RAPTOR COIN, the blockchain platform behind bitcoin, is about to launch a new kind of digital coin, one that could boost the price of the virtual currency and help make it a more popular and valuable asset.
The announcement of RAPTAR coin comes as the value of bitcoin has plunged in recent weeks as investors have worried about a potential slowdown in China’s economy, as well as worries about the currency’s safety.
The price of RTP token, the currency RAPTRAC, fell by more than 40% last week after its launch.
The digital currency is similar to bitcoin in that it is issued on a peer-to-peer network and uses a distributed ledger to manage transactions.
RTP tokens are also called “virtual currencies,” and they can be traded on platforms like exchanges, such as the Mt.
Coinmarketcap.com, which tracks RTP prices, said the new digital coin could be worth as much as $100, according to its creator, a company called Ripple Labs.
Ripple is currently raising about $1 billion in venture capital to launch the coin.
RAPTS token is intended to be a more secure and robust alternative to bitcoin’s virtual currency.
RIPLOT, a similar token, is designed to make the RTP currency more popular.
The new coin will allow users to use a mobile wallet to store RTP, which could increase its use in China, where it is often sold on the black market.
The company has already raised about $4 million, and is expected to be listed on the New York Stock Exchange by the end of the month.
RPT token holders can also create an account for their own RTP.
The coin is slated to launch in the third quarter of this year, according the company.
“The value of RPT is in the tens of thousands of dollars,” said Ryan Mair, a RTP coin investor.
“I expect that in the next two months it will start climbing to $10,000, and I expect it will keep rising.
If you have a lot of RTS, it’s probably going to become more valuable.”
RTP is a digital currency that is backed by RTPs hard-fork, or a change to the protocol that makes it possible for more transactions to be accepted on the blockchain, and by the issuance of new RTP coins.
The blockchain is a network of computers that manage data on a distributed network.
Users can buy or sell digital currencies with digital assets, such a bitcoin, ether or a coin called a ripple token.
Ripples are similar to gold or other precious metals, but unlike those metals, RTP has no fixed value.
The RTP platform will work to ensure the digital currency can be used and valued in ways that make it easier for ordinary people to buy and sell it, Mair said.
Rripples value has been increasing in recent years.
The cryptocurrency peaked in July 2016 at around $5,500 and then has been declining.
In 2017, it hit $2,000.
Last month, it traded for about $2.85.
The value of all RTP in circulation at the time of the price spike was about $6.7 million, according Ripple’s website.
The currency is currently trading at around 20% of its peak.
Ripplers value is not a good sign for bitcoin, but it does signal a potential boost for the digital asset, which has been struggling to gain traction in recent months.
A surge in popularity could make bitcoin’s value more attractive to people who are looking for a safer way to store digital money, said John R. Williams, managing director of digital assets for UBS Asset Management.
The virtual currency is also popular with people who don’t want to hold bitcoin.
For example, many people don’t have bank accounts, but they can use the Ripples to purchase things such as goods and services.
“If it’s just a small number of people, it will go away,” Williams said.
“You can buy a few thousand coins a day and have them all disappear overnight.
The same with bitcoin, the value is going to go up.”
Associated Press writer Justin L. Mack contributed to this report.
Follow CNBC’s Money and Markets team on Twitter at http://twitter.com/moneyandmarkets and http://www.twitter.net/moneymarket