According to statistics from Token Terminal, monthly stablecoin transfer volumes have multiplied ten times over the past four years, increasing from 0 billion to trillion per month. Data Highlights Explosive Growth in Monthly Stablecoin Transfers In recent years, stablecoin assets have gained significant importance. On June 20, 2024, the market capitalization of all stablecoins […]
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Ethereum Researcher Ethereum to Reduce Issuance Ten-Fold by 2021
n Justin Drake, an Ethereum 2.0 researcher at the Ethereum Foundation, said that ETH issuance might see a 90 reductionn
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IDC Forecasts Tenfold Increase in U.S. Govt Blockchain Spending by 2022
The post IDC Forecasts Tenfold Increase in U.S. Govt Blockchain Spending by 2022 appeared first on DCEBrief.
Japanese Authorities: Tenfold Increase in Crypto Money Laundering Reports in 2018
The post Japanese Authorities: Tenfold Increase in Crypto Money Laundering Reports in 2018 appeared first on DCEBrief.
Pantera Exec: Crypto Market Close to Bottom, Tenfold Increase Possible With Scalability
As Q4 of 2018 dawns on the infant crypto and blockchain world, many outspoken advocates for this industry have done their best to reaffirm that the cryptocurrency values will reverse without a doubt.
“Crypto Is Close To The Bottom At This Point”
When it comes to industry veterans, Joey Krug, an Augur co-founder turned crypto investor extraordinaire, is arguably one of the most qualified individuals to speak on the current state of the cryptocurrency market — from both fundamental and technological viewpoints.
And as such, Bloomberg took some time to catch Krug at the media outlet’s Sooner Than You Think Conference for an insight into how this burgeoning industry is performing. Opening Krug’s segment on-air, the hostess asked the question that has been on the mind of every crypto investor and their dog — “is the cryptocurrency market reaching a bottom?”
Responding to the query with hints of a vested interest, Krug, who is now San Francisco-based Pantera Capital’s co-chief investment officer (CIO), noted that if this market is on the cusp of establishing a bottom. While adding that crypto assets still remain range-bound, which is made evident when looking at Bitcoin’s relative inaction, the Pantera executive also mentioned that investors are ready to pounce on a positive catalyst at a moment’s notice.
Elaborating on his point, the innovator brought attention to not one, but two catalysts, which are scalable blockchain networks and easy-to-use fiat on-ramps.
The latter point is rather straightforward because as it stands right now, not only is it difficult to invest capital into crypto assets, but it is also relatively expensive. For one, fiat-supported crypto platforms, which aren’t even easy to navigate in the eyes of an average Joe, charge you an arm and a leg for the most simple of transactions.
Bringing up a specific example, the Pantera CIO called out Coinbase, claiming that the service charges “150 to 400 basis points” for wire transfer transactions, which are fees that may make many think back to traditional systems. Krug alluded to the fact that the relative cost-inefficiency may be a turn-off for prospective cryptocurrency investors, but, with the arrival of platforms such as Bakkt, the investor claimed that this issue may be solved in the “next six to nine months.” He added:
“Within the next year, [fees] will be down to 50 basis points from maybe not Coinbase, maybe some upstart, but with solutions like Bakkt and Fidelity Digital Asset Solutions going live, costs are going to be driven down.”
Joey Krug: Scalability Of Networks To Spark “10x” Crypto Bull Run
While the issues with modern cryptocurrency platforms shouldn’t be disregarded, the Augur co-founder went on to point out that a lack of scalability solutions are directly holding back crypto assets.
Although the cryptosphere just began to walk on its own two legs, Krug added that scaling blockchain networks, while difficult, is something that innovators within this industry can accomplish with a dab of elbow grease, grit, and determination. While he was hesitant to state that the Bitcoin mainchain, arguably the pinnacle of crypto evolution, will reach thousands of transactions per second, the industry insider noted that there will eventually be blockchain networks that can surpass today’s centralized fintech ecosystems.
Underlining the importance of scalability, Krug stated:
“If you look at the internet, it is easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But, here, these are all markets, so if you don’t have scalability, you don’t have market makers and so you don’t have liquidity.”
