
Aug 12, 2021
1 min read
Anna BakkerNews analyzer

Cardano jumped 15% yesterday after rising 10% the day before. Over the past week, the fifth cryptocurrency has risen in price by 30%.

XRP skyrocketed after Ripple announced a partnership with Korean payments giant Global Money Express (GME). As part of the collaboration, GME is joining RippleNet, Ripple's global blockchain network, beincrypto writes.

GME plans to use RippleNet to accelerate the growth of payments from South Korea to Thailand, partnering with Siam Commercial Bank, Thailand's largest bank.

Ripple notes that the Asia-Pacific region is one of the fastest growing. The volume of transactions there is increasing by 130% every year.

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It is noteworthy that the new cooperation was announced after the US Securities and Exchange Commission (SEC) caught Ripple in the XRP pump on the eve. After reviewing part of Ripple's corporate messages on Slack, the agency concluded that Ripple was aware of how announcements affect the price of the token.

Cardano (ADA) is growing amid the announcement of the founder of the project Charles Hoskinson about the imminent disclosure of the launch date of smart contracts in the Alonzo updates, writes forklog. The upgrade deploys Decentralized Financial (DeFi) applications.

The creators of Cardano are using scientific approaches in the development of cryptocurrencies and are launching smart contracts only now, when several competing projects already offer similar functionality.

Recently, the developers talked in their blog about the release of non-fungible tokens (NFT) on the Cardano blockchain. They note that NFTs are used by the new Cardano tokens and will not require additional smart contracts that are used to issue them on the Ethereum blockchain.

Earlier, the Morningstar rating agency admitted that Cardano is able to enter the top three cryptocurrency assets along with Bitcoin and Ethereum. To bypass Tether and knock out of the Binance Coin trio, ADA needs to grow another 15%.

In July, the Cardano Foundation presented a development plan for the next five years. By 2026, the organization will increase the ecosystem user base to a platform of $ 1 billion.

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