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.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
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