Maintaining this angle, the Pantera executive added that the proper scalability of current blockchain networks will drive the crypto market’s next round of exponential, jaw-dropping growth, which Krug says will boost digital assets values by 10 times. And, with the widespread adoption of the Lightning Network and the Liquid sidechain likely being just months away, there’s a chance that the diehard crypto investors of today won’t need to sit on their hands for too much longer.
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The post Pantera Exec: Crypto Market Close to Bottom, Tenfold Increase Possible With Scalability appeared first on NewsBTC.
Analysis: Crypto ATM Industry Will Grow Tenfold in Next Five Years
Many experienced cryptocurrency investors and traders classify crypto ATMs as a gimmick, as these machines charge exorbitant fees in comparison to digital fiat-to-crypto exchanges, like Coinbase, Bittrex or Bitstamp. But as decentralized technologies develop and more individuals seek to enter the cryptosphere, analysts predict that the value of the global crypto ATM market will skyrocket in correlation with surging demand for accessible fiat on-ramps.
From .3M In 2018 To 4.5M In 2023
In a report titled “Crypto ATM Market by Type… Global Forecast To 2023,” relayed by ResearchAndMarkets.com, analysts painted a very bright picture when it comes to the future of the crypto ATM sub-industry. According to the optimist analysts cited in the 94-page report, this specific market is forecast to grow from a value of .3 million in 2018 to 4.5 million in 2023, or a gain of nearly tenfold in the span of half a decade.
If this prediction comes to fruition, that would mean that this sub-industry would have expanded at a compound annual growth rate (CAGR) of a staggering 54.7% from 2018 to 2023. However, this was no baseless claim, as researchers highlighted a series of reasons as to why crypto ATMs could make a foray into the limelight in just a few years time.
The study first revealed that “growing fund transfers in developing countries” and “fluctuating monetary regulations” will be the primary catalysts in the eventual explosion of the crypto ATM market. The authors went on to outline that two-way ATMs or devices that allow users to buy crypto for fiat (and vice-versa) will take a leading role in the development of this sub-industry, as ATMs that host more than one use case will become an invaluable asset for investors.
Keeping this in mind, the researchers expect for the CAGR of two-way ATMs to outmatch the growth rate of one-way ATMs by 2023, as entrepreneurs seek to take advantage of the functionality and demand for the former variety of crypto ATM.
Last but not least, the study brought up the concept of “ATM printers,” which are expected to become a hot topic in the cryptosphere. As the report explains, instead of enlisting an automated process to send crypto to a designated wallet, ATM printers will distribute cryptocurrencies via public and private keys that will be printed on receipts. Although this may sound like an abstract innovation, the analysts revealed that ATM printers are expected to grow at the highest CAGR out of the other forms of crypto ATMs.
North America To Be A Leading Crypto ATM Market In 2023
As per data compiled by Coin ATM Radar, a leading source for crypto ATM information, there are 3,687 BATMs (Bitcoin Automated Teller Machines) in operation today, with North American countries claiming nearly 75% of those machines as their own. And the report claims that North American dominance over this market will continue, as a majority of ATM infrastructure firms exist within Canada and the U.S. already, which creates an environment in which BATMs can be installed with ease.
It was added that the relatively lax environment surrounding crypto assets will only aid the growth of North America’s crypto ATM market, as the Mexican, American and Canadian governments seem hesitant to stamp out crypto.
Although the crypto ATM market in the north-western hemisphere is set to boom, some fear that regulatory scrutiny and uncertainty will restrict the growth of BATMs in other countries. The study noted:
“Uncertain regulatory status of cryptocurrencies, and lack of awareness and technical understanding regarding cryptocurrencies restrict the market growth for crypto ATM manufacturers and operators. Further, concern regarding security and privacy is expected to pose a challenge to the market players.”
So it seems that all eyes are on regulators as always, as decisions made by regulatory bodies may determine the future of the cryptocurrency industry, and subsequently, the fate of crypto ATMs.
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The post Analysis: Crypto ATM Industry Will Grow Tenfold in Next Five Years appeared first on NewsBTC.
IBM Develops Preprocessing Block, Makes Machine Learning Faster Tenfold
n According to IBM Zurich mathematician Thomas Parnell, they have developed a generic solution to the AI learning process with 10 times 10x speedup.n
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