The cryptocurrency market is experiencing tectonic changes. It’s not about a 108.36% increase in the cryptocurrency capitalization this year. It’s about the projects who weathered the crypto winter and entering the field.
Pillars of the traditional financial market are coming…
The market seems to start maturing, with institutional investors increasing their exposure to crypto. On May 31st the number of Bitcoin contracts on the Chicago Mercantile Exchange reached an all-time high. Cambridge Associates in their research mentioned that the industry “is developing, not faltering” and suggested that institutional investors should begin exploring it. Finally, according to Binance research, institutional investors were buying units in Grayscale Bitcoin Trust at a 40% premium.
Given my VC background, I find the following evidence even more conceiving than the mere price of bitcoin. It’s the established companies tapping the waters. In June Apple revealed that iOS 13 would have a cryptographic developer tool. Prior to that in March Samsung presented cryptocurrency wallet for its flagship phone. Nevertheless, both Apple and Samsung are merely addressing the needs of the existing cryptocurrency community, without meaningfully contributing to its growth.
New long awaited coins: Grams (TON) vs GlobalCoin (Facebook)
There are two major IT projects that are set to push the horizons of the blockchain adoption. The first one is Facebook GlobalCoin initiative. It would be a huge PR event for the industry and would dramatically boost liquidity by introducing new investors who were not accustomed to the world of the blockchain.
The second one is obviously Telegram with its Telegram Open Network. The publicly available archive with the client was updated to the next version on June 6th. Despite lower user base than that of Facebook, TON would face a better adoption thanks to the following facts:
- Telegram is already widely adopted by the crypto community;
- TON will be a programmable decentralized blockchain;
- Grams, TON native tokens, are not stablecoins like GlobalCoin and hence will be more compelling from the investment standpoint;
- Last but not least Telegram has better publicity in terms of privacy.
All these facts prove that the future of the blockchain industry and cryptocurrency markets is quite bright.
Who are the major beneficiaries?
The major movers in the field became the cryptocurrency exchanges. Most of them are evolving into full-service financial companies, with crowdfunding functionality (IEO) and OTC desks. They also start targeting institutions. Some of them are still struggling to get traction with fiat payments though.
Overall, the cryptocurrency landscape seems to be clearer now, with many companies releasing nothing for months. With all the weeds taken out, we shall see a great advance in the blockchain space over the second half of 2019, in both financial services and blockchain segments.
Blackmoon’s part of the pie
As we outlined in our latest digest, Blackmoon has been working hard on introducing new products and functionality:
💼 Blackmoon wallet,
💳 Credit card payments,
🏦 Bank wires,
📈 as well as six new investment products.
We are not going to stop, and July is going to be a significant month for the company and our community.
Blackmoon plans to fundamentally improve the functionality of the platform. This will enable investors:
- to access a dramatically wider range of investment products,
- and manage their holdings more efficiently.
Moreover, this release will introduce new functionality of our native BMC token.
I’m more than thrilled to tell you more details soon. Stay tuned to our updates to reach new crypto horizons together with Blackmoon.
Handy links to stay tuned to our updates:
website: blackmoonplatform.com
telegram channel: https://t.me/blackmooncryptochannel
Twitter: https://twitter.com/BlackmoonFG
Reddit: https://www.reddit.com/r/BlackMoonCrypto/
DISCLAIMER
Investment in financial instruments carries a significant risk of loss and may not BE suitable for every investor. Before purchasing our investment products, please consider your level of experience, investment objectives and risk appetite, and consult an independent financial or legal advisor to ensure the product meets your objectives. Please note that your investments do not have capital protection and carry a risk of loss, including the loss of the entire investment amount; therefore, you should not risk the capital you cannot afford to lose. This material is presented for information purposes only and does not constitute a solicitation or investment advice.
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