Or is it all systems go
The value of the cryptocurrency market topped $2 trillion for the first time. Coins are seeing exponential growth, the Defi market cap has increased to a Total Market Cap: $82,329,920,419
Are we merely seeing a repeat of 2017/18 Bullrun only to see a crash similar to what came after that Bullrun, or are we witnessing the start of crypto going mainstream?
Presented below are a number of opinions from different members of our community.
Is this just another bull run? No this is all systems go! Now that is a bold statement is it not? One which has some merit but bold nevertheless. Do I think this is all systems go? In a sense yes and no but no one likes people sitting on the fence so I am going to go with a no.
While it is impossible to ignore the fact we are starting to see a shift in the sentiment around crypto with bigger individuals/corporations getting involved in the space, i.e Tesla accepting BTC payment, VISA/Paypal and more beginning to open up Bitcoin offerings, we are still not all systems go.
Why? You ask. Well for me it is simple, the future of crypto is not bitcoin, not by a long shot, it is the mechanism and the asset which has got its foot in the door of the big money hedge funds/corporations, but is De-fi which is going to blow those doors wide open.
Comparing the de-fi market cap to the bitcoin market cap shows you where there is still a long way to go, as of writing this, BTC’s market cap is: $1,106,201,118,911 whereas the WHOLE De-fi’s market cap is a minor: $101,762,896,781, I won’t bore you with the maths but you do not need to be a genius to see where I am going with this. If we were at the stage where all systems are go, I think we would see a much larger market cap for De-fi considering the potential it has to revolutionise the finance/banking industry as we know it, once the big players are invested in this area of crypto for me that is when this is all systems go!
We have Etheruem 2.0, GRT to migrate all subgraphs to a decentralised network, LINK staking, Uniswap v3 and so on, the infrastructure for web3 is coming into play, when this is all systems go the whole WORLD will know about it. Interestingly in an article on hackernoon.com one of 7 predictions for crypto in 2021 is
“Ethereum 2.0 will mark a new wave of development for cryptocurrency and especially DeFi and stablecoins.”Source
I couldn’t agree more with this statement, once ETH 2.0 is in play we will see a new type of bull run for de-fi and de-fi as we know it in my opinion will be changed for good.
Verdict – In short, once De-fi is the new standard coupled with web3 being fully operational that is when there is no turning back and we are all systems go!
The narrative and market have changed dramatically since the 2017/ 2018 Bullrun, Bigger news, less market reaction, less FOMO, more investor intelligence, richer retail investor core (the ones who already made it in 2017/ 2018, stronger established influencers, more awareness on what makes a good project.
If the news of Visa, Mastercard, and Paypal (all 3 of those are linked, check the Visa link, they aren’t playing) all accepting crypto as a means of settlement had been announced in 2018, I think many peoples head would have simply exploded. Of course, the news has been welcomed, but back in 2018, people got over-excited over XVG being able to be used for Pornhub membership. (Ofc it crashed not long after, sell the news, it wasn’t really world-changing as we had been promised ( holders of XVG paid for this to happen via a crowdfunding campaign, $2.75 million dollars to be exact)
This mystery company was touted by Verge as being “a global organisation with a vast network of high traffic sites [which] is looking to enter the cryptocurrency market.” According to Verge’s Thursday tweet, the collaboration would mark “the largest partnership in crypto to date!”Link to story
Marketcap 2018, at its peak, was (confirm) $800 billion dollars for the entire crypto market, today BTC alone is at $1,1 trillion dollars, and the total combined crypto market cap is $1.969 trillion dollars.
Institutional investment is now involved, the number of retail investors continues to grow, yet is nowhere near its peak of 2018.
On ramping (fiat to crypto) is now almost instant, on to all the tier one exchanges, you can onramp into self-hosted wallets ( why would you want to though )
Stable coins are for the most part now stable.
Defi now offers an alternative to just hodl or sell, now you can earn while holding, locked being the key take here.
CBDC are just around the corner, unless you are in China, in which case they are just down the road (see what the world economic forum has to say on the idea
Central Bank Digital Currency Policy‑Maker Toolkit
Centre for the Fourth Industrial Revolution
January 2020 (can’t believe someone hasn’t paid the bill for SSL certificate)
I don’t see this a 90% crash happening, I see the arrival of the large payment gateways as huge signs to “all systems go” if there is another bear market, it will not be as deep and it will not be as long, just as the stock market has, growth and retrace market cycles.
