Market Podcast #2 by ICOGURU
ICO market still in stagnation phase and it is a great time for blockchain-based projects to rethink their current vision and concentrate on the product development neither than on fundaising process. ICOs continue to postpone/cancel or pause their sale. We expect that such long stagnation will clean the market and project owners will start to think about real added value of their product. Until that time, we offer you to analyze the market, find dependencies and develop the most suitable investment strategy.
Today, we have 2 postive news about wider adoption:
- Only 6 hours ago, Vertex Ventures announced their latest strategic investment into Binance exchange. The money will be used to support development of fiat-to-crypto exchange. Investments will be sent through the jointly set up legal entity - "Binance Singapore". Link to the announcement
Why do we consider it valuable?
Binance - is one of the biggest (the biggest, to be honest) cryptocurrency exchange with volumes exceeding $1 billion and each news or action made by them automaticaly became quite sensitive for the whole market. They are the first exchange, planning to make fiat-to-crypto exchange for masses (without entry barriers of $10k and so on). Moreover, creation of such exchange will bring more adoption to the blockchain space in future and, as usual: More participants - bigger market - wider opportunities!
- Bittrex has extended number of territories where people are able to deposit fiat money directly to exchange. There are 26 states in USA where you can make a fiat deposit nevertheless, there are several limitations and all of them are under this link
Why do we consider it valuable?
As we've mention above, direct fiat deposits is the thing which could gain extremely wide adoption of the cryptocurrencies. Still a lot of people are confused with the existing buying process of any crypto, but when it will be as simple as to send card2card transfer - a lot of people will prefer cheap money transfers using blockchain than traditional banking.
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Latest exchange listings:
- Binance will list Decred (DCR). It will be listed on the BNB and BTC markets. Deposits are already opened, but trading will start only on Oct. 24. Link to the announcement
- BitForex announced listing of the Path.Network, but no exact dates so far. Link to the announcement
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