Top 4 Cryptocurrency Trends That You Will See in 2020

[EvelynKing]

The beginning of 2020 brought happy news for crypto enthusiasts and investors, as the market started showing signs of recovery from last year’s price fall. 2019 had not been a very good year for cryptocurrencies as the combined market cap dropped drastically to $100 billion from the previous year’s $830 billion.

In 2020, we will see many new changes in the crypto world. Big institutions are very much likely to start showing their interest in this market. Here’s all you can expect to witness in cryptocurrencies this year.

Institutions exploring the market


From the very beginning of the year, big institutions have started exploring opportunities in the crypto space. However, you should not expect these institutions to buy bitcoins at its current high price. As usual, they will buy when the price of the lowest.

Now, suppose what will happen when the biggest financial institutions like Fidelity and Schwab decide to join the crypto revolution. The existing number of bitcoin wallets which is limited to just a few million will boost to many more millions, if not billions.

There are also talks that Intercontinental Exchange is going to launch its global digital asset platform this year. With that, many other stock exchanges will also start providing crypto trading related services.

Digital currencies will become mainstream


With new, innovative cryptocurrencies like Titan coin hitting the floor, it is very much possible that we might see a shift in how people perceive digital currencies. The new cryptocurrencies are presenting actual use cases, where these currencies can be used by real people in the real world, and not just as a means for transferring or trading.

Titan coin, for instance, presents its use cases in the form of a number of apps, called titan projects, which will encourage people to use these coins for making secure and fast payments globally.

Growth of STO (Security Tokens)


With the user’s increasing trust in ICOs (Initial coin offering) and increasing demand for regulation norms for cryptocurrencies, both institutions and startups are choosing security tokens as their default form of cryptocurrencies.

But that doesn’t mean that utility tokens are becoming out of date. In fact, companies are now trying to find a way by which utilities and securities can be combined to create a cryptocurrency that people can trust. Nevertheless, do not be surprised if you see a surge in the number of STOs as compared to ICOs this year.

Security tokens essentially represent a share in the owner company, which makes it easy to trust.

Stable coins


Even though cryptocurrencies are supposed to be volatile in nature, Stable coins are cryptocurrencies that may have a stable value. How’s that possible? It’s actually simple.

Cryptocurrencies do not have their own value. This is why a new type of crypto was created which gets its value from a stable, physical asset such as property or gold. It means these cryptocurrencies will have actual value. But unlike traditional currencies, these will be global and not controlled by any single entity like a central bank.

2020 is going to be a big year for cryptocurrencies. The best we can do for now is to wait and see where and when the market takes its next shift. And yes, hope for the best.