Multicoin Capital Is Bearish On Ripple (XRP) and Litecoin (LTC) While Declaring Ethereum (ETH) and EOS the Best in the Crypto-Verse (Crypto News Update July 2)

ethereum price chart

A couple days ago, an Austin-located digital currency hedge fund – Multicoin Capital, was being bearish on Ripple (XRP) and Litecoin (LTC), while saying Ethereum (ETH) and EOS are the best digital currency in the crypto market.

This firm is supported by a lot of venture capitals, as well as the Union Square Ventures, Chris Dixon, Marc Andreessen of Andreessen Horowitz. The firm said that Litecoin does not have any reason to be in existence, and Ripple (XRP), on the other hand, is a security.

The Speculations around the Launch of EOS Mainnet

The co-founder of Multicoin Capital – Kyle Samani, said that his company will always remain by the side of EOS, despite all the negative trends that are surrounding the launch of the EOS Mainnet. He further explained that the Mainnet launch of the digital currency did not yield the desired results, but this does not mean they’ll leave their position.

He said despite the fact that it didn’t go as expected, the launch didn’t go as back as rumors say it is. A lot of digital currency buffs and investors will definitely not agree with the sentiment of Samani, after the series of negative news that followed the Mainnet launch of EOS.

Ethereum (ETH) Is the Winner

He also likened the challenges faced by the Mainnet launch of EOS to that of Ethereum (ETH), but he acknowledged the fact that Ethereum is far ahead of EOS. Ethereum is the second most valuable digital currency in the world based on market cap, and its platform has been very useful to developers all around the world.

The Bearish Sentiment of Samani towards Litecoin (LTC) and Ripple (XRP)

The bullish sentiment of Samani wasn’t extended to Ripple (XRP) and Litecoin (LTC). Samani said that Litecoin (LTC) does not have any reason to exist hence, it doesn’t have a place in the market. He also suggests that people should stay away from Ripple (XRP) as it’s definitely a security.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.