The cryptocurrency world has suffered massive hits over the past few months, with several events culminating in advancing the volatility of the crypto trade.
The significant virtual coins are now considered to be languishing in the red as prices take a steep nosedive.
The current crypto analytical tools indicate that Tether (USDT) is the only coin that lingers in the green when compared to the fate of the world’s Top 30 crypto assets.
Tether has an impressive market cap so far from the first month of 2018. This aspect is real even though the coin cannot be understood from the movement/implications standpoint.
Volatility in the crypto trade goes a long way in influencing the economic factors that determine the integrity of virtual coins. Price fluctuations prompt investors to shift their goals and take up cheaper options of cryptocurrencies. This move is usually chosen as an anticipatory measure to deal with an imminent market turnaround.
We can all agree that a crypto market turnaround would have been a welcome phenomenon in the first few weeks of 2018 but the mid-January price lows shed some light on the whole crypto market situation. Long-term market dynamics, which include a reversal in trade momentum, will normalize the industry and manipulate investor behaviors.
Ideally, the most important question asked by investors and crypto enthusiasts is about the best crypto assets to invest in the New Year. In this context, Monero (XMR) and Ethereum (ETH) do take the cake—they are your best bets.
In recent rankings, Monero attracts a price that is a bit over the $293 mark. This cryptocurrency rules a market cap of about $4 billion US Dollars. The coin’s January 7 performance was considered to be a significant high, which is interpreted as good news for the virtual money.
Monero’s strides in adoption and price actions exemplify that of a cryptocurrency destined for economic success. The virtual coin’s value has steadily advanced to become a gold standard privacy coin in the crypto trade.
This aspect stems from the fact that it has achieved significant traction on its suitability for transactions happening in the darknet markets. While this reality may be considered negatively by market analysts and affect the coin’s upside revaluation, Monero can take pride in its achievements so far.
The past several weeks have seen Monero’s chief architects lobbying for the mass adoption of the virtual coin by investors across the global divide. The crypto circuit has been shaken by talks concerning the expectation that Monero is going to be the next massive phenomenon in the economic circles.
Riccardo Spagni, one of Monero’s faces, has established deep ties with Litecoin’s Charlie Lee as the brewing story of a possible cryptocurrency merger between the two coins. These examples highlight the bold steps that Monero has taken since its inception, and the expected implications attributed to its past and present achievements.
The fact that Monero’s features are relevant to the needs of the 2018 market proves that it is the cryptocurrency to look out for this year. The coin’s fungibility and adoption explicate this aspect accordingly. Monero offers a significant level of privacy and fungibility to users.
In this taste, fungibility denotes the element in which a singular system of money can be substituted for another currency. This can also be broken down to mean that each Monero coin possesses equal value.
An understanding of how blockchain and crypto assets operate goes a long way in reinforcing the premise that Monero is ideal for this crypto age. The transaction histories for Bitcoin units are usually preserved in the blockchain. This means that coins related to illicit activities, like the drug trade, would be eluded by investors and crypto exchanges.
On the other hand, Monero does not suffer this shortcoming because it is mostly untraceable. In this front, all coins are typically equal and indistinguishable to merchants. Bitcoin’s lack of this degree of fungibility means that a cryptocurrency merchant may reject a unit of one of the traded Bitcoins, owing to its soiled transaction history.
It is for this reason that Monero has been registering a steady advancement in market adoption since the coin’s inception. Popular dark web marketplaces such as the former AlphaBay have been seen to embrace the Monero frenzy in the past year. This decision follows the darknet market demand for Monero as the ultimate virtual coin that boasts revolutionary security and privacy features.
Monero’s market characteristics is also another feature that makes it one of the ideal cryptocurrencies of 2018. This coin’s market is relatable to that of any other favorite virtual currencies in this era.
This concerns the operations that typify cryptocurrency exchange and the application of the virtual coin in transactions made by merchants. Potential investors that are interested in Monero can buy the coin from exchanges such as Bitfinex, among others.
Monero was first traded by Poloniex, which provided eight listings of cryptocurrency pairs in 2014. Bitfinex, which is a significant figure in the Bitcoin exchange market, adopted Monero as early as the year 2016. The exchange offered provisions for the deposit and withdrawal of Monero units via the XMR/USD and XMR/BTC cryptocurrency pairs.
