CV Market Watch™: RAI Blocks Launches Native Exchange, Brand Gains Prominence
RAI Blocks (XRB) still has big expectations for 2018, despite the January shakedown.
At the end of January, RAI Blocks (XRB) traded at half its peak values, around $16.85, still up more than 20% in the past week. The digital asset, however, still relies on niche exchanges, but plans to remedy that by securing a native exchange platform.
It also became known that RAI Blocks would change its name, possibly to NANO, or a related title. It is not unheard of for coins to alter brands, as RAI Blocks would abandon the reference to the stone currency of the island of Yap. RAI Blocks in fact prides itself in making very small, very fast transactions viable, quite unlike the actual Rai Stones, which are unmovable.
Watch the speed of $XRB in action! After the withdrawal is processed by @kucoincom, it takes 2 seconds for the @raiblocks to reach the wallet. #RaiBlocks is the instant & feeless DAG-based digital currency of the future. Watch out $BTC 🚀 #XRB pic.twitter.com/bKzImhlXfM— XRB RaiBlocks Updates (@XRBRaiBlocks) 26 января 2018 г.
But some believe a rebranding would obscure the success of XRB and crash the market price.
The price of XRB remains volatile, and once again the volumes and trading have risen, after a mention on CNBC's Fast Money. But the effect was subdued, compared to the rapid climb in Litecoin when its creator was invited to the show.
Now, the XRB community is pushing for exchange listings, and XRB is leading in the KuCoin vote. For now, Binance is only a more distant plan. The decentralized Nxt exchange has made promises to list XRB. Bittrex is still a farther proposition. In the past month, XRB has increased its trading pairs beyond Mercatox and BitGrail, but still relies on smaller exchanges.
Investors are still hoping for larger, more technically sound markets that do not create withdrawal problems.
I got into #XRB because of the amazing tech (nearly instant transactions, no fees) but I stayed because of the wonderful developers and community. I bought in at $0.60, and I'm bothered by the current events with @BitGrail, but I'm hopeful they'll rectify things soon 🙂— Katherine Streckfus (@KStreckfus) 26 января 2018 г.
Right now, the XRB wallet and website could be in need of an overhaul, and the RAI Blocks project may slow down the pace to tackle the backlog of changes and necessary improvements.
But it is still unknown whether XRB could hold onto the price momentum, while handling the housekeeping issues. At the moment, most cryptocurrencies have more subdued reactions, still a far cry from the December pumps.