After a significant drop in valuation in 2018, the cryptocurrency market has nearly tripled this year. Major tech companies around the world have explored the possibility of using cryptocurrencies to improve and secure their transactions. Cryptocurrency also finds its way into the gambling industry and can be used Omnia uk to offer cryptocurrency payment options in the coming years. Here are some of the new cryptocurrency trends for the next year.
Stablecoins may dominate the industry
Stablecoins were created to offer a simplified, stabilized and secure means of transactions. According to a recent blockchain report, at least 57 stablecoins have been issued or are in development worldwide. In addition, the Gemini Dollar and Paxos Standard stablecoins have been approved by the New York State Department of Financial Services. Stable coins take advantage of the benefits of cryptocurrencies such as transparency, security, fast transactions, and privacy, without losing the stability guarantees that come with fiat currency.
Stable coins, from migrant workers who need to send money to their families, to businesses looking for an effective way to make foreign payments, can benefit all of them.
Corporate hippos move to crypto
Tech giants and international financial institutions have shown interest in stablecoins. In 2019, Facebook and JPMorgan Chase announced their own tokens. While Libra and JPM Coin are expected to be released by the end of 2020, it remains to be seen if other companies will follow this trend and announce the release of their stablecoin.
The purpose of the JPM coin is to solve two main problems: the expensive settlement process and the instability of money stored in cryptocurrency. JPM coin will not work on public networks like regular cryptocurrencies like bitcoin и ether ... According to New York times, Libra will benefit from Facebook's large user base. With 2,7 billion people using Facebook every month, its coin could become the most used cryptocurrency.
Cryptocurrency is becoming a major element of the financial ecosystem
Between 60 and 000 transactions occur daily on the Bitcoin network, and Bitcoin is far from the only cryptocurrency. Large companies in the financial and fintech industry entered the cryptocurrency sector in 70. All of them offer bitcoin futures and other opportunities to institutional investors. Given the rise of cryptocurrencies in the last decade, this can only be seen as the starting point of the digital currency revolution. Regulatory changes and new technologies can have an impact on the financial market, and they will continue to operate in the coming years.
More Altcoins, More Features
The number of altcoins is growing in the market. Since the initial exchange offering (IEO) is the most popular crypto-based crowdfunding platform, Binance Coin is expected to be in high demand. Bitcoin, Litecoin, USDT and Bitcoin Cash are considered the best coins for payments. Ethereum, Tron, EOS, and NEO are probably the most popular for DApps. The new coins should provide a different feature to glow in the market.