Cryptocurrencies leading growth today: XRP, WSM, Ecoterra

XRP, WSM, Ecoterra

The cryptocurrency market has already recovered, so both long-established and new altcoins are showing an increase in value. Among the leaders of this digital era, XRP, WSM and Ecoterra assets are becoming particularly popular.

The Wall Street Memes meme token is growing rapidly, as it raised over $4 million in just 11 days of presale. The “green” crypto project Ecoterra similarly continues to be in high demand, despite the fact that the presale is coming to an end.

XRP: nearly 70% growth in six months

XRP is a digital currency released by Ripple Labs. It creates an international payment and exchange network for banks and other financial services.

What makes Ripple special as a network and company is that it not only offers the use of its XRP cryptocurrency for payment processing, but it can also interact with other digital assets such as fiat money.

Since its emergence as a commercial product, Ripple has been recognized by key investors. Back in 2013, Google Ventures and IDG Capital Partners invested about $3 million in Ripple. By the middle of the same year, they managed to raise an additional $2.5 million from digital investment firms Andreesen Horowitz and Pantera Capital.

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Ripple has also found success in the cryptocurrency market through partnerships with major banks around the world. For example, the company has commercial agreements with Santander, Axis Bank, Yes Bank, Union Credit, Moneygram and SBI Holding Group.

In mid-2020, Ripple faced a lawsuit from the Securities and Exchange Commission (SEC). It is directed against the founders of the project. The regulator considers XRP a security that was traded without proper registration.

However, on May 16 this year, the court ruled that the SEC was not entitled to classify a number of documents that could be key to the protection of Ripple. This news had a favorable effect on the price of the XRP token, it rose in price by 8%.

Another event that raised the value of the cryptocurrency was the opening of a platform that allows central banks and government organizations to issue their own digital currencies (CBDC).

The platform is based on the same blockchain technology as the XRP Ledger (XRPL). Governments and financial organizations will be able to manage and customize the digital currency, transactions and distributions. Ripple CBDC will also offer an end-user wallet. In it, individuals (corporate and retail) will be able to store their digital currencies.

Following the news of Ripple CBDC’s launch, the XRP cryptocurrency rose 5.43% to $0.47 on Wednesday, May 17. According to CoinMarketCap, the asset is already trading at $0.53 at the time of writing.

WSM: sold over $4 million in the pre-sale week

While the future of PEPE, DOGE and other meme tokens looks bearish, a new meme coin called Wall Street Memes (WSM) is quickly gaining momentum. The creators of WSM are well-known personalities in the Web3 industry with a track record of releasing successful digital products. The Wall Street Memes team’s first project was a 10,000-piece NFT (Wall Street Bulls) collection that sold out in just 32 minutes in 2021.

Another factor that allows WSM to outperform other meme coins on the market is the philosophy behind the project. Wall Street Memes has its origins in a movement formed in 2021 when the Wall Street Bets community stood up to the Wall Street tops and stood up to GameStop.

The digital currency creators’ approach is to parody the financial world through memes. However, the team has a bigger goal than just creating “viral” pictures.

The WSM token represents the power of memes and their ability to generate revenue despite the fact that they have no obvious utility. This is how the Wall Street Memes team wants to enable small traders and investors to generate steady profits.

Impressively, the WSM coin has attracted more than 12,000 new followers on Twitter since the pre-sale began. In addition, the army of followers in the Telegram group has grown from 800 to 4,000.

The Wall Street Memes pre-sale began on May 26 and became an almost instant success. The token is backed by a community of more than 1 million people who share news and memes and comment on WSM on social media.

As a result, the new meme coin raised $250,000 on the first day, and 48 hours later the number of investments was already over $500,000. A week and a half later, the project had raised more than $4 million.

The token is attracting investors’ attention due to its democratic spirit. Instead of holding closed pre-sales or keeping a stockpile of coins for themselves, the team is making 100% of the offerings available to the community.

Buying WSM during the presale can already provide a return. As the coin appreciates in value during the 30 stages of the presale, the amount of profit an investor makes depends on when they join. The token is currently priced at $0.0277.

Ecoterra: more than $4.7 million has been invested in the coin

Among the recently launched presales that are attracting millions of investments, one of the potentially lucrative ones is Ecoterra. The creators of this cryptocurrency aim to show society the benefits of a green economy and offer tokenized rewards to followers.

The Ecoterra app is aimed at both individuals and companies. Users will benefit from the Recycle-to-Earn concept.

To do so, one has to register waste in the app and then drop it off at any container collection machine (RVM). Once the user receives the receipt, he must upload it to the program, and then ECOTERRA tokens will be credited to the account.

These coins will be used, in particular, to invest in green projects that have a positive impact on the environment.

There are also two marketplaces on the Ecoterra platform: for the purchase of recycled materials and carbon credits. The latter are a tool for companies to offset their emissions.

The ECOTERRA altcoin has real utility as it acts as the main currency in this green ecosystem. Recycling rewards are paid out in these coins. You can also use this token to buy carbon credits and recyclables. Fiat money and other digital currencies will also be available for certain transactions.

The Ecoterra crypto project is in line with the Sustainable Development Goals and global climate agreements. Moreover, the global trend of conscious consumption favors investing in this cryptocurrency.

The pre-sale of ECOTERRA tokens started a few weeks ago and has already raised $4.7 million. Now the eighth pre-sale stage is underway, and the next one will be the final stage.

ECOTERRA tokens will hit cryptocurrency exchanges at a value of $0.01. This means that those investors who bought the coin during the first round (for $0.004) will automatically receive 250% paper profit. At the time of writing, the coin is selling for $0.00925.

Wrap-up

While XRP stands out as one of the cryptocurrency projects that has established itself among the leaders, the new tokens also have great growth potential. Participating in a pre-sale can be a lucrative way to acquire an asset at minimal cost and earn a fixed paper profit. Considering that WSM and ECOTERRA raised $4 million each during their presales, it is likely that a successful launch will lead to the cryptocurrencies soon appearing on leading exchanges such as Binance and Kraken.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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