The anonymity-centric altcoin known as Monero (XMR) is in the news lately as the ‘best buy in crypto’ according to many analysts. Even though Bitcoin is not far behind the altcoin, Monero is rising fast and the rise seems to have attracted many potential investors on the market.
According to a new report issued by an initial coin offering (ICO) advisory and research firm named Satis Group, Monero (XMR) is currently the 11th largest cryptocurrency – but that could change soon. As the report predicts, Monero (XMR) could be worth $18,000 within the next five years – which would represent an 18,200% increase from its current value of $98.
The ICO advisory firm attempts to forecast what shape the cryptocurrency market will take over the next decade. The reason why XMR is in the spotlight now is simple – the firm expects that 90% or more of its crypto asset valuations over the next decade will be linked – not to decentralized applications (dApps) or other use cases – but to offshore deposits.
As a cryptocurrency that is uncensorable and helps users obfuscate data, Monero is definitely one of the top gainers in this decade. In the other group of potential crypto assets, Satis ranks Bitcoin as a top-gainer over the next couple of years, predicting a $96,000 price mark in five years.
As the firm reported:
“Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”
Other large-cap cryptocurrencies are also expected to appreciate against the dollar, according to Satis, and these may include Ethereum, Litecoin, and Dash – however, all of them will see their market share crater compared to the price of XMR and BTC.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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