Institutional money is giving strength to major cryptos, particularly Bitcoin (BTC) and Ethereum. Major investors are looking at derivative products and more market regulation. Chainlink and Komodo are two minor Altcoins which have performed very well and that are worth paying attention to. Litecoin is pressing for mass adoption as a way to maintain its fourth position as total market capitalization.
Cryptocurrencies & Markets
Mark Mobius is an emerging market fund manager, as well as the founder of Mobius Capital Partners. He has never been a Bitcoin believer but just stated that, if the value continues to grow at the current rate, he would consider investing in it. It is another example of an increase of interest in traditional investors. Bitcoin is not seen anymore as a rogue currency. Regulated exchanges and trading platforms employ sophisticated technologies to prevent terrorist financing and money laundering. Large-scale investment firms and high-profile investors like Mobius want strictly regulated, transparent, and government-approved investment products.
Examples in this direction are the Grayscale’s Bitcoin Investment Trust (GBTC), and the Ethereum Investment Trust (ETHE). Both have seen substantial gains since the beginning of the year.
Ethereum (ETH) is a virtual currency with the second largest market capitalization. Talks of a futures product based on Ethereum have been going around for a while. Now the Chicago-based CME Group is preparing to do it. It is the same institution that launched Bitcoin futures during the cryptocurrency boom in 2017. The idea of Ethereum futures is gaining support from various major cryptocurrency users.
Over the past 30 days Chainlink (LINK) has been among the best performing Altcoins and has outperformed Ethereum Classic (ETC) handsomely. It also enjoyed significant volumes last week, with a trading volume of more than $190 million on July 5.
Komodo is a privacy coin that enables fungible transactions. It has risen from $0.61 in January 2019 to $1.55 in the last few days. Komodo is not stopping anytime soon.
Litecoin Insider John Kim Maps Road to Crypto Adoption, Delivers Word of Caution to Industry LeadersThe Daily Hodl
John Kim from the Litecoin Foundation believes on focusing on mainstream adoption and building strategic relationships. The recent Litecoin integration on SPEDN, an app to store, manage and spend LTC and several other digital assets, offers cryptocurrency as a payment option to millions of shoppers at thousands of stores across the US.