Published
5 years ago on
November 09, 2018
“Over the coming years, we think that the market focus could turn increasingly toward cross trades between cryptocurrencies/tokens, which would transact via distributed ledgers only and not via the banking system.â€Trend of stablecoins The stablecoin trend began in the late months of last year with multiple giants in the industry launching stablecoins of their own experiencing a burst during the summer. Stablecoins are digital currencies which the whole purpose is to minimise the volatility of price fluctuation and they are usually backed by either fiat currencies like, gold, commodities and the US dollar or other digital assets. In the report, it also mentioned how the introduction of stablecoins in the crypto market resulted in Bitcoin trading volumes taking a proportional hit despite Bitcoin making up over 50 percent of total market valuation. Experts believe that this added the subsequent fall in prices that resulted in the current bear market. The highlight The highlight of the report is when it calls crypto’s “rapidly morphing thesisâ€. Tracing Bitcoin’s evolution from different roles of virtual cash, a new fundraising mechanism, a method for the store of value to its current form of a new institutional investment class What are your thoughts? Where do you see Bitcoin going in the future? Let us know what you think down below in the comments!
