Cryptocurrency News and Discussions
The Crypto market has seen its ups and downs, only to start bouncing back. The news and discussions around the Crypto-verse never fade as there is an army of issues that shake the industry with regular and sharp precision.
In this article, we’ll focus on the hot talk of the Crypto-town. What’s been happening?
Bitcoin Rise and Market Dominance
After seven months in the challenging bear market, Bitcoin regained its dominance and exceeded the price of $8,000 per bitcoin in July. The price has dropped slightly since then, but BTC is still dominating in terms of market capitalization. On a side note, have you checked our article on market cap?
Other altcoins are expected to thrive alongside Bitcoin as we all know that BTC is the trendsetter in the market. When its price and exchange rate rise, all other major altcoins tend to follow, and vice versa.
There’s just only ‘but’. If new ICOs (Initial Contract Offerings) are launched massively, which has been the case since 2017, Bitcoin may see its Crypto cap decrease even further. This, however, is a natural process. We’ve come a long way since the times when the Crypto market was almost totally represented by Bitcoin, with a solid 85-90% dominance of the industry.
The Crypto market is known for its extreme volatility. On the one hand, this is a widely discussed issue. On the other hand, there is disagreement in the industry about the best way to reduce the volatility of cryptocurrency prices.
To somewhat stabilize the prices, much more money needs to enter the sector. However, to attract serious financial institutions as potential contributors, better regulations are needed. For now, the issues of money laundering and terrorism financing pose a massive barrier to the wider acceptance of Cryptos by such financial institutions.
That is why adopting the best KYC/ALM practices is so important when it comes to solving the financial fraud issues in the Crypto market. Did you know that we covered the importance of KYC in one of our previous articles?
Taking Crypto to the Next Level
No matter the pitfalls, we’re not very far from the massive adoption of Cryptos. Facebook has reportedly engaged in conversations with blockchain projects – including Stellar – and is expanding its team to focus on blockchain technology. Starbucks has also recently announced a partnership with Bakkt, a new intercontinental exchange whose mission is to create an open and regulated global ecosystem for digital assets.
Facebook and Starbucks are not the only ones to get involved. Last week, Apple co-founder Steve Wozniak announced his plans to get involved in a blockchain project for the first time. This statement was made at the ChainXchange blockchain info conference and reported by NullTX on August 19.
The reason behind it is that Wozniak is absolutely fascinated with Bitcoin and sees the use of Ethereum blockchain similar to that seen on Apple, with thousands of companies developing their own applications on the platform.
If such giants as Facebook, Starbucks, and Apple join the Crypto-forces, we can consider it taking the industry to a whole new level. This will let us see more stakeholders enter the market, adopting Cryptos and bringing in the much needed investments.
To think about it, having Facebook on the Crypto-side alone would lead to the emergence of an amazing global peer-to-peer (P2P) payments model based on smart contracts within a social network.
CoinMetro Driving Blockchain Innovation
Getting super mentions in the press, CoinMetro is a one-of-a-kind financial exchange ecosystem that will drive the future of blockchain innovation, moving Crypto forward.
Above all, CoinMetro’s main goal is to simplify Crypto and push mass adoption. Creating a fully licensed tokenized ecosystem, CoinMetro provides a gateway for novice and professional traders – as well as both experienced and not so experienced investors – to get involved in the Crypto-space with an ease-of-access unlike no other in the industry!
Whatever your experience level, CoinMetro has your back and plans to offer 3 unique views – a basic exchange, this Intermediate exchange, and a detailed trading view for the gurus. In other words, you can always start, continue, or advance with CoinMetro.
One thing you must get used to is the crazy ICO boom that started already in 2017. There are no regulations as to how many ICOs can be created, so we can say that this is the Wild West of investment.
Anyway, ICOs continue to be an essential tool to raise funds and involve a wider number of people from around the globe.
However, you need to be aware that all things considered, there will be a lot of unregulated ICOs, which means that you need be careful and avoid scam. In case you plan to invest in some ICO, choose reliable Crypto-funds that only list fully transparent ICOs with proven track record.
We are all witnesses to the most technologically advanced age in the long history of mankind. The recent global march of blockchain technology shows that the predictions for cryptocurrencies made years ago actually came true.
Cryptos are entering more and more areas of our lives, which undoubtedly creates the need for new regulations and laws to adapt to the changes of this fast-moving environment.
Finally, if there’s anything you need help with or would simply like to share your thoughts, ideas, and suggestions, drop us a line!
See you soon-ish!
The CoinMetro Team
P.S. We love our blog and hope you enjoy reading our articles as much as we enjoy writing them.