Crypto is not going to go away, it proved that during the long winter, big news now is not that a shitcoin can now be used to pay for pornhub, its banks, and the massive payment gateways accepting crypto, and people’s heads aren’t exploding, the holders of crypto have matured, many have already endured seeing their portfolio at 90% loss of value for prolonged periods of time, they are battle-hardened and are able to be comfortable with sitting negative market movements.
WINTER HAS BEEN, SPRING WAS 2020, SUMMER IS COMING! Viva la Revolution, Long live the Revolution
Verdict LFG ALL SYSTEMS GO
Let me start with a question to you, have you been in crypto since before the 2017 Bullrun?
If your answer was “No” then you’re going to be supporting my view on why this isn’t any normal bullrun.
We’re in completely different waters compared to 2017, in 2017 the average joe (me and you) and many financial institutions weren’t involved in crypto I had heard of Bitcoin but I had never been interested or even thought about spending my money on something I deemed as crazy at the time.
This time around, things are different: It’s not just the BTC HODLers who are causing cryptocurrency’s rise. The financial establishment have also added their fuel to the bitcoin rocketship.
Interest rates are around 0%
With interest rates around 0%, corporate and institutional investors have looked at other means to store their money.
In February, big investors.
All revealed investments or revealed plans to trade bitcoin and invest it on behalf of some customers.
Both Visa and Mastercard said they plan to add cryptocurrencies to their payments networks following the December announcement by PayPal that U.S users could buy, sell and hold crypto.
Banks, well-known business leaders and investors are all jumping on the digital currency bandwagon. In recent months, adoption and the influx of institutional funds has given Bitcoin credibility and legitimacy.
A growing number of institutional investors are buying into BTC, these investors who weren’t even interested in it back in 2017, some were even calling Bitcoin a “fraud”.
Does it smell somewhat of FOMO to you?
Now, with so much institutional money and investments at stake can you really see them letting BTC fall in price and take it lying down? This would be disastrous and counterproductive to all of those that have invested such huge amounts of money.
This is Bitcoins party and we’re all invited, BTC is driving the whole crypto market cap to new highs and the altcoins will follow in due course. Especially those with good fundamentals and projects, with The Graph at the forefront of my portfolio.
This is just my personal opinion, but if you’re holding GRT in your portfolio, delegate it, earn rewards and you’ll reap the benefits in the future.
We’re so early Graphtronauts, this is not a “2017 Bullrun” this is an all systems go. 🧑🏽🚀
Verdict ALL SYSTEMS GO
Rate of adoption is accelerating
Major payment players like PayPal and Visa entering the space feels like a watershed moment for crypto. Several countries are developing CBDCs and whichever way you look at it, this technology is here to stay and is going to play an ever-increasing role in our lives. The rate of adoption is accelerating and I don’t see this simply going quiet again for 3 years.
That’s not to say it won’t remain volatile for some time to come. This is still an irrational market in which hype cycles drive much of the price action. I believe that as the market matures, there will be a day of reckoning for projects with weak use cases and many will not stand the test of time. Those that provide solutions to real problems will eventually set themselves apart and that’s why I’m so bullish about the long-term prospects for The Graph.
The Graph is perfectly positioned to take advantage of the evolution to Web3 every step of the way because it’s a vital cog for building truly decentralised apps.
Some are calling this the “Blockchain Wars” – the way I see it, The Graph is a neutral power that can work with everyone and stands to benefit from every outcome. Data has become the most valuable commodity in the world and The Graph protocol provides open, efficient access to that on-chain data for whoever needs it.
If you had the opportunity to go back in time and buy Google shares in 2004, would you?
Verdict : all systems go 🚀
VERDICT ALL SYSTEMS GO
Blockchain is our next step on the stairwell of technological progression. With the rise of renewable energy, automated vehicles, advanced medical devices, and smart finances, there has become a need for transparency and increased validation. Blockchain technology is the solution that the world has been waiting for.
Because blockchains are faster, cheaper, and more private than traditional banking solutions, the finance sector will most likely see a huge rise in its reliance on blockchain technology. Recently, we saw GameStop Corp.’s stock hit some rather extraordinary all-time highs. Many users of trading applications, such as Robinhood, ran into issues trading this specific stock. Due to the controversy surrounding insider trading, there were many complaints online arguing that the integrity of the market had been compromised. Reports came out stating that some shares “failed to deliver”, which implied there was institutional trading of shares that were unavailable to the public. If this trading were to be switched to a blockchain solution, consumer confidence in trading would skyrocket.
