The popularity of bitcoin is ever rising. Despite the backlash of different governments across the world, cryptocurrency continues to find admirers. Watching bitcoin news can provide you with the information where the cryptocurrency is heading. In this post, we look at the latest industry trends related to cryptocurrencies.
Crypto Is Not Only for Geeks
A few years ago, crypto was a geeky word, and many people thought crypto is out of their reach. BTC’s market capitalization is higher than the world’s biggest brands, like Intel and Coca-Cola. The demand for institutional crypto is rising amid pandemic.
The Bitcoin value has soared in recent years, and it is expected to continue. Facebook is launching the Libra project, which is permissioned blockchain digital currency. This will strengthen the bitcoin position as the cryptocurrency will reach the masses.
Decentralized Financing Is Getting Popular
Since late 2019, decentralized financing is gaining popularity. The sector is growing rapidly. In the last six months, a new milestone has been created by the sector. The total value locked in decentralized financing is around $4 billion. Several leading companies operating in the blockchain field have announced their decentralized financing products.
Some of the protocols worth mentioning are Curve, Balancer, Compound, and many more. These platforms have opened doors of opportunities for investors looking for deep liquidity and varying reward-risk ratios.
Shifting Towards Cashless Society
The Covid-19 pandemic has brought the world to a halt. The world does not seem safe anymore, and we are forced to remain confined in our homes. The pandemic has paralyzed many industries, and there are few chances they will raise again. Due to the current situations, people have been rethinking the way we live.
The bitcoin news has a special mention of remote work and crypto payments gaining significant importance. This is not going to change when the pandemic is over, and things go back to normal. Some changes are here to stay, and so is the bitcoin. It is not going anywhere soon.
Blockchain technology, as the foundation of cryptocurrency, has blossomed and found many uses. Even the most diehard critics are accepting it is not wise to ignore such good technical marvel. As distributed ledger technology becomes more popular, you will see people buying crypto-assets with a credit card, and demand for stable bitcoin wallets will eventually rise.
The Concept of CDBCs Is Born
There are several concepts related to the Central Bank for Digital Currency(CBDC) which is projected as a form of central bank money. It is seen as central bank liability, expressed in the store of value and medium of exchange. It would be interesting to see the launch of the digital Yuan (Chinese currency) and how it affects the crypto world. It can be an inspiring example for other countries to follow suit.
Blockchain Technology for Enhanced Privacy
Despite the advancement of technologies, the services you access through the internet are fragile and under-protected. Many social media platforms have been hacked in recent years that are an eye-opener. Blockchain technology shows a promise of enhanced privacy and providing the best protection to your digital assets.
These are some of the latest trends that you can learn from bitcoin news. It only shows bitcoin is here to stay, and the day might not be far when governments and leading multinationals vouch by this technology.