So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.
The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.
1. The rise of IEOs
Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.
In 2019, however, IEOs (Initial Exchange Offerings) started attracting the attention, particularly thanks to Binance and its Launchpad. The platform returned with BitTorrent (BTT) token launch, which was one of the most successful token sales in history. Soon enough, pretty much every big exchange out there launched its own coin launcher, and IEOs were born. The main difference between IEO and ICO is that IEO is controlled by an exchange, who researches and picks the projects to support. This allows investors a certain dose of security, as long as they trust their chosen exchange.
Also, IEOs are sold only to the exchange’s customers, and the new tokens can typically only be obtained in exchange for the exchange’s native coin. This is a much safer way of buying and selling new cryptos, and the rest of 2019 might as well allow IEOs to become as popular as ICOs did two years ago.
2. Bitcoin Exchange Traded Funds
We cannot talk about hopes for the crypto space without mentioning Bitcoin ETFs, which are still to be approved by the US SEC. The regulator was supposed to bring the decision about ETFs multiple times in 2018, but they constantly rejected each and every application until VanEck and SolidX submitted their own.
While the SEC did not flat out reject it, they did delay the decision time and time again. Then, the US government shutdown kicked in, preventing the SEC from doing its job, and forcing VanEck and SolidX to withdraw their proposal, and prevent the remaining SEC members from rejecting it, simply to prevent it from passing.
While there are no hints that Bitcoin ETFs will arrive in 2019, many expect this to be the year of their approval. With so much hype and excitement, Bitcoin price is known to react strongly to any news in this area, but the final decision, as always, depends on the regulators.
DeFi, or Decentralized Finance, is yet another thing that is expected to go big in 2019 and allow the crypto space to start developing much faster. The term is not easy to describe, as it involves multiple aspects of crypto and blockchain industries. It includes things like crypto exchanges, various financial tools, stablecoins, dApps, the Lightning Network, and much, much more.
In a way, it is a collection of seemingly separate ecosystems that work together and contribute to the development of an entire, digital, decentralized version of the financial industry.
One of the good examples of major factors within it is Maker DAO, which allows the creation of Dai in exchange for ETH coin that is stored within smart contracts as collateral. At the time of writing, Maker Dao is holding nearly $370 million in ETH.
Then, there is Bitcoin’s Lightning Network which is expected to go live this year and revolutionize BTC transactions and improve the network’s scalability. Many other projects with a seemingly random purpose are being developed out there, and all of them have their own place in a puzzle that is crypto industry. With each of them reaching completion, the puzzle is getting more and more solved, and the picture is becoming clearer. With that in mind, we are looking forward to new developments in Q2 2019.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or 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.
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…