Pro 14

To The Moon! Bitcoin Space Travel Gets Closer As Virgin Galactic Takes Flight

Billionaire Richard Branson appeared to cry tears of joy when his ‘Bitcoin-friendly’ Virgin Galactic reached the edge of space for the first time December 13.


World Sees First Commercial Space Flight

Branson, who revealed himself as a Bitcoin believer and investor in 2013, watched as SpaceShipTwo, the latest vehicle from the Virgin Galactic and The Spaceship Company, broke free of Earth to mark a “momentous achievement” for crewed space travel.

“SpaceShipTwo is now the first crewed vehicle built for commercial service to reach space. (With due credit of course to the amazing SpaceShipOne prototype for paving the way),” he wrote in a dedicated blog post.

Virgin Galactic aims to make both space tourism and long-distance point-to-point travel using rocket power a viable commercial enterprise.

In 2013, Branson announced the project would accept Bitcoin for flights, calling the cryptocurrency a “brilliantly conceived idea.”

“Sometime in the future, innovative payment models such as… Bitcoin will become serious challengers to traditional banks, which will spur more competition and give customers even more options,” he forecast at the time.

Galactic is a company looking into the future, so is Bitcoin. So it makes sense we would offer Bitcoin as a way to pay for your journey to space.

Bitcoin To The Moon

Like the Bitcoin ecosystem, the project has had its ups and downs. In 2014, a crash during the fourth test flight of SpaceShipTwo resulted in the death of its copilot, while its pilot sustained serious injuries.

In the intervening years, Blockchain technology has meanwhile become the focus of a more general push to advance space exploration.

As Bitcoinist reported, NASA is among the entities looking to enhance their operations using both Blockchain and artificial intelligence (AI), specifically within the field of communications.

Blockstream satellite

Bitcoin transactions can also be broadcasted via satellite. Four have been launched by Blockstream to date, covering a large part of the earth to protect against network interruptions and providing anyone in the world with the opportunity to use Bitcoin.

Virgin Galactic, meanwhile, will now continue to conduct tests on SpaceShipTwo with aim of creating longer fights and “creating thousands of private astronauts.”

What do you think about Virgin Galactic? Let us know in the comments below!


Images courtesy of Shutterstock

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Pro 13

Cambridge Study: ID-Verified Crypto Users More Than Doubled in 2018

The University of Cambridge Center for Alternative Finance says the number of verified cryptocurrency users has increased in 2018 despite the year-long bear market that has seen prices tumble more than 80 percent.


Retail Cryptocurrency Adoption is on the Rise

According to a study by the Cambridge Center for Alternative Finance, the number of verified cryptocurrency users has more than doubled in the first three-quarters of the year from 2017 figures. The study shows that there were 35 million authenticated cryptocurrency users as at the end of September 2018.

Cambridge University

This increase comes despite the bear market conditions that have characterized much of the year. According to Bloomberg, the study found that the majority of users are individuals and not business clients meaning that institutional adoption is still playing catch up.

Meanwhile, in places experiencing economic turmoil like Venezuela, citizens have been forced to switch to cryptocurrencies. For many of these people, borderless virtual currencies like Bitcoin can provide access to international payments and the global economy. The study notes:

Individuals can be hobbyists, retail investors, consumers, or users seeking a better investment or payment alternative.

The research also found a significant increase in the total number of cryptocurrency user accounts. However, it is important to note that a single user can control multiple addresses (i.e. digital wallets).

 Less than $100 in Bitcoin

In another report by Delphi, a Digital asset research company, only a few BTC wallets hold any significant amount of the digital currency, which supports the idea that retail investors are stocking up on small amounts – buying fractions of a bitcoin.

Of the 22.9 million addresses that contain BTC, 90 percent own less than a tenth of a bitcoin (~$340). The study also showed that 80 percent of those accounts contain less than $100 in BTC. At the same time, accounts with between 10 and 100 BTC own about 25 percent of the total bitcoins in circulation.

The growing number of verified users and number of active addresses, particularly with relatively small amounts, indicate the growing adoption of cryptocurrencies among the general population. Nevertheless, it’s not surprising that early adopters will reap the biggest rewards as Bitcoin and cryptocurrencies now seem to be going mainstream.

