Crypto’s New Horizon: Institutional Waves and a Project Poised for Prosperity

Have you been scratching your head, trying to figure out why the crypto market is pumping right now? If you’re into crypto YouTube channels, you’ve probably picked up on part of the reason. There’s a whole lot of FOMO — fear of missing out — happening right now! The big news is that BlackRock has filed for an ETF, and it’s causing quite a stir. It appears as though they’ve kick-started the race, and now other institutional players are following suit, making their respective strides in the market.

Have you heard about Deutsche Bank making headlines in the crypto world? They seem to be making strides in embracing digital assets. As early as February 2021, they started exploring the idea of offering cryptocurrency custody services to their clients. And now, fast-forward to June 2023, they’ve submitted an application for a license to run a digital asset custody service in Germany.

It’s fascinating to see such a traditional financial institutions warming up to the world of crypto. This shift could really help to bring legitimacy to the crypto market, potentially making it more attractive and accessible to institutional investors. This means an influx of dollars… and for those of us that are still around and/or contemplating getting in, this is truly hopeful news.

But they’re not stopping at custody services. Last year, in 2022, Deutsche Bank partnered with Galaxy Digital to launch a digital asset trading desk. They’re even flirting with the idea of issuing their very own cryptocurrency.

Now, it’s still early days for Deutsche Bank’s journey into the crypto world, but their exploration of this space is a clear signal that they’re treating digital assets seriously. And if they pull it off, they could be key in ushering crypto into the mainstream financial system.

Let’s consider why Deutsche Bank might be so interested in crypto:

Crypto Market Growth: The crypto market has seen explosive growth, now valued in the trillions of dollars. It’s no surprise that traditional financial institutions are taking note and wanting a piece of the action.

Institutional Investment Potential: There’s a lot of money in the hands of institutional investors like pension funds and hedge funds. If these entities dive into crypto, they could significantly drive up cryptocurrency prices.

New Product and Service Opportunities: Crypto paves the way for innovative financial products and services, such as decentralized finance (DeFi) and non-fungible tokens (NFTs). These offerings could attract a diverse range of investors.

In a nutshell, Deutsche Bank dipping its toes into crypto is a good sign for the digital asset class. It underscores that traditional financial institutions are taking crypto seriously, and this could further legitimize the market and open the door to even more institutional investors.

However, the big headline that’s making waves in the west is the partnership between BlackRock and Coinbase and their recent filing for a Bitcoin ETF. As I predicted in my piece yesterday, this move is causing a ripple effect and other cryptocurrencies are experiencing a boost because of it. If you’ve not yet had a chance to read that article, I highly recommend you give it a look — I’ve linked it below.

What we’re seeing today is a notable surge in the market, a trend that’s directly tied to the influx of institutional activities we’ve been observing. Is this the early stages of the much-anticipated bull market that we, the long-time crypto enthusiasts, have been eagerly awaiting? I can’t say for certain, but I’m optimistic that it’s on the horizon.

Just because there’s a surge happening right now, it doesn’t mean you’ve missed your chance. There’s still ample opportunity to choose the right cryptocurrencies before we start witnessing the exponential growth that’s the hallmark of a bull market rally. In my analysis, I’ve highlighted a specific narrative and group of coins that I believe are poised for significant growth if the Bitcoin ETF gets the green light from the SEC.

In fact, I’ve already brought one of these promising cryptocurrencies to the forefront in my article, ‘The Unstoppable Blockchain: Why Investors Can’t Ignore This Crypto Powerhouse (& Neither Should You).’ If you’re interested in understanding my perspective on this project further, I’d encourage you to check it out”. https://medium.com/coinmonks/the-unstoppable-blockchain-why-investors-cant-ignore-this-crypto-powerhouse-neither-should-ac4702b67d71

But right now, let’s dive into another project I believe will do well if the Bitcoin ETF is approved. The project is NEAR Protocol. Part of my perspective includes the notion that projects that continue to build during the bear market will blossom during the bull market; NEAR is one of those projects!

Near Protocol steps into the spotlight as a promising decentralized application (dApp) platform, and don’t overlook it as a potential rival to Ethereum. Its design is crafted with both developers and users in mind, making it a breeze to navigate. Its native currency, NEAR tokens, handles transaction fees and storage on the Near crypto platform, simplifying the overall experience.

As a layer 1 blockchain network, Near Protocol offers a sturdy foundation for developers to build robust decentralized applications or dapps. Ethereum, the most successful layer 1 blockchain out there, might have to watch its back with emerging players like Near Protocol entering the scene.

