Litecoin is “dead”, Ripple is “Security”: Kyle Samani

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July 6, 2018 by
Litecoin is “dead”, Ripple is “Security”: Kyle Samani

In a recent Ton of money meeting, Kyle Samani, who is the Founder and also Managing Partner of Multicoin– a $75 million cryptocurrency fund, shared a few of his sights about Litecoin as well as Surge. He believes, “Litecoin has no reason to exist any longer. It was a fork of Bitcoin. It’s simply relaxing.”

A news about Surge, titled “Ethereum and Bitcoin Costs Jump After SEC Authorities Claims Ether is not a Safety” mentioned Ripple is not a Safety and security. Highlighting the ongoing information Samani said, “We have no idea when that news is mosting likely to drop … Yet we have a high conviction that is protection.”

Samani stated that being SEC signed up is a really hard point to do. “Not a single exchange worldwide that trades crypto on the planet is a SEC registered exchange. If you most likely to the SEC site and also take a look at SEC licensed exchanges, there’s 10 or 12 of them. It’s NASDAQ, NYSE, CFTC, the CBOE” he said.

“Being SEC registered takes a long period of time and is a multi-year procedure.” He said it is an incredibly super hard point to do. He emphsized that if SEC labels Ripple as safety and security, everyone will certainly stop trading in Surge. “If that takes place, liquidity is mosting likely to run out,” he added.

According to CoinMarketCap, Litecoin remains in the 6th setting at the moment with a market cap of $4,810,931,128. XRP, on the other hand, is holding the 3rd position and has a market cap of $18,771,374,819.

shekar

A mechanical engineer turned journalist, Raja Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Custom Coins.

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