Do you think the increase in verified cryptocurrency users signals public confidence? Let us know your thoughts!


Image courtesy of Bloomberg, Shutterstock, Pymnts.com

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Pro 12

Coinbase Slammed For Venezuela ZCash Airdrop Being an ‘Advertising Strategy’

US cryptocurrency exchange Coinbase has received intense criticism for giving Venezuelan families a grand total of $1 per day – in altcoin ZCash, which it added to its books days previously.


Scroogebase?

In a blog post December 11, executives claimed that the initiative dubbed the “12 Days of Coinbase,” was meant to “empower those who don’t have enough.”

Coinbase completed a rollout of ZCash 00 to its own traders December 5, the price of which currently sits at its lowest since April 2017.

“Recipients can purchase food and basic supplies at a local store that accepts payments in crypto, subsidizing everyday expenses — this $1 USD equivalent per day can buy 1–2 kilos of protein or 2-kilos of starches and vegetables,” the post reads.

The initiative will award 100 families $1 daily for three months via GiveCrypto, a spin-off enterprise from Coinbase CEO Brian Armstrong.

As soon as the plans went public, however, both Coinbase and Armstrong himself faced a barrage of negative publicity ranging from skepticism over their efficacy to outright disgust.

Starving Venezuelans Turn to Bitcoin Mining in Desperation

On Twitter, commentators, including those living in poverty-stricken Venezuela, said the priority of schemes such as this and that of fellow altcoin Dash 00 was not to help those in need but rather to market altcoins.

Venezuela, they suggested, was being used by $8 billion Coinbase as a guinea pig to serve its own aims.

“I do not see how donations from # cryptocurrencies help individuals in (Venezuela),” José Rafael Peña, editor of Spanish-language cryptocurrency news outlet CryptoNoticias wrote.

I have seen so many campaigns to give away crypts to individuals, that I only see it as an advertising strategy for those who plan to donate them.

‘You Piece Of Sh*t’

Others were much more damning.

Addressing Armstrong, software developer Udi Wertheimer lambasted what he viewed as a display of miserliness.

“The ‘Venezuela meme’ has been overused by ‘crypto’ scammers for years now, but I’m shocked to see Brian do the same,” he tweeted.

“Giving $1-worth of Zcash to Venezuelan families? (Get the f*ck out). Give them USD cash you piece of shit. Unbelievable[.]”

Coinbase’s publicity woes had continued from last week. Publishing an article about the exchange’s plans to introduce 30 new altcoins to its books, TechCrunch – perhaps inadvertently – gave it a URL describing Coinbase as “dabbling in shitcoins.”

The move became an incongruous hit on social media, seeing comments from some of the cryptocurrency industry’s best-known names.

What do you think about Coinbase’s charity giveaway? Let us know in the comments below!


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Pro 11

Les Minimum Wage

Master of the house, President Macron has heard the people singing a song of angry men. Though it’s possible he has a heart full of love, many French citizens still see him as living in a castle on a cloud. 


If you’ve never heard the play Les Miserables, or if you’d like to listen to it again, here’s a good version on YouTube. Personally, I haven’t been able to stop listening to it since the Yellow Jacket protests began.

France has recently become the most taxed nation in the OECD, which could explain why the ongoing protests are one of the worst in the country’s history.

Macron’s plea yesterday and his promise to raise the minimum wage may calm nerves just a bit, but the problem may yet persist. We’ll need to see how things progress over the next few days.

Certainly, the economic impact of a wage increase and less taxes is probably the least of the market’s woes at this exact moment. Nor the estimated $11 billion loss for small businesses.

What’s most concerning for global markets though is not just Paris. As central banks begin to engage in economic tightening we’ll need to keep our eyes open and hope this doesn’t spread.

@MatiGreenspan

eToro, Senior Market Analyst

Today’s Highlights

Resistance at 24601

Brexit Drops the Pound

Two Biggest Crypto Markets

Please note: All data, figures & graphs are valid as of December 11th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Stocks sunk to new depths yesterday with the Dow Jones reaching its lowest point since May 4th. The drop came as volatility increased and bond yields continued to slide.

Though things were indeed looking down, at the end of the day came a miraculous recovery and US Indices began a rally somehow managing to end in the green.

