Cryptocurrency is Growing During the Market Winter
Cryptocurrency and blockchain technology are undertaking major changes and are becoming widely adopted during the "Crypto Winter" of 2018-2019. The genie is out of the bottle, and now large companies like IBM and Circle are getting on the cryprocurrency train. I am excited for next quarter, and wanted to highlight some new cryprocurrency developments:
Circle, the Boston-based cryptocurrency firm which purchased Poloniex is growing. Circle purchased Poloniex for $400 million, and has an estimated market cap of $3 billion. Users and trading of cryptocurrency have increased steadily during "Crypto Winter", and the firm has a big future ahead.
IBM has launched a global payment system utilizing the Stellar Lumen (XLM) blockchain. This could be a Ripple XRP challeneger. The payment system has begun with Lumens, but could also utilize Bitcoin and Ethereum.
These are two huge developments that could serve as Cryptocurrency Market catalysts. Expect many more partnerships going forward.