Since Oct, 22, Stellar (XLM), Litecoin (LTC) and EOS (EOS) are not the only ones that have increased significantly.
“I told my group that it was an alt season”
CHC (CHC) and Chiliz (CHZ) have increased immensely. Several projects, such as iExec RLC (RLC) and 0x (ZRX), have increased over 100%.
We’re in a crypto market that is turning more bullish.
I told my group that it was an altcoin season, and many people told me that it wasn’t, but it actually is.
The end of the year is usually a very good time for crypto, and I think that we’re starting to see institutional interest increase.
We’re also going to see more increases in projects that have a use case as I’ve mentioned before.
In addition, it’s been a long bear market.
So all the reasons aforementioned are the reasons why the altcoin market is starting to heat up. Bitcoin is starting to heat up.
On the one hand, there’s going to be some altcoins that will slowly die off because of that.
But on the other hand, this situation will reveal some tech projects that have a valuable utility built-in. This is often the reason for the demand to go up. So we’ll see those altcoins increase in value, and that’s normal.
What happened to BitMEX
BitMEX Deputy COO Vivien Khoo:
“Earlier today, the majority of our users received an email containing the email addresses of other users in the ‘to’ field. This was a general email update about upcoming changes to the weighting of our indices. We are deeply sorry for the concern this has caused to our users. The issue was caused by an error in the software used to send emails. As soon as we were made aware of the issue, we immediately prevented further emails from being sent and have since addressed the issue to ensure this does not happen again.”
As for BitMEX, that was a fail of epic proportions. As far as I know, one guy has 34,000 emails right now. I have 2,000.
People, including myself, now have the immense amount of privacy concerns. Because it exposes a lot of user’s privacy. And they are still getting their subsequent accounts on different websites hacked.
This is really a horrible thing, and it shows that the BitMEX team doesn’t really care that much about their customers because they don’t do a double-check or a triple-check beforehand.
It’s an epic failure, and marketing agencies and crypto companies will absolutely love this. They will pay for these valuable lists because they will add so many crypto users to their databases.
Real estate will be a massive play for STOs
In 2018, I was on stage at the DS Summit, and it was an STO panel where we discussed if STOs are the future. I said, absolutely. But the only problem with Security Token Offerings right now is that they’re as expensive as an IPO.
Also, they have no secondary market. There’s no-one to be able to trade these tokenized assets. I mean, as much as they have a future, it’s going to take two to four years from now for us to see a secondary market.
People should validate Bitcoin and Blockchain, which will help tokenization of everything. And then, we’ll see another bull run.
A lot of companies will want to tokenize their securities because it just makes it easier. And over time, it will be immensely cheaper to operate. In the future, you’ll have a lot fewer middlemen to pay a lot less, also, we’ll see a lot more automation and a lot more transparency.
You’ll eventually see something like Stephane de Baets did with his STO called Aspen. He said to me, “You know, we’re way too early, but we want to lead the way into the future, and this is the future.”
And I totally agree that real estate will be a massive play for Security Token Offerings, but I also think that companies are going to use it like dividend-type tokens. Equity-type tokens will come in the future.
Right now, there are not that many STO projects. And, personally, I haven’t gotten into STOs yes.
Why? Because there’s no way to actually trade these assets at this point. It’d be a longer-term play, like a stock. Whereas I like liquid markets that move more than 5% in a year or, sometimes, with crypto and Bitcoin, you could see 10% in a day or 40% in a day.