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Different blockchains have benefited from their concrete technologies in the market, backing the rally of their native tokens. Ripple has been the driving force for XRP, with analysts predicting there’s more growth potential for the asset as it enters another historic market phase. Similarly, market analysts believe that 1Fuel’s technology, particularly its cryptocurrency exchange, will be a major driving force for its native token, $OFT, in the coming weeks.
The movement has already started, with investors rapidly accumulating 1Fuel at presale —184 million units of the token worth over $1.9 million were sold in a short while. Learn more about why analysts and investors are bullish on XRP and 1Fuel.
XRP gaining institutional mindshare
There’s been a growing interest in XRP among institutional players across the globe, particularly in the U.S. and Japan. At the time of writing, these investors are making large bets on the asset.
According to recent market data, institutional investors in the U.S., particularly those in traditional finance, have begun showing interest in XRP by filing for Exchange Traded Funds (ETFs) for the asset. GrayScale has led this move by filing with the Securities and Exchange Commission (SEC) to convert its XRP trust worth $16 million into an XRP ETF. Similarly, CoinShares and Bitwise have shown great interest in launching an XRP ETF.
An XRP ETF simply provides an avenue for non-savvy investors with large funds and limited technical knowledge to get into crypto through a trustworthy channel like traditional institutions. Analysts believe that with a spot XRP ETF, XRP could replicate the success of Bitcoin and Ether, which both have ETFs worth approximately $122 billion and $10 billion in assets under management (AUM).
The reason behind this institutional interest in XRP has been its unique technology, Ripple. Recently, the SBI Shinsei Bank of Japan announced a partnership to utilize Ripple’s distributed ledger for financing transactions on a global scale, following a period of using it for cross-border payments in Vietnam, the Philippines, and Indonesia.
For top cryptocurrencies such as XRP benefiting from its technology through its use cases, analysts state that 1Fuel’s innovative exchange could play a similar role.
1Fuel’s advanced exchange tech will influence its rally
1Fuel’s P2P exchange is expected to revolutionize the market by enabling a seamless and trustless platform for converting cryptocurrency to fiat and vice versa, an area where top cryptocurrency exchanges have struggled. 1Fuel’s exchange is unlike any seen before, as it will support over 100 fiat currencies, including popular ones like USD, EUR, and GBP, while also supporting local assets. This way, the entire process of trading through 1Fuel becomes easy, with near-zero fees and highly efficient transactions.
The unique implementations on 1Fuel aren’t limited to its exchange. There are several other benefits that make its tech stand out, including its artificial intelligence (AI)-powered feature, temporary wallet function, one-click cross-chain functionality, and more.
Analysts expect a short-term rally for 1Fuel, potentially reaching a 1,000% increase in a week because of the unique position its exchange features bring to the market.
Conclusion
Several other developments are underway that could lead to a price jump for 1Fuel, including its upcoming launch on cryptocurrency exchanges, opening it up to more liquidity from investors holding top cryptocurrencies like XRP. If this occurs, a 1Fuel price rally seems inevitable.
Be early, buy 1Fuel today ahead of the anticipated 1,000% gain.
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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
