From IEO and emerging altcoins to the ICO Wallet, ADN Coin predicts cryptocurrency trends in 2020 that you should watch out for.
We’re only a month and a half away from saying goodbye to 2019. A lot of things happened this year in the crypto sphere alone, and we at ADN are excited for whatever is in store for us in 2020.
If you have been reading the news in the last couple of months, you will notice a number of developments that will have a profound impact in the crypto sphere for at least a couple of months to years possibly. We will go through these briefly, and provide you four crypto trends that we believe will have a great impact in the cryptocurrency community.
Three Events That Could Influence Crypto
First is China’s comments on Bitcoin and blockchain technology. We consider this one of the most surprising turns of events given the fact that the Asian economic behemoth had a negative stance against cryptocurrency and crypto mining for years. Not only does the country exalt blockchain technology now, but it would also ban all materials that criticize blockchain.
Second is the wave of protests that are happening across the globe: Hong Kong, Chile, Spain, France, Russia, Indonesia, to name some. These protests are so sporadic that we find it difficult to pinpoint any common factor except the citizens’ dissatisfaction with their governments.
Third is the thawing of the metaphorical snow from the so-called ‘crypto winter’. Of course, the crypto market today is a far cry from the late 2017 bull run, but as many experts have said, the reason for it is that the market is more mature now than before. In fact, one study said that a single market manipulator has caused the Bitcoin bull run in 2017.
Four Crypto Trends in 2020 You Should Prepare For
Given the above events, we have come up with four possible things that could become big in 2020. Ready for them? Here they come.
1.Crypto Will Boom
Not that we are being bullish about it, but China’s new approach to blockchain technology and even Bitcoin will ultimately boost the crypto market in one way or another. We don’t know whether the price of Bitcoin and other altcoins will at least equal those from post-2017, but we are certain that there will be more people who will be using cryptocurrency.
After all, China is one of the biggest economies in the world and is indisputable in terms of population. And to hear the President Xi Jinping utter flowery remarks about blockchain will definitely encourage the Chinese people to open up to cryptocurrency even more.
Also, many experts claimed that Bitcoin has reached its bottom this year, and that the crypto winter is over. To be sure, Bitcoin and many major altcoins are having a sluggish run nowadays, but many are not worried about it.
On top of these, we also saw Bakkt getting approval from the New York Department of Financial Services (NYDFS) for its Bitcoin futures and custody service for institutional clients.
2.Privacy Will Be Key
The world has its eyes on Hong Kong due to the months-long protests that have become so massive to the point that the US President Donald Trump even had to comment on the events.
Aside from the deaths, destruction, and the countless number of schools and businesses that have been affected by the protests, we have seen a number of changes that have taken place in Hong Kong. One of these is their reluctance in using the Octopus card, which was commonly used for transport and for other electronic payments.
Those who expressed aversion to the said payment method were fearful that their identities will be revealed as well as their activities. For those actively participating in the protests, their privacy needs cannot be overstated.
Thankfully, cryptocurrency enables them to have private transactions. In fact, businesses have begun to accept Bitcoin, Ethereum, and Litecoin amid spikes in demand.
The same thing may occur in other countries as more citizens begin to actively voice out their complaints against their respective government. For this, privacy-based altcoins like Monero and Zcash can prove useful.
3.More Altcoins, More Functions
We also note a number of altcoins that are rising, as well as functions that are going into mainstream. For example, Binance Coin is expected to continue its demand as the initial exchange offering (IEO) remains the most popular crypto-based crowdfunding platform.
More altcoins will join the fray and take their place in the crypto market. Lots of altcoins enable various blockchain uses. But for each use case, there are a couple of altcoins that are considered top: for payments, Bitcoin, Litecoin, USDT, and Bitcoin Cash are arguably the best options. For DApp, Ethereum, Tron, EOS, and Neo are probably the most popular.
For new contenders to shine, they need to provide another utility that other top altcoins are not hinged on. One example is PAC Token, an altcoin created by and for the boxing champion Manny Pacquiao.
4.IEOs Will Grow Further; So are Those Against It
We also expect IEOs to continue being the most popular crowdfunding platform in 2020, given the fact that security token offerings (STOs) will be kept a close eye on by financial regulators.
However, more people are voicing out their concern for IEOs; popular tech website Hackernoon even bothered to publish a blog that discusses the disadvantages of IEOs.
The blog explains,
”Now … ICO and Exchanges work … together to pump up the price, being able to freely manipulate the price of the token and print free money. As Cryptocurrencies are a totally unregulated market they are pretty much free to do whatever they want.”
Many claims that IEOs defeats the purpose of cryptocurrency, which is to enable decentralization. If centralized exchanges have the power to list or not list a token, as well as to rack up commissions for facilitating crowdfunding, then this shows that decentralization is too lofty an ideal for anyone to attain, even with the existence of blockchain technology.
The ADN Proposition
We at ADN exist to address the ICO concerns of people in the crypto community. Established earlier this year, we are expecting to launch various crowdfunding tools and algorithms, including our unique ICO Wallet, to ensure investor protection and maintain decentralization.
We are a unique platform designed to host secure ICOs, wherein investors will have control over their investments and developers will be spurred to create quality decentralized applications (DApps).
Our developers are working toward our plans, and we expect to roll out our updates in 2020. We will reveal more regarding our progress in the coming months.
We’re only a month and a half away from saying goodbye to 2019. A lot of things happened this year in the crypto sphere alone, and we are excited for whatever is in store for us in 2020. We thank you for the support, and we hope that our community will become bigger once we are ready to serve you with our platform.
What are other crypto trends that you hope to become popular in 2020? Write to them in the comment section. Click on the “👏” button on the left side of the screen. Put those hands together as many times as you like. Also, follow our social media accounts to get the latest information from us.