The year 2017 saw the adoption of Monero by another cryptocurrency exchange, Kraken, which was known to acknowledge the economic merits borne by the revolutionary virtual coin. Despite the various improved protocols involved in the trading of Monero, the coin still allows people to mine blocks.
Interested persons may either register themselves in mining pools or mine the virtual coin privately. The requirements for Monero mining are naturally simple. All you have to possess is a functional computer as opposed to the sophisticated hardware devices needed to mine bitcoin.
Monero employs a Proof-of-Work (PoW) algorithm that has allowed cryptocurrency enthusiasts to explore its wide range of processes without the need of joining cumbersome mining pools.
Ethereum is another cryptocurrency of choice for this year. This virtual currency has managed to exhibit significant levels of economic resilience in a somewhat tumultuous trade environment. While the crypto industry has experienced hard times, Ethereum’s platform features elements that are critical in the culmination of long-term growth for the coin.
This factor stems from vital differences in utility registered between the Ethereum and other popular coins such as, say, Bitcoin. Ethereum fundamentally serves a utility function rather than being a coin of value transfer (otherwise labeled as a transaction coin).
Despite this phenomenon, sector-wide speculations may not provoke significant changes in market capitalization as compared to other forms of virtual money. While this analysis bears objective truth, Ethereum is nonetheless automatically cushioned from the radical developments that commonly typify the crypto markets.
However, Ethereum stands a good chance of mitigating the magnitude of substantial risks that are commonly encountered in the crypto trade.
Comprehension of Ethereum’s positive attributes are important in arguing for the virtual coin’s superior suitability for 2018. Ethereum’s provision of the proof-of-stake roadmap will revolutionize the mechanisms of trading in the virtual coin. The start of 2018 saw the introduction of the new protocol that is expected to be implemented this year.
According to this framework, the bearers of cryptocurrency units will have the ability to verify transactions via participation. This concept will see the achievement of important rewards by the holders, even though the monetary details of such returns have not been clarified. What we already know is that the benefits will probably not fall below the five percent mark.
The protocol will expectedly advance the appeal of Ethereum to investors and crypto enthusiasts that are out to earn dividends from assets. This will create an avalanche of events that will skyrocket the market adoption dynamics of Ethereum and contribute to the virtual coin’s success by the end of 2018.
Analysts also predict that the market limit of Ether will substantially surpass that of Bitcoin. This occurrence has been christened as “flippening,” a term coined to denote the expected future phenomenon where Ethereum will overshadow Bitcoin to become the world’s most valuable cryptocurrency. This possible event has elicited a lot of debate on the Ethereum-Bitcoin rivalry that has led to the creation of discussion platforms and a site called Flippening Watch.
If the prediction comes to pass, Ether will enjoy monumental degrees of market adoption as the conventional medium of economic payment. It is, however, agreeable that crypto information has not sufficiently spread to all corners of the globe. Relatively few populations are well educated on the fundamental basics of the institution of virtual money in modern economic systems.
Some people barely understand the primary occurrence of virtual coins, even with the significant media coverage of the world’s most popular cryptocurrencies.
The existence of organizations of the Enterprise Ethereum Alliance (EEA) is another strong point for this cryptocurrency. This entity links some of the most prolific Fortune 500 companies with Ethereum masterminds. Prominent members of this association include Microsoft, Intel and firms like JP Morgan.
The mandate of the EEA is to employ the Ethereum blockchain to provide credible solutions for organizational issues. Innovative applications are usually generated regularly. The Alliance has made significant achievements over the past several months, and this occurrence is said to be of crucial importance to the integrity of the crypto trade.
As mentioned earlier in this article, Ethereum is fundamentally a function of utility, and this premise reinforces the fact that more organizations will continue to adopt Ethereum as a ledger standard this 2018.
Going forward, both Monero and Ethereum markets will be subjected to the forces of demand and supply.
With the current increase in investor sentiment that favors Ethereum and the increase in popularity of Monero on the dark web, the future is bright. Investors will forever be forced to ride on speculations concerning the cryptocurrencies’ future market capitalization with the intention of realizing satisfactory returns.
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