The Crypto Market and Boliecoin: Where are we right now?
It seems like every time cryptocurrencies enter the regular news cycle, it’s because of a controversy. Be it due to their price, mining costs, volatility, legal status, or something spectacular. Most reports on cryptocurrencies talk about exceptional happenings in the market.
This leaves many questions on what the market is about. Is there even a cryptocurrency market outside the wild swings of Bitcoin and Ethereum prices? Is there anything like a status quo there?
The Crypto Status Quo: Boring or underperforming, full of hope
Of course there is a status quo and a regular market. There’d have to be, else we wouldn’t have dozens of very successful crypto exchanges – a permanently volatile market would naturally make this impossible. While what we hear the most about are the wild swings, and while it is true that the crypto market is inherently volatile, not every token displays the volatility of Bitcoin, and even Bitcoin isn’t always jumping up and down.
The truth about the cryptocurrency market is that it works and moves a lot like any other rated investment market. Things go up, things go down, and depending on your goals when entering it, your involvement will need to be bigger or smaller – a long term investment you can let simmer for months or years, while if you’re attempting to go with day trading you’ll have to be much more hands-on and ready to react at a moment’s notice.
Underperforming, but growing
The reason I’m tagging the crypto market as “underperforming” even when we’re in the middle of a huge rally is simple. While many coins have gained a lot of value and trading amounts are soaring, in truth, crypto adoption is still in its early days. Some bright spots have emerged with Tesla announcing that you can buy cars with crypto, and some merchants supporting crypto payments around the world.
While the new developments point to a changing narrative, crypto proponents want a faster trajectory in the adoption momentum.
Yet, there’s also a reason why I’m considering the market to be underperforming, but not dead in the water. It does have a future, we’re just not entirely sure which shape it will take yet, and most crypto experiments of the last decade have endured so far. Businesses are now built around some crypto, and the industry has shot bast the 2 trillion-dollar capitalization mark in recent weeks.
We’re yet to see which form the first cryptocurrency to gain mass adoption will take, although there are several contenders. One thing they do share, however, is that they all have set case uses, instead of being just cryptocurrencies for the sake of being cryptocurrencies.
A growing market with a purpose
In the P2P crypto economy, such innovations like Boliecoin happens to make a difference. This crypto is used for Peer -to-Peer settlement with a near-instant completion rate that is change-making. When you need to transfer value to someone or a business, Boliecoin comes to the scene. The absence of a centralized authority makes it a truly decentralized solution for payments in the internet/blockchain economy.
And the use case of Boliecoin is worth reiterating as it might well be the most important one here. Where a decade ago blockchains were created just for the sake of creating them, most blockchains that gather any attention today have specific problems they aim to solve. Usually they also tend to run on top of another existing, successful blockchain (often Ethereum,) making their tokens automatically compatible with and exchangeable for other tokens in the same chain.
As the market keeps growing and maturing, this trend is likely not only to remain, but to grow even further. While today we still have several dozens independent blockchains fighting over dominance, in the future we’ll likely see fewer, larger blockchains, each hosting hundreds of projects to solve several real-world problems.