Cryptocurrencies have become a part of the daily crypto conversation, and today, cryptocurrencies are deemed as a great option for investing, even for institutional investors. Otherwise, a lot of retail investors are obtaining cryptocurrencies. This means that the crypto market is growing and expanding significantly. In fact, the number of crypto users on a global scale has reached approximately 100 million crypto users. That being said, let’s take a look at some of the more prominent trends in the crypto community.
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1. Support of Cryptocurrencies by Accredited Institutional Investors
As we mentioned earlier, we have seen a significant increase in the number of investors, including institutional investors that have supported the crypto adoption by placing large crypto investments. As a matter of fact, there are crypto trust funds created specifically to allow seamless trading for institutional investors, such as the Osprey Funds, Crypto Hedge Fund Arca, Pantera Capita, and others. In other words, large-scale funds are being invested in crypto, which fuels the demand for cryptocurrencies.
2. Accessibility of Crypto Trading Sites
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There is a greater accessibility of cryptocurrencies even as today there are over 4,000 cryptocurrencies available on different online trading sites, but the main advantage is that the users can choose from different online trading sites to invest in crypto, buy, or sell different virtual currencies from their mobile and desktop devices.
3. Governmental Support
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Governments have demonstrated their interest in regulating cryptocurrencies, and there are also countries that work on creating their own virtual currencies, such as China. Actually, China has worked on the development of the e-Yuan, a virtual version of their national currency. It has generated a lot of hype, not only in China but also globally, since it’s expected to explode in value when it’s released. If you also want to invest in e-Yuan, the good idea is to register on a trading platform like YuanPayApp.
The trading platform uses high-end technology to offer a great trading experience to each user regardless of their background. All you need to do is to make a deposit of at least $250.
Another government that has expressed its support for the largest cryptocurrency on the market, Bitcoin, was El Salvador that has adopted Bitcoin as a legal tender, and it’s one of the first countries to do so.
4. Appreciation of Value
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Since Bitcoin entered is a bull market phase, the price of cryptocurrency kept increasing, and this was noticeable in other cryptocurrencies like Litecoin, Ethereum, and many others. Basically, because the market is small, events like this have an impact on the value of cryptocurrencies. So the value of crypto, in general, is increasing, and we expect certain digital occurrences to exceed their value and reach higher prices.
5. Business Support
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Lastly, it’s worth mentioning that based on the support from the government and accredited institutional investors; we also expect mainstream adoption of crypto to happen in the near future because there is a vast number of businesses that accept crypto payments.
There are many brands that want to make it easier for crypto users to access their products and services even when their shopping offline. Some of the most notable brands that accept crypto transactions are Microsoft, OkCupid, Bloomberg, Square, Home Depot, Twitch, PayPal, and many others.
In addition, there are also businesses that have made investments from their corporate funds in crypto. One example is Tesla which has made a $1.5 billion investment in BTC in 2024. In conclusion, in this digital age, we have seen increased interest by institutions as well as the public sector and individuals in cryptocurrencies. Also, as the advantages exceed the disadvantages, it’s safe to say that we will experience mainstream crypto adoption in the future.
Best Cryptos to Invest in 2024
Before we end this article, there is one more thing that we have to say. You are probably wondering which digital currencies deserve your attention the most. Of course, Bitcoin is number one among all the people because it has the longest tradition. However, it also requires a bit more money, and that is something not many people can afford. Because of that, we would like to highlight some alternatives that have a perspective to grow in the future. Let’s find them out together!
Ethereum
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When people start exploring the crypto world, the first digital currency they hear about is Bitcoin. If they decide to continue their research, there is a big chance the next crypto they will find is Ethereum. However, there is something unique about this digital currency – it is also a network that allows all its users to develop a personal crypto by utilizing the Ethereum network.
The value of one ETH is a lot lower compared to Bitcoin currently. You can buy 1 coin for a bit more than 2100 dollars which makes it attractive for all the people that want to invest in crypto but they do not have enough money to do that.
The reasons why it gained popularity growth are the unique technology the crypto is using as well as good marketing. Because of that, if you are looking for an alternative to Bitcoin, then this one should be the first one you should check out.
Cardano
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When we talk about Cardano network, it is relatively small, but that is also something that many investors appreciate. They do not have to spend a lot of energy to complete multiple transactions during the day. The Bitcoin network requires a bit more energy because it is a lot larger. Despite that, it also requires more money while the Cardano network does not have that type of requirement.
Anyway, another thing that you will surely like about Cardano is security. We do not want to say other cryptos are not safe, but this one is developing security features almost every single day. If you want to ensure peace of mind and invest in some affordable cryptos, then this one will surely seem interesting to you.
Polkadot
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There is an interesting story behind Polkadot. Its creator is one of the creators of Ethereum that simply decided to create his own currency. However, this time, he wanted to design a better network that will boost the speed of transactions and improve its security.
The purpose of this crypto is to reward all the skilled investors that are trying to make money by trading on the stock market. Believe it or not, the investors can make some decisions such as network updates, network fees, and other important stuff as a reward.
Tether
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The acronym of this digital currency is USDT, and there is a good reason for that. It is directly connected with the US dollar. For each unit of Tether that exists there, there is one dollar in the Federal Reserve Bank. That is the reason why many investors consider it attractive.
