We can all agree that for the last couple of years cryptocurrencies and crypto market have been the talk of many, with some saying that it is just a scam and some claiming that cryptocurrencies are the fourth industrial revolution.
Either way, you can’t deny that crypto coins are playing a game-changing role in the financial industry and if you play your cards right, you’ll achieve great success.
So, let’s get into details about the crypto market and great investment opportunities that exist in it!
Crypto Market And Its Capitalization
A cryptocurrency is a digital or virtual currency that uses cryptography for security. The underlying technology, blockchain, is used in many spheres ranging from healthcare to music.
The first crypto asset, Bitcoin, wasn’t actually created to be a currency. In fact, in words of its creator, Bitcoin was created as a cash system that doesn’t involve a third party. However, it didn’t go as planned.
The new currency received many mixed reactions. The transition from markets controlled by governments and other central authorities to a completely decentralized market is exciting for some, but also scary for many others.
The crypto market cap (market capitalization) is the market value of a crypto asset’s outstanding shares. In 2018, the cryptocurrency market cap was around $800 billion. However, on April 8, 2019, the market cap reached $185 billion. It is also estimated that by 2027, 10 percent of the global GDP will consist of crypto assets.
In order to monitor the market cap volume, transactions and track all the cryptocurrencies in one place, there have been created crypto portfolio trackers, which help investors organize their investing process effectively.
TOP Cryptocurrencies With The Biggest Market Shares
When you are dealing with the crypto market, reputation is a crucial aspect of investment choices in certain coins. Therefore, Bitcoin is an attractive asset for everyone in the crypto trading community.
Being the torch bearer for other digital assets, Bitcoin is the most popular and valuable asset and, in addition, the prices of other assets one way or another depend on the earlier mentioned crypto coin. Thus, it is always safe to have a large coin such as BTC in your wallet. Bitcoin’s market cap at this point is $96,5 billion.
Ether is the second largest crypto asset and the first largest decentralised app platform in crypto.This platform also allows usage of ‘smart contracts’. In comparison with BTC, the Ethereum platform is more efficient, corruption free and very immune to third party changes.
For those, looking to make a smart investment, Ripple is perfect. In the last couple of years, many banks adopted Ripple, which makes it the first one to be adopted by the masses in the financial industry.
For Ripple, it was not difficult to succeed, since they have received large funding, with one of the most prominent investors being Google. On the Ripple platform, not only can you exchange crypto assets, but also fiat currencies and commodities.
This crypto coin was released by Bitcoin in 2017 and was created by developers and miners as a way to resolve the scaling problem of crypto assets. Bitcoin Cash is cheaper, faster and more scalable than Bitcoin. However, the value of BCH is 10 to 15 percent of the Bitcoin value and it’s more volatile making this option attractive to trade.
The next big cryptocurrency to invest in is Litecoin. The crypto asset has high liquidity and a quite large market cap ($4,5 billion). LTC uses Bitcoin’s technology improving it and, thus, making Litecoin one of the fastest cryptocurrencies (safest).
Litecoin is also very sensitive on the surrounding news, that’s why any investor interested in trading with it, must be following the Litecoin news on a daily basis, as it can give you quite clear picture of what is going to happen with Litecoin price in a near future.
Important note. Any market, no matter, Forex, bonds, commodities or crypto, all have the same behavior. Markets moves based on the BIG volume reserve that one can see on the chart (D/W) big consolidations which follow BIG breaks ups or downs.
Look the pic below:
If you can find them, you know when the market cap will grow which subsequently will grow on price too.That is the institutional investors leverage compared to retail investors.
To summarize, crypto market cap is the amount of all crypto coins in the market that exist currently and, as mentioned above, higher market cap means that the digital asset is more stable, and vice versa.
Stay focused to not lose any potential deal due the market changes.
MATI GREENSPAN ETORO: “THE PRICE OF BITCOIN WILL RISE TO 50 000%”
Senior analyst of the cryptocurrency platform believes that the main digital coin has just begun its ascent to the historical maximum
The recent rise in the bitcoin rate was the beginning of a new “bullish” cycle, said senior analyst at eToro Mati Greenspan in an interview with Bloomberg. According to him, the price jumps of cryptocurrency are an integral part of the industry, so today’s decline should not surprise anyone.
“It’s just part of a big cycle. Bitcoin has gone through several cycles before… And now we are talking about an increase from 10 000% to 50 000%, in such a scale, rollbacks that can be 80% or even 90% are not excluded,” Greenspan believes.
The analyst cited the example of a winter decline in the price of bitcoin by more than 85% after the highs reached in December 2017. The current period Greenspan calls the new parabolic cycle.
