To many people, the kaleidoscope of the crypto-space looks topsy-turvy at the moment. The current market situations have made many to wonder what exactly is going on.
For openers, Bitcoin is on course for a major correction. This is driven by investors’ confidence and greed. Bitcoin prices have been held back for way too long.
Despite the fact that the halving event happened without the imminent rally everyone anticipated, we are still going to see extremely bullish situations concerning the world’s first cryptocurrency even though the Bitcoin market is no longer a leading type as it’s currently faltering.
The Altcoins are on a different kind of wave at the moment. We may be seeing the rise of the Ethereum ecosystem (finally) as ETH is going to break some boundaries.
On the flip side, the lack of implementation of ETH 2.0 has caused some form of uncertainty for institutional investors. They need the ETH 2.0 tech to work first before making a big splash like they always do.
Ethereum will always be slackened by general apprehension as far as stablecoins are concerned. The ERC-20 stationary tokens have provided some stability into the crypto-space, helping in volatility management. An increasing issuance of more stablecoins is on the horizon, that’s for sure.
EOS is having confidence issues but could put up a fight with ETH, but this depends on how its ecosystem evolves to broader use cases.
The rest of the Altcoins still have some way to go for now. Projects such as XRP, BCH are having real use-case scenarios. Their price differentials indicate uncertainty and could also have break-out phases.
Cross-chain solutions such as Chainlink and its many oracles have worked wonders in building the first open finance frameworks. We are seeing the future invested right before our eyes. The road to adoption is a long one though. (That is, given the recent flash loan attacks and more).
Generally speaking, it is a great time to be in the crypto-space!
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