Bitcoin remains king
The current market moment of cryptoactives has served to show that only those tokens that have the ability to function as a reserve of value have some economic interest. And there are really very few who are able to capture the economic value generated by their underlying decentralized protocols. In this sense, the current capitalization (which has nothing to do with the classic stock market) already marks this first differentiation between the winning and losing tokens, where, through its contribution, the dominance of one over another has become clear in this exercise.
In this sense, the recovery of the dominance of Bitcoin in the cryptomarket stands out. If in January this year its capitalization did not reach 35% of the total market, figures of around 55% have already been reached, which is a clear symptom of this search for courage and recognition of supremacy.
First of all, Bitcoin has proven to be fully reliable and operable 365 days a year 24 hours a day. After the security tests of your protocol, you are working successfully on scalability, and systems like SegWit can provide greater capacity to the network. Likewise, so-called batching or transaction pooling will save a lot of space and provide greater efficiency, and the 'lightning network' is expected to be able to accelerate, load and allow micropayments at minimum rates.
It has always been said that, the moment a large player of the size of PayPal or Amazon accepts it on their platforms, you can open the way to a massive adoption of that cryptocurrency as a means of payment and, if so, without a doubt that the best positioned is Bitcoin.
The bet now falls on the ETF (Exchange-Traded Funds) side. After several rejections by the SEC of the approval of the first of these massive investment instruments, the focus is on what may happen at the end of September with respect to the CBOE VanEck/SolidX. In this case, and unlike the previous ones, this ETF presents certain substantial differences that attract and feed the attention and expectations of investors. As a summary, this product incorporates the following differentiating characteristics; at the custody level, you will have the BTCs physically deposited (private keys) as collateral of the fund and the CBOE will act as guarantor. It already trades several exchanges in the United States and has proposed listing the BTC ETF on the BZX Equities Exchange. In addition, it has the aforementioned bitcoin-quoted futures and is a regulated entity with sufficient confidence before the SEC.
This ETF, unlike the previous ones, is designed for the institutional investor and is not intended to attack the retail client, as the minimum to invest would be $200,000. This takes pressure away from the SEC, whose concern comes precisely from that side of the final inverter. Negotiation is intended to be TBT and not electronically, which will prevent manipulation and improve transparency. Finally, a union of insurers has been established to offer greater protection to the investor, and both VanEck and SolidX have applied for registration independently. In the end, this option involves having highly trusted generators, which bring proven experience in asset management and where the possibilities of obtaining the approval of the regulator are in theory somewhat greater than in the previous cases.
Likewise, as discussed a few months ago, the new generations are 100% digital, which is an additional reason to think that for the time being Bitcoin will remain the king of cryptocurrencies.
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