The future of cryptocurrency has often been discussed through a skeptical lens. Will the newly founded digital assets find a way through the fog or will they one day be a piece of history? A slice of time that the collection reminisces on and forgets entirely, perhaps. Or could they be as magnanimous as they first intended, and change the face of money forever as we currently know it? The results could veer in either direction. While there are thousands of cryptocurrencies out there, only a handful are truly viable. Yet, that hasn’t deterred hundreds of millions in their masses from dipping a toe in the water. It is safer to assume that there will be some sort of future agenda for the crypto market, and here are the reasons why.
Top Currencies Always Come Back Strong
Take a look at this price index of Ethereum at OKX. What it represents is that Ether, the number two cryptocurrency currently circulating, is climbing back up after a recent crash. These assets rise and fall just like any other tradable thing. The difference to take notice of is that when they crash, everything goes up in the air and the whole purpose of the currency is called into question. Will it survive? Well, Ether is fighting back and pushing hard and still gaining interest despite the volatility. This suggests that, yes, if things stay as they are, they will continue to enjoy growth and interest from consumers, traders, and even the world of business.
There is Interest in the World
It is difficult to determine exactly how many cryptocurrency users there are in the world. However, over 100 million people own bitcoin; over 3 million people engage with the Ethereum network, which allows access to cryptocurrency Ether; and nearly 20,000 businesses are opening their doors to crypto transactions. These figures suggest that there is interest on a global scale for this medium. With such a massive intake, the projected growth can only ever be exponential.
Emerging Developments with Commercial Channels
When crypto first emerged, it was seen as a terrible idea for businesses to invest in it. However, this has undeniably shifted and now, more and more companies are taking the leap and engaging with crypto channels in order to meet customer demand. Not only are there reliable transactional methods to be taken advantage of thanks largely to the transparency of the blockchain functions, but there is also support for meeting the new generation of B2C on their turf. Businesses and crypto will continue to make positive movements toward one another to meet demand, innovate their marketing strategies, and respond to the path of the future.
Those In Charge Are Taking Note
What was once dismissed as a fantasy, is now being discussed in legislative conversations. Governments in multiple countries discuss how to regulate and observe crypto trends, which only proves further that they are worth the discussion and will not, in fact, be going anywhere anytime soon. Some places have even acknowledged bitcoin as a legal tender for general circulation, like El Salvador.
Therefore, with all the facts at hand, it seems like cryptocurrencies are not going anywhere except here.