Sign of Democratization of Cryptocurrencies – Bolder Moves of Businesses

By Maheen Hernandez October 3, 2019 Off

The price of the Ethereum is predicted to be in a corrective move.  The price tested the resistance at $185 versus the USD.  The price is currently correcting in the lower; however, it continues to be supported in the $175 and $172 range. A bullish trend line with support near $171 is formed.  The price continues to be supported near the dips at the $172 and $170 levels.

The price of the ETH is consolidating versus the Bitcoin; however, it is showing positive signs versus the USD.  The ETH price might likely break near the $185 resistance; however, this will be possible only if it sustains above $170.  The corrective move is geared towards the $200.

Binance has frozen nearly 12 billion TRX and has eventually made its way to the top spot in the as a TRON representative.  The frozen funds account for 59% of the total votes.  This will ultimately sustain the dominance of Binance as a super representative. Due to this activity, Binance has been criticized for its centralized behaviour. Arguments have been triggered concerning the governance models and proof of stakes.

The inflation model in Stellar Lumens is not working well, and the foundation is working towards modifying the inflation operation.  The proposal has been announced to its community via a blog post.  The reason cited was that the mechanism was not serving the purpose it was defined for.

Investors much await the effects of the rebranding of Ripple.  However, Ripple has to state that they have tried to reinvent themselves by this move of rebranding by saying:  “In other words, what was previously called xRapid is now called On-demand liquidity, and the abbreviation is ODL. Whether you’re using ODL or pre-funding, the remittance messaging part is the same mechanism (platform).”

 Ripple is currently going through a strong bearish trend, and the rebranding process has triggered some optimism among its community members. It is expected that the prices would increase at least in the short-term. Whether this strategy from Ripple will work is what time has to tell.  We are in a very early phase to predict anything about this move.

There is a lot of scrutinies and increased regulation happening in the sector, and businesses are having to do a lot to convince regulators about their ability to protect funds. Some businesses are progressing slowly; however, the bolder ones are moving ahead.

Bold token issuers think in terms of what the future might hold for the assets as a whole. This is a sign of the democratization of cryptocurrencies.