If you put Reasons #2 and #3 together, you see that the demand for Ether is increasing due to DeFi as collateral in the MakerDao ecosystem, while the new supply of ETH from miners is reducing permanently from 3 to 2 ETH per block.
Remember that for every $1 of Dai created, $1.50 of ETH needs to be collateralized. As the demand for Dai increases, the demand for ETH increases even more. And at a time when the issuance of new ETH from miners is decreasing. What do the economics majors among you say about this situation’s potential effect on the price of ETH?
Crypto Rand, whom I trust as one of the best traders in the game, has called this as a major trend reversal for . Several technical indicators mentioned above confirm this. is still the largest by market cap, and the whole crypto market still follows where it goes. Seeing break out of a long bear trend on high volume is a very positive sign.
Couple this with many bullish coming out in the mainstream press, and it only gets better.
Reason #5: Sentiment in Mainstream Media has Turned
The Nasdaq of a curated price feed for and is big. Very big. One of the reasons why there isn’t more institutional is the lack of an “official” price feed that institutions feel is free from manipulation. Do you really honestly think that a Goldman Sachs is going to use Coin Gecko or some similar service to get its price feeds? Look to see a significant uptick in institutional in and with this addition.
And of course, there’s the JP Morgan . Yes, Jaime Diamond, after calling a “scam”, is now making his own cryptocoin.
Oh how the tables have turned.
Time will tell whether or not JPM Coin will be a success or a failure, but one thing is for sure: it signals that the biggest institutions in the world are taking and crypto seriously, and shall also BUIDL.
Research shows that JPM Coin will be a stablecoin, and will run on Quorum, a private permissioned fork of . In order for JPM Coin to be used outside of JP Morgan’s permissioned (like in interbank settlement, or on secondary markets and exchanges) JPM Coin will likely have to interact with public .
The Samsung News is also quite interesting. The S10 will likely be an iPhone competitor, and no doubt will sell hundreds of thousands of phones, perhaps millions, all of which will have an pre-installed. There’s one word for that, and it starts with an “A”.
!
All in all, those are our reasons why #CryptoSpring is most likely here.
Do you have other reasons? Disagree? Put up a comment below!
Also, please join us at:
https://t.me/betprotocol
Thanks for reading!
Published at Tue, 19 Feb 2019 17:14:51 +0000
