Why is the "zombie coin XRP" popular again?
Isn't it said that in a bull market, "new things should be traded instead of old ones"? What are XLM and HBAR? Why are they all rising inexplicably?
What are the Korean aunts doing?
Who are buying these "zombie coins"? Simply put, it is American institutions and a large number of Korean retail investors. Let's not talk about the buying of American institutions, let's take a look at the situation in Korea.
Korean media reported that on trading platforms such as Upbit and Bithumb, the number of user accounts over 60 years old has increased by 30.4% compared with the last bull market, with 770,000 accounts. Korean elderly people hold 6.76 trillion won of cryptocurrencies in their hands, and the average investment per person is nearly 9 million won. At the same time, bank deposits have hit a new low, with a decrease of 26.95 trillion won. It seems that Koreans have withdrawn their money from banks to buy coins.
BTC is not even in the queue. XRP's transaction volume is more than ten times that of BTC. XLM (Stellar) and HBAR (Hedera), which are not well-known in the Chinese-speaking world, are also on the list.
XRP is a product of Ripple. Ripple Net allows banks and payment providers to conduct cross-border transactions safely and quickly. Ripple will also issue stablecoins in the future, and its potential is very large.
This round of bull market follows the United States, which is different from the bull market of ETFs in the first half of the year. This time it is a compliance bull market after Trump came to power, and all the assets are compliant. The skyrocketing tokens all meet the compliance standards of ISO 20022, which is the specification for electronic data exchange between financial institutions. It supports large amounts of data and fast processing and is suitable for fast payments.
Tokens such as IOTA, ALGO, and ADA have all soared because they meet the ISO 20022 standard.