Cryptocurrencies are growing at an increasingly fast rate with traders across the globe drawn to crypto markets by the exciting prospects of the technology. Bitcoin is the most expensive virtual currency currently, valued at $6,388.99 per unit, according to Statista.com, and Litecoin is helping to lead the way too. While cryptocurrency had somewhat of a nerdy stigma, that’s all changing as it becomes accepted in more and more places from Charleston coffee shops to artisan food stores and hipster fashion retailers in San Francisco.
Just about every expert predicts that cryptocurrency is only going to continue to become more popular, what are some of the other crypto trends to watch for in the coming year?
Blockchain Implementations Will Grow Significantly
Blockchain spending by organizations have been slower than expected this year but that’s been predicted to change in 2019. PricewaterhouseCoopers, a company that works with many of the world’s biggest businesses, recently reported that many of its customers are spending a ton on blockchain initiatives and that that spending will continue to grow. The demand for blockchain advisory services has been as high as $1.7 billion.
Ripple May Be the New Bitcoin
For institutional investors, the highest level of confidence among cryptocurrency is expected to be Ripple in 2019, followed by Bitcoin, Ethereum and Stellar Lumens. Financial expert Douglas Borthwick who frequently contributes to Bloomberg and CNBC, says he believes that many fiat currencies will be paired with Ripple as the dollar requires a two-day settlement. On the other hand, the settlement for Ripple is immediate. He also notes that Ripple will see massive growth value due to the sheer size of global markets and this real-world application. He even went as far as saying that there is zero competition for Ripple as it can be settled in only seconds.
Ripple is the only enterprise blockchain solution in the world, a unique cryptocurrency that facilitates global payments, digital asset exchanges, connect banks and payment providers. It’s also the most affordable mainstream cryptocurrency, with the simplest and most accessible transaction system.
More adoption of security tokens
The utility token is a token that represents shared ownership of a digital resource. Computing power, processing power and file-storage capacity are all examples of digital commodities that can be purchased and sold on a decentralized marketplace due to their discovery. They contribute 31% of the crypto market as a whole. Unlike utility tokens, security tokens represent ownership in a real-world asset: debt, equity or even real estate. Experts say there is quite a bit of forward momentum around tokenized securities, so much so that many believe they’ll soon become a common part of Wall Street parlance.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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