Ran Neuner Tweets Cryptocurrency Moving Towards Mass AdoptionOctober 7, 2018
The first week of October continued to be stable despite major industrial happenings like institutional investors stepping their foot into the crypto market.
Ran Neuner in his comments about why the news like TD Ameritrade, Ivy League, and the U.S University making it to investment and speculation in the cryptocurrency industry did not move the market, states that the market is geared towards “real world usage and mass adoption.”
In his tweet on SF Blockchain week on day one, he remarked: “No one is talking about prices, ETF’s or market cap, the discussion is all about the route to adoption and reflection on the mistakes of 2017.”
The more one is reading about cryptocurrency, the more suspicious they get about the frauds in the making of the cryptocurrency. With the price volatility around the corner, investors are trying to keep themselves away from Ponzi Schemes.
Updates from SEC and breakthrough decisions from Bitcoin ETF decisions are all “good news.” Gemini has obtained insurance on the cryptocurrency. However, since the market is moving towards mass adoption, there is stability in the price ranges of currencies.
The price of Bitcoin over the past one year has been hovering somewhere around $6,300 through $6,600 per details from the Bitcoin Price Index. This is also true with the price trends of top significant coins except for Ripple.
Ethereum after hitting its lowest price point at $175 is slowly recovering its position. ETH is trading at $224, and it was up by 0.39 percent at the time of reporting.
Ripple the third largest crypto by market cap dropped dramatically down at -7.27% and this is leading to a total of 15% loss on the week.
While Ripple is holding 60% of its gains in the 30 day period, Ethereum is set to move to the second place: however, the major Altcoin continues to be up in the past 30 days.
The total market capital of all cryptocurrencies was at $217,552,915,242 at the time of this report.
When considering the top gainers and losers place regarding growth in the past 24 hours from among the top 20 coins, Tron is showing the most significant gains at the time of reporting. TRX shows a 3.81% growth, and it is trading at USD 0.024076USD.
The highly discussed concept in the cryptocurrency industry is about the proposed rule changes from the SEC (Security and Exchange Commission). The rule changes are about the applications to be made for listing and trading Bitcoin and different types of Exchange-traded funds. The review period for the proposed rule changes has been set on October 26, 2018.
Mass adoption now is geared towards a trend where even a rural farmer in South Africa will be able to use the cryptocurrency. The protocol developments are running to a stage where the user will be using it without having to understand that it is running on a blockchain.