Let’s look at a real-world example of blockchains being used in the enterprise world. Today, automobile manufacturers are competing to have the best-embedded software systems in their car’s integrated technology. Due to the potential vulnerabilities of having a software-dependent vehicle, consumers will want to know whether or not the integrity of their vehicle has been compromised, and manufacturers will postulate the best way to combat this issue. BMW has answered this need through VeChainThor, a public blockchain focused on enterprise solutions.
By storing raw, private information on a secure server, BMW allows users to access their car’s private data via a public blockchain. The private server holds the data, and this data is paired with a private key. The public key equivalent is stored on the blockchain, and with the proper user identification, the private data can be accessed. Because blockchain transactions are not able to be removed, consumers can retain their confidence in knowing that their vehicle is not compromised.
Right now, I would argue the market is not reflecting a “bull run”. Rather, the rise in price that we see reflects the public acknowledgement of the crypto’s potential to change the way we see the world.
This “bull run” is not a small blip on the radar that will quickly fade off; what we are seeing is the adoption of blockchain technology on a worldwide scale. The Graph, specifically, will be a key player in this global change. Web3’s adoption is accelerating with the new advancements in technology and server hardware. All of this data will need to be indexed, stored, and categorized for public viewing. While this is quite a monumental task, by breaking it down into individual puzzle pieces (Graph subnets), the mountain becomes a hill.
Is this an All Systems go or just another FOMO bull run for Crypto?
I would say it is a bit of both. The rockets are firing and there is great adoption and projects. Greater adoption than 2017 when I first invested as I learned about blockchain in 2016. My industry was barely aware of blockchain during the last bull run and many thought it a scam apart from the tech teams who were iffy at best. The last run was mostly retail FOMO as the utility had not started to really show up to the party, which is the key difference this time.
Things to watch are:
· Eth fees for using the Ethereum blockchain.
· The rise of Sidechains like #DOT, #AVAX, #MATIC and others along with competing blockchains like #TRON, and #STX rising in prominence and splitting market share.
· Visa, Mastercard, Tesla and others coming to BTC and top-level coins and technologies of the ecosystem. Question is will there be in data processing concerns at some point.
· The adoption rate of DeFi and understanding. This is interesting as it is where retail and institutions are required to do research and creates adoption vs FOMO. · Some security concerns with phishing attacks and some bad actors may increase regulations
Good things playing out:
· Web 3 ecosystem revolutionizing the world.
· New adoption to include sales, finance, data management, supply chain management industries.
· Many dApps with real world use cases and people are seeing the benefit.
· High volume of ledger sales on amazon.
· Ease of earning high yield compared to bonds or banks with current inflation.
· A revolutionary rise of work tokens to enhance the eco system and take the security risk out of it.
. #LINK and #GRT backbones of data management across the many chains
. #NU and #DIP in the security arena for data encryption and insurance of assets and smart contracts. · The Utility token landscape will be essential to bring in new industries. For example, look at salesforce with CRM data, or data aggregator golden.com and many mid-size businesses will benefit greatly from the web3 ecosystem acting as a future backbone to their solution offerings. check out this link for some others,
· Potential for NFTs to go mainstream. For example, Microsoft Halolens virtual environment training integrating NFTs is a possibility.
This is no longer old Vegas where the house wins this is New Vegas the players drive the rules and the game instead. So, with all of this said what is the verdict?
The engines are primed and ready and all systems go, just easy on the gas as breaking the stratosphere is quite the task just ask the Astronauts.
Verdict: All systems go
Verdict All systems go
This is why I believe this bull run will be different. Previous bull runs were driven primarily by retail investors. Knowledge of cryptocurrency was limited, which resulted in fewer people being involved. Flash forward to 2020-2021, cryptocurrency is now hitting mainstream media and it is gaining interest with institutional investors.
Some of the most prominent institutions that are currently involved are Microstrategy, Square, and Tesla. The World Economic Forum (WEF) and Chainlink published an extensive article about interoperability for blockchain and legacy systems. Insurance giant Mass Mutual has Bitcoin on its balance sheet and BlackRock (the largest asset manager in the world) is now getting into Bitcoin.
Cryptocurrency exchange Coinbase now has an IPO coming out on April 14th. Top financial service, PayPal, has also adopted cryptocurrency and allows consumers to purchase it through their platform. I strongly believe that many other prominent institutions will follow suit, creating a snowball effect.
This will bring a lot more money into the cryptocurrency market. Recently, dips have been occurring for a shorter duration of time because institutions are taking advantage of these dips and viewing them as opportunities. This is because they feel decentralization is the future. If a dip follows this bull run, I feel the drop will not be as severe as it has in the past because of the continued validation of cryptocurrency’s power.