The expert also said that in recent years, the industry has a lot of positive news that affect not only the cryptocurrency rate, but also its mass adoption. For example, Microsoft plans to create a system of decentralized identification on the bitcoin blockchain, and large American retailers will start accepting Bitcoin thanks to the partnership of Gemini and Flexa.
AMAZON RECEIVED A PATENT TO CREATE A CRYPTOGRAPHIC SYSTEM BY POW CONSENSUS
The technology giant Amazon has received a patent for various methods of creating a cryptographic system based on the PoW consensus.
The patent application was filed back in 2016, and the patent itself was issued this week by the US patent and trademark Office (USPTO). The paper describes how Merkle trees, among other things, can be used as a solution to problems of the proof of work (PoW) method.
The structure of Merkle trees allows you to check data transmitted between computers and in P2P networks such as blockchains. It is used to ensure that the blocks are not tampered with. PoW is a consensus-building method that is used to secure networks by asking a network member to do work that often involves using the computing power of a computer to solve complex mathematical problems.
The patent also mentions “cryptographic key”, “digital signature” and “public signature key”, among other concepts related to blockchain and cryptocurrencies.
COINBASE EARN BECAME AVAILABLE FOR RESIDENTS OF MORE THAN 100 COUNTRIES
Coinbase has announced that the Coinbase Earn program, which allows you to receive rewards for exploring various digital assets, will now be available to residents of over 100 countries.
Coinbase Earn was launched in late 2018 and initially access to the platform was by invitation only. As part of the pilot version of the program, users received a reward for training or passing the test on cryptocurrencies in 0x tokens.
“One of the main obstacles preventing people from exploring new digital assets was the lack of knowledge about these assets. Many of the people we interviewed expressed a strong desire to learn about various new cryptocurrencies in addition to bitcoin, but did not know where to start,” the representatives of the exchange said.
Now users of the program will be able to receive coins of various projects, such as Stellar (XLM), Zcash (ZEC) and Basic Attention Token (BAT), for passing training and completing tests on them.
SALES OF HARDWARE WALLETS LEDGER DOUBLED AFTER HACKING OF BINANCE EXCHANGE
As the head of the Ledger company Pascal Gauthier said, after the hacking of the largest cryptocurrency exchange Binance last week, the sales of the company’s hardware wallets doubled.
“Binance got hacked and on the same day our sales doubled,” Gauthier said at an Atomic Swap conference in New York.
Pascal Gauthier raised the issue during a debate, when the conversation turned on the importance of key storage crypto-currency exchanges and users. He stressed that the issue of security is critical in order to grow optimism around cryptocurrencies.
“We believe in the Ledger that the security is insufficient for asset protection. We think that this is a great technology, but its weak point is the end users and storage of private keys”, — said the head of Ledger.
He also noted that work on such an important aspect is full of stress. Especially at a time when the market capitalization is growing rapidly, and when it passes the $ 1 trillion mark, security will become even more important.
The attackers managed to steal from the exchange Binance 7 000 bitcoins and some user data, including two-factor authorization codes and API keys. After that, the company suspended the Deposit and withdrawal of funds and resumed them only on Tuesday.
AMERICAN BRAND ALYX WILL TRACK THE SUPPLY CHAIN OF CLOTHING ON THE IOTA BLOCKCHAIN
The American clothing brand Alyx intends to use the IOTA blockchain to track the supply chain of its products.
As part of the initiative, the company will work with a global manufacturer and distributor of adhesives, labels and labels for Avery Dennison clothing. This collaboration will allow Alyx consumers to have a complete understanding of the brand’s supply chain.
Users will scan the QR code and use the app to track the lifecycle of an item from its creation to the point of sale. Data on raw materials, as well as the place and date of production of clothing will be stored in the iota blockchain.
According to the Executive Director of Avery Dennison Debbie Shakespeare, this will allow the brand and consumers to be 100% confident in the accuracy of information about the process of creating clothes. The importance of this fact was also noted by the creative Director of Alyx Matthew Williams, explaining that the company produces goods, taking care of the environment and using recycled materials.
eBAY HAS DENIED RUMORS ABOUT ACCEPTING CRYPTOCURRENCY AS A MEANS OF PAYMENT
A representative of eBay denied rumors that the largest platform of online auctions plans to start accepting cryptocurrencies for payment.
“Cryptocurrencies are not accepted as a form of payment on the eBay platform, and this is not part of our payment strategy,” the company representative stressed.
As noted by the co-founder of the trading platform KoinStreet Roshan Mirajkar, in the cryptocurrency industry is quite difficult to distinguish the rumors from this information. Companies like eBay often pay a lot of attention to marketing, but they have problems with direct communication.