Most other markets were already closed by the time the rally came in and so did not reap the benefits. Perhaps more notable is that the banking sector didn’t recover at all.

In this graph from Bloomberg, we can see the Bank Index (white) against the tech sector (blue).

Stocks today are decidedly flat today. Perhaps it’s a coincidence but the Dow Jones is showing a heavy resistance line exactly at 24601. If it manages to get over that line, the recovery could very well sustain a bit longer.

As the US Dollar continues to range, we’ll keep our eyes on Crude Oil’s lows and Gold’s highs, both of which are seeing a test at the moment.

Brexit

Theresa May managed to pull another short-term victory by delaying a critical vote in Parliament. At this point, she can clearly see that there isn’t sufficient backing to pass her current Brexit deal. So now she heads to the EU to see if there’s another victory to be had. Perhaps one that will somehow help garner support at home.

At this point, some observers have pointed out that she might be trying to wind down the clock. If the current deal is better than no deal, and there isn’t sufficient time to negotiate a new deal, the perhaps the government will have no choice but to accept the deal that’s on the table.

In any case, as May addressed members of the parliament yesterday the British Pound sank to new lows (purple circle). On the bright side though, we’re seeing a strong recovery coming in this morning.

Crypto Regions

Results are now coming in for India’s provincial elections. Unrelated, but in an interesting turn of events the Governor of the Reserve Bank of India has stepped down. Even though Urjit Patel says that he’s stepping down for personal reasons, it hasn’t stopped pundits from speculating as to why he’s leaving the post after serving the shortest term since 1992.

The most common theory is that Patel was facing increased pressure from the government to employ a looser monetary policy, something he presumably was not prepared to do.

The reason I’m telling you all this in the crypto section is because India is by far one of the largest potential markets for crypto adoption and it was the RBI who set up the current crypto-blockade in the first place. There is now a committee to select the next RBI Governor and this can actually be a good thing for crypto outlook in the country, depending on who they pick. Well, it can’t be worse anyway.

In any case, the new Governor, whoever it may be will probably have their hands full with everything else going on anyway. As well as the finance ministry. So, unfortunately, this whole thing could get swept up in politics. However, this new progression might prove to be a wild card for crypto enthusiasts.

Meanwhile, it seems that China, the largest potential market for crypto adoption, has stepped up their rhetoric against digital assets. The People’s Bank of China is showing us how on top of things they are by clarifying that STO’s (a term that has only recently gained popularity) will not be tolerated.

Though there are no Chinese laws against Security Token Offerings, it seems the punishment is now banishment.

The above two updates may not have much effect on short-term prices but the second one is proving to be a popular talking point on crypto social media as we continue testing the lows and searching for the floor.

Passez une super journée!


This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.

The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets. 

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. 

Feature image courtesy of Shutterstock.

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Pro 10

Venezuela and Argentina Are Buying the Dip, New Data Shows

If you look at the latest activity on Localbitcoins, there has been a large spike in recent days from both Argentina and Venezuela buying bitcoins. Both these troubled Latin American countries have displayed a steady increase in buying cryptocurrency due to rising inflation and troubled economies. But is the sudden uptick evidence of the two countries buying the dip?


What’s Happening in Venezuela?

Looking at the charts, one of the first things you notice is that bitcoin purchases in Venezuela didn’t really begin in earnest until the second quarter of this year. Since April of 2018, the volume has increased from around 17 million to over 3 billion for the second week of December 2018, where it rises astronomically.

coin-dance-localbitcoins-VES-volume

This likely indicates a lack of knowledge, trust or means to purchase virtual currency. But as the economic situation has worsened and the government devalued the national currency by 95 percent from one day to the next, more and more Venezuelans are looking to shield their wealth.

Bitcoinist spoke to Eugenia Alcalá Sucre who founded Dash Venezuela earlier this year and she explained the many problems in Venezuela that prohibit them using their national currency. Not only is its value almost entirely wiped out from one day to the next but there is a limit to the amount you can take out of machines and a scarcity of notes. She said:

Bills are really, really scarce. You go to the bank and they only give you a little amount. They have limits. Even though you have the money in the bank you can’t take it out.

Venezuela is one of the most important countries for Dash cryptocurrency acceptance, with more than 2,500 merchants taking it including KFC.

