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The cryptocurrency market is very big when compared to traditional asset classes like precious metals, real estate, equities, GDPs, public debt, student debt, and more. The significance of the market cap of the cryptocurrency industry is huge.
The cryptocurrency industry is performing better than several global industries. Though the industry lags behind several other industries like oil and gas exploration and food industry with global financial services being at the top of all – crypto is expected to be disruptive replacing traditional fintech for several reasons.
The total value of the crypto industry is backed by several featured companies, which do not have anything to do with cryptocurrency issuance. Cryptocurrency issuance deals with a lot of things like hardware wallets, marketing, and media agencies, mining firms, blockchain startups, payment networks, crypto-focused venture capital funds, and more.
FUD about the cryptocurrency space is slowly decreasing. Several investors can again some hope. Investors can understand concepts like crypto winter, volatility, inflation, bull run, bear run, market cycle, and more. The Crypto market is showing signs of strength and investors now know that this market is here to stay.
Investors are prepared to wait through worse crashes holding until the next bull run can happen. Bitcoin and cryptocurrencies are becoming an essential part of the investor portfolio.
The web 3.0 ecosystem is booming and some of the largest ecosystems are filled with activities due to committed developer activity. The number of new developers who are committing real and original code is increasing. Machine-generated codes are still being used, but authentic and original developer codes are gaining momentum. The numbers of monthly developer activities are promising.
Gavin Wood expressed: “New ecosystem developer analysis by Electric Capital shows Polkadot literally in a class of its own with clearly the strongest developer growth since the launch of any Web3 protocol and by far the biggest dev community outside of Ethereum.”
There are several factors like quality, the value of the code, and user-friendliness involved in coding which in turn contributes to the strength of the ecosystem adoption.
A lot of things are happening in the cryptocurrency ecosystem like an extensive ecosystem of DeFi apps. Those who are starting can create, build and scale new projects. Theory, practice, and code snippets are happening in almost every crypto ecosystem.
Everyone is beginning to look past Ethereum and Bitcoin, there is a big new world out there with Polkadot, Cosmos, Solana, BSC, NEAR, Avalanche, Tezos, Polygon, Cardano, and many more.