Scalability is one of Near Protocol’s strong suits. Thanks to an approach called sharding, the network can be split into smaller, manageable parts, each processing transactions independently. This means it can accommodate more transactions without getting bogged down — think of it like adding extra lanes to a highway.

In terms of user-friendliness, Near Protocol has the upper hand over Ethereum. It employs a programming language known as Rust, which is seen as more welcoming to beginners than Ethereum’s Solidity. And with a built-in wallet, users can securely store and manage their NEAR tokens without breaking a sweat.

Even though Near Protocol is relatively new to the game, it’s showing great potential to become a significant contender in the dApp space. It’s packed with features that appeal to developers and users alike, and is backed by a strong, dedicated team of developers and investors.

With an impressive total of $533.7 million raised through eight funding rounds, Near Protocol has attracted some of the biggest names in venture capitalism (June 2, 2023: NEAR Protocol announced that it has raised $150 million in Series B funding.). Among its prominent investors, we find Andreessen Horowitz, also known as a16z. This firm is no stranger to backing successful tech companies, having invested in household names like Facebook, Twitter, and Airbnb.

Meanwhile, Pantera Capital, with its specialty in blockchain technology investments, has also thrown its weight behind Near Protocol. The same goes for Libertus Capital and Animal Ventures, both firms known for their keen eye on early-stage tech companies.

Electric Capital, Distributed Global, and Blockchange Ventures have also shown their confidence in Near Protocol. These three firms share a common focus on blockchain technology investments, making Near Protocol a fitting addition to their portfolios.

Besides these heavy hitters, Near Protocol has also secured funding from other investors, including Coinbase Ventures, Binance Labs, and Tiger Global Management. These partnerships and financial support speak volumes about Near Protocol’s potential in the crypto world.

Now remember, I mentioned earlier about projects that build during the bear market? Well last year, at Nearcon 2022, thousands of people attended. The NEARCON 2022 conference offered a captivating discussion about the potential of NEAR Token to overtake Ethereum. The conversation revolved around NEAR’s functional base layer, its appeal to JavaScript developers, the focus on simplicity and usability for mass adoption, and the expansion of the NEAR ecosystem with diverse projects. Some of these projects include Orderly, Woo DEX, and NEAR Pay, all building on NEAR’s infrastructure. What’s more, NEAR is being seen as a promising platform for developers from Ethereum and other blockchains. All things considered, it seems NEAR is on a trajectory to make some serious waves in the crypto world.

Hear me on this, the building and growth is not secluded to last year. They are constantly making progress… For example, NEAR Protocol had quite the bustling summer in 2023, starting with an exciting announcement on June 9. They revealed a partnership with Alchemy, a blockchain infrastructure provider. This collaboration is aimed at equipping developers with Alchemy’s robust tools and services, making the task of building and deploying dapps on the NEAR platform much smoother.

The good news didn’t stop there. On June 14, NEAR Protocol launched a new grant program. This initiative is designed to support those developers who are innovating on the NEAR platform, building user-friendly dapps that have the potential to make a positive impact on the world.

And to top it all off, on June 15, NEAR Protocol announced a partnership with the decentralized finance platform, Ref Finance. This team-up is focused on providing liquidity for the NEAR token, simplifying the process for users who want to swap NEAR tokens for other cryptocurrencies on the Ref Finance platform. All these developments highlight NEAR Protocol’s commitment to fostering an innovative and dynamic ecosystem.

If you’re interested in decentralized applications, you should definitely keep Near Protocol on your radar. It’s shaping up to be a significant player in the dApp world, potentially offering a more user-friendly and scalable alternative to Ethereum. In line with my thesis, NEAR is listed on Coinbase and could receive a substantial boost from the trickle-down effect of a BlackRock Bitcoin ETF!

Here is my assertion on what and why some projects will benefit from the BlackRock Bitcoin ETF: https://medium.com/coinmonks/leveraging-the-blackrock-coinbase-partnership-for-profitable-crypto-investments-a32b04d5285c

You can dollar-cost average into the best cryptos on Kucoin (my favorite exchange)! Here is the link:
https://www.kucoin.com/r/af/2KsRxuN

My blah blah blah disclaimer: I am not a financial advisor and cannot provide investment advice. Cryptocurrencies and investing in general involve risk, and individuals should conduct their own research and consider their personal financial situation before making any investment decisions.

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