While the western world is in panic at the crashing crypto market, for Venezuelans, it’s still a better option than their national coin. They’ve been using bitcoin (BTC) 00 to shield their wealth despite the value going down.

Volume Keeps Rising

However, the recent spike on Localbitcoins could indicate that more people are getting in as a lower price makes buying bitcoins more accessible.

Bitcoinist spoke to Rodrigo Marques CEO of Latin America’s largest crypto company and bitcoin investing platform Atlas Quantum. He said:

Look at the countries in Latin America, especially Venezuela and Argentina. It’s very hard for people to move money outside of these countries and people see bitcoin as a way to protect their investments. So it’s not just a matter of it’s faster and more stable, but making it possible for some people in some place to actually hold on to what they own, protecting their wealth.

A Look at Argentina

Argentina is in a similar situation, and Bitcoinist has been reporting on how Argentinians are using cryptocurrency to protect their wealth from inflation.

Reports of easing regulation could also see as many as 4,000 bitcoin ATMs in Argentina go online in the near future. However, the number currently still stands at two. According to Reuters, though, this is expected to rise to 30 by the end of the year.

Argentina is not undergoing a humanitarian crisis the likes of Venezuela. However, it is no stranger to inflation, which can almost be defined as hyperinflation since it is expected to reach 40 percent by the end of the year.

Moreover, the Argentine peso has lost more than 50 percent of its value against the dollar in 2018 alone. This makes it extremely hard for Argentinians to buy outside goods, to leave the country, or to protect their wealth.

Unlike Venezuela that is relatively new to cryptocurrencies, Argentina has demonstrated a longer history of buying bitcoins. Like Venezuela, though, it looks as if the dip of the week of November 24 when bitcoin was over $4,000 and the psychological barrier to it falling well under $4,000 now has encouraged more to jump on the bandwagon.

coin-dance-localbitcoins-ARS-volume

Are Argentina and Venezuela Buying the Dip?

Are Argentina and Venezuela buying the dip? It’s possible. However, the uptick also appears to coincide with the most influential Bitcoin and Blockchain conference in Latin America held on December 6 in Santiago Chile, LA Bit Conf. As we’ve seen, trading volumes of bitcoin tend to rally upon an event or announcement.

Moreover, Chile despite a much lower volume of trading in the first week of December, also saw a huge uptick that coincides with the event.

Are Venezuela and Argentina buying the Bitcoin dip? Share your thoughts!


Images courtesy of Shutterstock

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Pro 09

Bitcoin Price Analysis: BTC Bounces But Bears Still in Control

Bitcoin price just pulled off a nice 10% bounce with the next level of resistance at $3,700. Let’s take a look at what can happen next?


Bitcoin Price: Market Overview

Bitcoin price 00 dropped to a new yearly low at $3,210 and the overall market cap now rests at $110.6 Billion. Clearly, bears are still running the show for BTC and the SEC’s  final postponement of a Bitcoin exchange-traded fund decision didn’t seem to help.

Crypto-fanatics will now need to wait until January 24th for the launch of Bakkt and February 26th for a final approval or denial of a Bitcoin ETF from the SEC. If the cryptocurrency markets’ trend reversal is dependent upon either of these events then we’ve got a long way to drop waiting on the unpredictable outcomes of each of these events.

4-HR Chart

Bitcoin 00 broke below the $3,550 and $3,400 supports and the cryptocurrency will likely mean that $3,700 will post a stiff resistance to overcome. However, at press time, BTC price has managed to break above the $3,600 mark and now looks poised to test $3,700.

The bounce from $3,210 to $3,615 was pleasant and seems to have caused shorts to cover, but bulls couldn’t muster enough follow through to maintain the move and BTC’s failure to cross above any of the overhead exponential moving averages show bears are still running the show.

This is also backed up by the extremely high number of shorts on BTC/USD and the fact that they snapped right back into place after yesterday’s bounce.

BTC Shorts

After taking a glance at the daily and weekly RSI, Stoch, and MACD there’s not much positive to say about BTC short-term future. Perhaps the silver lining of all this will be that the bears are uber-confident right now and an all-time high amount of shorts can be forced to cover (like yesterday) when Bitcoin pulls off a 10% bounce.