“The cryptocurrency industry is getting too big to ignore. But I’m not sure that they know the right way,” said Mirajkar.
In addition, there was information that a large trading platform TD Ameritrade, which holds more than $1.3 billion of assets, is testing the urgent trading of bitcoin and litecoin. This rumor arose against the background of the statement of the President of the company that many clients of the platform are interested in cryptocurrencies. However, the head of TD Ameritrade on digital assets Sunayna Tuteja denied this information:
“At the moment we are not testing these tools. We have a tool called paperMoney that customers can use to test their strategies. It’s a simulation, no real trades.”
Recall that the information about the possible start of accepting cryptocurrencies by the eBay platform appeared after the appearance of banners at the Consensus conference in New York.
LARGE US CHAIN STORES WILL START ACCEPTING CRYPTOCURRENCY FOR PAYMENT
Several large US chain stores, including Amazon’s Whole Foods food chain, announced the imminent availability of payment for goods with cryptocurrencies.
It is reported that, in addition to Whole Foods, cryptocurrency will be received by Crate and Barrel, a chain of home goods stores, Nordstrom, a network of expensive department stores, Baskin Robbins, a well-known café chain, as well as some other retail chains. Users will be able to pay for purchases using BTC, BCH, ETH and GUSD cryptocurrency. Such an opportunity will come from the cooperation of the stores with the payment startup Flexa and the Gemini exchange.
In order to pay users will need to install a special mobile application, Spedn. Scanners in stores will be configured to accept payment through the application, and the cashier will not even know that the user pays for purchases with cryptocurrency. The retail network will receive funds from Flexa in real time, and transfers will be available both in cryptocurrencies and in US dollars.
It is reported that the solution developed by Flexa, allows for transactions in real time, and the application makes the purchase process fast and trouble-free. The head of Flexa, Tyler Spalding, stressed that the use of cryptocurrency will help retailers to reduce the amount of commissions that are paid for cashless payments. In addition, cryptocurrency payments will provide shops with the opportunity to experiment with new types of loyalty programs.
The Winklevoss brothers (Cameron, Tyler Winklevoss), the founders of the Gemini exchange, which will be responsible for calculations and transfers, also noted that often the users are frightened by the high volatility of cryptocurrencies. However, this problem can be solved using a stable Geini Dollar, the rate of which is pegged to the US dollar.
Earlier, the leadership of the British travel company Corporate Traveler noted the desire of customers to use cryptocurrency as a means of payment, with the result that the company began to accept bitcoins for payment. It was also reported that the Starbucks network of coffee shops will introduce cryptocurrency payments by the end of this year.
THE US TOKEN TAXONOMY ACT WILL NOT TAX TRANSACTIONS FOR LESS THAN $ 600
The Token Taxonomy Act (TTA) implies tax exemption for cryptocurrency transactions of less than $600, Jerry Brito said.
Speaking at the Consensus conference, the director of the non-commercial research and legal center for cryptocurrency, Coin Center, said that the law provides for changes in the tax base – this is an exception for some operations in cryptocurrency.
So, if the owner of cryptocurrency receives income from operations less than $ 600, he is not obliged to report profits to the US Tax Service (IRS).
Brito noted that regulators may require information on capital gains when using cryptocurrencies to purchase low-cost items, such as a laptop, plane tickets, or even entering into a contract using a smart contract.
The Token Taxonomy Act (TTA) was introduced in December by congressmen Warren Davidson and Darren Soto to give citizens the opportunity to freely participate in cryptocurrency markets using the token classification.
The adoption of the law will exclude cryptocurrency from classification as a security, respectively, they will no longer be under the supervision of the Securities and Exchange Commission (SEC), which regulates their use. TTA will also separate the jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Federal Trade Commission (FTC).
There are more rumors in the media that the world’s largest online auction service, eBay, plans to accept cryptocurrencies.
The fact that eBay is going to become a participant in the cryptocurrency market is indicated by the information placed on banners at the Consensus conference in New York.
The company has not yet made an official statement. If the information is confirmed, cryptocurrency payments will be available for 180 million active users of the site.
Adopting cryptocurrency can be a logical step after UTRUST, a cryptocurrency-enabled payment platform, hired former eBay and PayPal executive director Sanja Kon as vice president of global partnership in 2018.
Earlier, Scott Cutler, vice president of eBay Americas, said the company is considering accepting payments in bitcoins.
“This is a trend that everyone is talking about,” he said. “We take this idea seriously, because cryptocurrencies are becoming a more common payment instrument, but we are not yet ready to make it a reality.”
Rumors about the official implementation of cryptocurrency payments on eBay regularly appear for five years. However, the company still prefers to remain on hold.