The Block • Sep 27, 23
Bitcoin’s correlation with equities continuing to diverge
The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Rupee has fallen by 2.69% in the past 7 days. The price increased by 0.65% in the last 24 hours. In just the past hour, the price grew by 0.25%. The current price is $0.000053 per RUP. Rupee is 99.99% below the all time high of $0.94.
The current circulating supply is 0 RUP.
is a decentralized open-source and blockchain-based . Rupee aims to introduce to the South Asian market. The cryptocurrency is unrelated to its namesake, i.e., rupee, which is a traditional South Asian currency. However, it plans to capitalize on the name to make it widely accepted as a medium of exchange and means of payment by the regional populace.
According to the , a vast section of the global and South Asian populations cannot access conventional financial services due to a lack of sufficient documentation. Hence a significant fraction of the population cannot benefit from the digital revolution in finance. These folks, however, can easily be persuaded to use cryptocurrencies because it does not rely on the lengthy procedure of identification and verification. The whitepaper mentions that cryptocurrency enables cheaper, faster, transparent transactions and thus facilitates more significant levels of liquidity. And Rupee intends to be a virtual currency for South Asia. Rupee seeks to simplify funds transfers and allow retailers to accept cryptocurrencies in exchange for goods and services.
To realize its vision, Rupee seeks to use the below-mentioned strategies:
Brand Recognition: The whitepaper claims that Rupee is a well-known brand in South Asia, with 2 billion people. Today, the term "rupee" refers to traditional currencies in India, Pakistan, Indonesia, the Maldives, Mauritius, Nepal, Seychelles, and Sri Lanka. It has a significant emotional appeal for people in general in the region. Riding on this, the platform seeks to attract the attention of the South Asian community globally, especially in the United States and Europe.
E-Commerce: The Rupee team intends to provide e-Commerce solutions to everyone using cryptocurrencies. The RupeeBase marketplace seeks to allow merchants to trade their products at low fees.
Decentralized Platform: Rupee is a decentralized platform based on Hybrid. The network intends to provide customers with financial services without using intermediaries. Owners of Rupee can hold their coins in Rupee digital wallets.
Community: Rupee was established "by the people for the people" and is backed by a robust community.
Rewards Mechanism: Rupee's reward mechanism is based on Masternodes. To elaborate, Rupee uses special servers called Masternodes to power the blockchain. Masternodes are the next step in digital currency decentralization. Masternodes are complete nodes that verify new blocks of transactions in a chain and are partly responsible for governance. The Masternodes on the Rupee network enable the following services.
InstaSend: This function enables transactions to be completed in seconds, making it competitive with centralized payment platforms that offer fast transaction speeds. Users can instantly send payments with nominal fees using the Rupee InstaSend.
PrivateSend: Protects financial privacy by hiding the origin of funds on the blockchain.
Coming to the token, RUP is the native utility of the Rupee platform. RUP began as a of and has since evolved into a fork of . The fundamental goal of RUP is to serve as a mode of payment that allows users to transfer and receive cryptocurrencies quickly. The coin is also given out to those who run Masternodes. Users can also their RUP coins on the site and collect yields.
As mentioned earlier, Rupee was launched as a fork of Litecoin in January 2017. Gradually in 2018, the coin evolved into Rupee 2.0 by introducing . is the founder of Rupee. He is based in India and is the CEO of India Scap Mart. The Rupee team launched the whitepaper of the cryptocurrency in June 2018.
The early Rupee team sold 90% of the initially mined coins to financers on exchanges to raise funds for development. Currently, the total supply of RUP coins stands at 84 million.
RUP involves keeping the cryptocurrency in a wallet for a set amount of time and earning profits. Staking is one of the basic forms of decentralized finance, with the reward determined solely by the number of tokens staked and the length of the staking period. The longer the staking period, the bigger the returns. Running on , Rupee uses proof of stake to secure its network and form new blocks. Using proof of stake, cryptocurrency owners authenticate block transactions depending on the number of coins staked by a validator.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The current market cap of Rupee is $0.00. A high market cap implies that the asset is highly valued by the market.
The all-time high of Rupee is $0.94. This all-time high is highest price paid for Rupee since it was launched.
Over the last 24 hours, the trading volume of Rupee is $0.00.
The current circulating supply of Rupee is 0.
No, Rupee is not currently available on Coinbase, but you can sign up to get the latest news on Rupee and be notified when it gets added to our exchange.
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