In the past, Bitcoin has shown a propensity for weighty 20%+ rallies. A strong upside move would force shorts to cover and provide rapid gains for those trading BTC at the current range.

Daily RSI / Stoch / MACD

Weekly RSI / Stoch / MACD

Monthly Chart

Now for a dose of reality. If bears don’t let up, BTC can drop to 3,000, $2,545, and $1,400.

Safe trading friends and please remember to always use a stop loss. More cautious traders might want to wait until Q2 and Q3 of 2019 in hopes of a trend reversal.

[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for analysis are provided by TradingView.]

Where do you think Bitcoin will go over the short-term? Share your thoughts in the comments below!


Images courtesy of Shutterstock, Trading View. Market data sourced from Coinbase.

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Pro 07

Six EU Nations Sign Agreement to Regulate Distributed Ledger Technology (DLT)

The Government of Malta this week announced the signing of a joint declaration of cooperation on Distributed Ledger Technologies (DLT). They joined a group of six other Southern European countries; France, Italy, Portugal, Spain, Greece, and Cyprus.


Transformative Technology

The countries released a joint-statement noting a shared view that the digital sphere is an ideal policy area for future cooperation. It also claims that DLT (a.k.a. blockchain technology) and other emerging technologies, such as 5G and artificial intelligence, could transform the countries economies.

The Digital Economy and Society Index shows that Southern European countries have huge potential for growth in the sector. The countries believe that a cooperative approach can lead to an expansion of their digital ecosystems, making the region a leader in this industry.

Game Changer

Distributed Ledger Technology is particularly singled out for its potential to further democratize the European economic model. The trust-based technology could transform services in areas as diverse as education, shipping, land registry, and healthcare.

This would increase transparency and accountability, whilst reducing administrative burdens. The promotion of blockchain enhanced solutions could empower citizens to take control of their personal data and online privacy.

Plan Of Action

The signees of the statement believe it is a government responsibility to promote emerging technologies and pledge to do so. This will be through educational programs at all levels to ensure citizens understand the technologies potential.

They state that “any legislation on Distributed Ledger Technologies should take into account the decentralized nature of such technology and should be based on European fundamental principles and technological neutrality.”

The countries plan to hold regular technical meetings, sharing best practices in the sector and exploring potential cross-border DLT projects. They commit to regular progress reviews and call upon the European Commission to continue working on the European Blockchain Partnership.

Go Southern Europe!

The full text of the statement (in English) is available here.

Will regulation of DLT help boost adoption or hinder it? Share your thoughts below!


Images courtesy of Shutterstock, Twitter

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Pro 07

‘Buffett Bet 2.0’ – Investment Fund Puts $1M on Bitcoin to Outperform S&P 500

Asset manager, Morgan Creek Digital, is offering an interesting wager if anyone is willing to take it. It’s willing to bet $1 million, that its Bitcoin-focused Digital Asset Index Fund outperforms the S&P500 over the next ten years.


Buffett Bet 2.0

The fund tracks ten major cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, although the bulk (78%) is Bitcoin. Morgan Creek is so sure of their success, that the partners are putting up the stake themselves.

The wager has been dubbed ‘Buffett Bet 2.0’, after a similar bet made by Warren Buffett, that the S&P500 would outperform a selection of hedge funds over a ten year period. Buffett won that bet, collecting his prize just last year.

Morgan Creek partner, Anthony Pompliano, says the plan is to donate the proceeds to charity, win or lose.

Cold Winter

The bet comes at an interesting time, as Bitcoin (BTC) 00 and other cryptocurrencies are enduring a prolonged crypto-winter. However, US stocks have also fallen recently, due to a number of concerns over global outlook.

Pompliano explained that the company was not just being bullish on crypto, but that its competition was also not exactly at an all-time high.

This is a combination of our outlook not only for the upside of cryptocurrencies but also the outlook on public equities.

Bad Form

Morgan Creek had better cling to the mantra of ‘past performance is not indicative of future results,’ however. The last big bet on Bitcoin is just weeks away from losing.

A call option costing $1 million was placed on a bitcoin price of $50,000 at the end of last year. Following a year which saw the price move from $1000 to $20,000, that may have seemed like a safe bet. However, for the contract to be worth anything now, Bitcoin must see an increase of almost the same magnitude in just three weeks.

