[Digital Today Reporter Choo Hyun-woo] Recently, the virtual asset (cryptocurrency) market is showing strong altcoins, mainly Ethereum. Bitcoin rarely crosses the $60,000 resistance line, while Ethereum is leading the uptrend, exceeding the $2,000 wall. Not only Ethereum, but also Polkadot, Cardano, Ripple, and Litecoin are showing a clear rise.
JPMorgan predicts that Bitcoin will rise to $130,000 in the long run as the trend of safe capitalization becomes clear, such as a decrease in the volatility of bitcoin and an increase in the proportion of institutional investments in line with the rise in virtual assets.
Market interest in non-replaceable tokens (NFTs) continues steadily.
A social media platform focused on NFT is expected to emerge soon. Dapper Labs, one of the representative companies that implemented NFT as a real service, invested $350 million in investment. Development of the NFT platform Efinity based on the Polkadot blockchain is also underway.
Coinbase, which is evaluated as the largest virtual asset (cryptocurrency) exchange in the U.S., is scheduled to be listed directly on the NASDAQ market on the 14th (hereinafter, local time). The abbreviation of the exchange was known as’COIN’. The listing of Coinbase is expected to accelerate the mainstreaming of the virtual asset market.
The commercialization of blockchain-based services is also appearing one by one. Blockchain-based Corona 19 vaccine passports have been adopted in New York State, and Bitcoin is being used to pay for tickets. Visa continues to widen the range of stablecoin payments.
The interest in the digital currency (CBDC) issued by the central bank is also growing. While the central bank, the Bank of Korea, is conducting related research, analysis data are coming out from the Institute of Finance and Research under the KDB Development Bank. Commercial banks are also paying attention to future prospects. It is news that not only finance but also the business community at the FKI level has also begun research on CBDC response.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.