The latest price movements in the crypto space show that Bitcoin (BTC) has dropped to the lower $7,000 levels with no significant bounce. Ethereum (ETH) is currently standing at $533 whereas Ripple (XRP) is trading at $0.574, which is representative of a drop of about 60 cents from a recent top.
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Latest developments
Despite the fall, with the passage of time more people are embracing the top three coins and at the moment they are being accepted as a form of payment for the purchase of a 27 acre piece of land located in California. This property is going for about $16,000,000 and anyone with XRP, ETH or BTC will be in the position to make the purchase.
Propy Inc, a real estate firm focused on the resolutions of matters to do with the purchase of land across borders has tweeted disclosing that it will be accepting XRP as a form of payment for the property. Sources indicate that the property lay close to the headquarters of Netflix, Inc (NASDAQ:NFLX) and it happens to be the first one to be enlisted by XRP as a payment option. The firm has revealed that it intends to list more homes in a similar manner.
Crypto adoption gains ground
It is surprising just how fast Crypto adoption is gaining ground and the one sure proof is the listing of a $16,000,000 property in CA. To own this property, one requires 27,874,564 XRP, 30,018.76 ETH or 2,213.61 BTC.
In the previous year, Ripple turned out to be the most profitable cryptocurrency. Reports show that none of the other digital assets even got anywhere close to it. And it hit the incredible $3.00 peak in January last year.
But it is important to mention that it did not happen in isolation. That is considering that it was a moment where the entire cryptocurrency market shot up in a big way. Anytime a change has been taking place, it has always erupted in the entire ecosystem. Adjustments are normal when it gets close to that moment.
Some analysts have been giving opinions asserting that Ripple won’t be adopted en masse. Whether they are right or not is a matter that we will just have to wait and see about.
Bitcoin (BTC-USD) is currently trading at $7,143.70, down by (-1.33) %.