Let’s hope that Morgan Creek Digital has stocked up on rabbit’s feet, horseshoes, and four-leaved clovers.

Earlier this year, an Australian investor tried to make a $6.3 million bet with Berkshire Hathaway, that Bitcoin would top its share price by 2023. It’s not thought that the famously crypto-skeptic company took him up on the offer.

Who will win the bet? Share your prediction below!


 Images courtesy of Shutterstock

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Pro 06

Where Will Bitcoin Price Go as It Nears November Lows?

The Bitcoin price was hovering near its lowest levels in 14 months December 6 a fresh downturn continued to take its toll on investors.


Another Grim Day For Bitcoin Traders

Having lost support at $4000 Tuesday, 00 slipped further towards lows set last month around $3500, reaching $3680 before appearing to claim new support at $3700.

In common with behavior which has prevailed since the Bitcoin Cash contentious hard fork November 15, altcoin suffered similar and often worse losses, led by Bitcoin Cash itself.

The troubled asset, which split into two rival chains following the forking event, was trading at its lowest price ever Thursday at just $118.

BCH00, which has come to refer to the BCH ABC chain of Bitcoin Cash favored by Bitcoin.com owner Roger Ver and Bitmain co-founder Jihan Wu, has consistently performed the worst out of the top twenty cryptocurrencies by market cap.

Rival chain Bitcoin SV00, by contrast, was showing rare strength at press time, extending its inverse correlation with BTC.

ABC’s woes have increased this week after rumors Wu’s Bitmain had sustained Q3 losses amounting to around $740 million – the company’s worst ever result.

Eyeing ‘Final Capitulation’

For Bitcoin itself meanwhile, commentators appeared displeased yet undisturbed by the latest dip.

In an analysis on December 2, technical guru Willy Woo produced his latest mid-term forecast for BTC, which forecast a “final capitulation” followed by a decisive end to the 2018 bear market should Bitcoin hit its current levels.

“…We can expect more range bound sideways action, followed by final capitulation, and an end of the bear market earlier, around Q1 2019,” he wrote on Twitter, adding in a subsequent comment:

If capitulation has indeed happened then we would be in an accumulation phase right now. But the key signs of this have not happened.

What do you think about the Bitcoin price? Let us know in the comments below!


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Pro 05

Tether Dominance Of Stablecoin Market Falls To 74%

As 2018 began, with only two competitors, Tether commanded 94 percent of the stablecoin market. With the year seeing the emergence of 8 new players in the space, that dominance has fallen to 74 percent.


Flood Waters

It seems that the cryptocurrency du jour is the US Dollar, or at least the stablecoins pegged to it. This year has seen a wealth of new offerings flood to market, causing exchanges to reassess how to list them.

Huobi added its own stablecoin to the fray, with the launch of HUSD. This is interchangeable with and amalgamates Paxos, TrueUSD, USDCoin, and Gemini Dollars, allowing deposits and withdrawals for no conversion fees.

Binance also introduced changes, to clearly identify markets with stablecoin pairings.

Chip Chip Chipping Away

Forgetting the headline figure, 74 percent is still a full three-quarters of the market, which is quite significant. On average, each new competitor eroded less of Tether’s market share than the original two.

Which illustrates the value in this case of being first to market, compared to the comparative value of your product. Despite the continuing criticism and scrutiny of Tether, it maintains a market share that its competitors are all vying for.

Stablecoins Aren’t Going Anywhere

Stablecoins are certainly divisive. The touted benefits are questioned as often as they are lauded. Are they just the answer to a problem that nobody really had in the first place? Or are they a necessity in the evolution of crypto?

Either way, they are fast becoming a permanent fixture in crypto-news and shaping the current crypto-landscape. As more and more players continue to move into the market, stablecoins are clearly the current craze in the nascent industry that has struggled as a whole against the USD in 2018.

What remains to be seen is the ongoing impact of this on Tether. Will each new project continue to nibble away at its market share? Will a plucky young upstart find enough popular support to launch a serious uprising and eventually usurp the king? Or will the overcrowded throng of hungry contenders start to cannibalize each other’s piece of the pie?


Images courtesy of Shutterstock, Twitter

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