The Prominent Cryptocurrencies Fuel The Real Growth By Serving A Useful Purpose
A renowned cryptocurrency analysis source, Invest finds that almost 50% of prominent 100 digital currencies help fuel growth and add real value to the public in general. According to it, hardly 40 cryptocurrency projects considered a viable working models that serve the real purpose. The entire study was organized by evaluating certain parameters like history, comparable analysis, project status, features in the offering. The main aim of the study is to focus more on Working Product that acts in real terms for the public.
Since we know that the market was hype in 2017 especially when cryptocurrency prices were at the highest level. The sudden rise caused another ball game called ‘Initial Coin Offering’ that accelerated its speed. Subsequently, the demand for cryptocurrencies rose especially for a casual investor that uses coins as a utility. This sudden rise caused the incremental however useless cryptocurrency called ‘Shit Coin’. In June this year, the utility has encouraged the crypto major Bitcoin that has declined by more than 20 percent so far. The another crypto major Ethereum has declined by more than 30 percent while leaving the crypto market in a complex situation to sustain in value. The crypto market enjoyed the same stint that capital market does. Let’s not forget that either crypto market or capital market the prices of assets are more inclined towards the macro fundamentals that makes them volatile. The prices are expected to be stabilized especially when certain correction takes place.
As per the most valuable source, CoinMarketCap, there are more than 1800 cryptocurrencies traded on more than 13,000 markets globally. Even though blockchain technology being utilized by all cryptocurrencies, almost 100 cryptocurrencies have been observed non-functioning. This may lead to a valid conclusion that not all that traded are the real value added to digital currency space. For example, the U.S. dollar amongst the other monopoly money act in the same way, however it’s only the dollar that adds real value to the markets and investors altogether.
As per the valid source from “Invest in Blockchain” the prominent cryptocurrencies are the ones that act as standard bearers in real terms. Those cryptocurrencies are none other than Bitcoin, Litecoin, Ethereum, Zcash and Bitcoin Cash. Needless to say that these cryptocurrencies have inbuilt and value-added features in place like, securing transaction technology, messaging services, privacy and investment opportunities among other exceptional benefits. As stated earlier, when the market becomes volatile, the certain correction will take place that will act to reduce all those inefficiencies and complexities prevalent in the entire ecosystem. It streamlines all those activities that artificially arise through a variety of speculative bubble game.
The whole scenario reminiscences us the past events. Let’s reiterate some of them where the 2008 market crash, the 2014 recession in the app market, the 90s dot-com bubble among others. These events have caused the markets to see redundancies out of capital and inadequate investment. However, at present especially when the regulators worldwide and securities agencies have become strict towards the worst scenario to occur, and so we may not expect the current marketplaces as speculative as those were earlier. This is of course dead weight in the crypto space.
No matter, which technology arrives in the market, the regulators have to execute stringent laws in order to streamline the entire ecosystem!! The real success is when achieved ethically!!