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Top Analyst Explains Why Crypto Hasn't Gone Mainstream

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Tue, 06/16/2020 - 14:03
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Vladislav Sopov
The cryptocurrency and blockchain industries are definitely lagging in mass adoption. Messari's director of product has offered some reasons why
Top Analyst Explains Why Crypto Hasn't Gone Mainstream
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Qiao Wang, a top-level blockchain analyst involved in cryptocurrencies since 2012, suggested some possible reasons for the insufficient mass adoption of decentralized technologies.

First technology, then users

As explained by Mr. Wang, in general, the blockchain & crypto sector is still in its infancy. Thus, the codebase of decentralized products may be described as 'low-level'.

Qiao Wang unveils the dissonance between technology and its adoption in crypto segment
Image via Twitter

However, the prospectives for blockchain technology look so bright that they attract people 'obsessed with the tech'. In contrast, entrepreneurs and engineers 'obsessed with users' avoid this segment of development.

This issue could be resolved if the levels of abstraction for developers was raised.

Alongside that, Mr. Wang outlined that this paradigm shouldn't be attributed to Bitcoin (BTC) and stablecoins. Their mass adoption follows special patterns.

Different skillsets

Lastly, Mr. Wang admitted that creating low-level code has very little in common with building consumer products for end-users. These processes take different skillsets and very few people in the industry have them both.

Legendary entrepreneur Dan Hedl agreed with Mr. Wang's suggestions. He highlighted the lack of non-CS 'understanding' in the blockchain segment:

There’s a complete lack of product/design/marketing thinking in the space.

Famous Crypto Twitter troll Udi Wertheimer outlined that it is not only about marketing.

The issue he sees is the fact that, mainly, product teams fail to deliver interesting products and, therefore, have nothing to market.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?

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Fri, 10/23/2020 - 09:24
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Vladislav Sopov
Grayscale, undisputed giant of institutional crypto investments, is celebrating another monstrous milestone, adding a nine-digit sum to AUM in 24 hours
Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?
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Grayscale is an investment company that provides the clients with an exposure to digital currency markets eliminating the need to buy tokens. The firm does it by selling shares of 'trusts' related to certain digital assets. The recently started FOMO has already brought Grayscale's 'asset under management' (AUM) values to previously unseen levels.

Grayscale assets are on steroids

In its most recent report shared in a tweet, Grayscale Investments stated that its net AUM now surpasses $7,300,000,000. Mostly, this upsurge should be attributed to the spikes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) prices.

Grayscale adds $300M to its AUM in 24 hours
Image by Twitter

Its founder, CEO of Digital Currency Group Barry Silbert, unveiled that Grayscale’s holdings added a whopping amount of value in the last 24 hours.

Added a cool $300 million in AUM in one day

In terms of separate ‘trusts’, the most impressive increase is associated with Litecoin (LTC). Its value added almost 10% bringing its total to over $34 mln. 

Bitcoin (BTC) allocation surged above $6 bln with a 5% increase. Notorious Grayscale Ethereum Trust (ETHE) added 6% and now is valued at $942 mln.

PayPal assists Grayscale

By contrast, Stellar Lumens (XLM) and Bitcoin Cash (BCH) trusts witnessed mediocre increases of 2-3%. The only integral product of Grayscale, Large Cap Trust that unites the most valuable coins under its umbrella, therefore, added less than 4%.

The numbers of Grayscale Investments positions rocketed due to the rapid spike of crypto prices associated with PayPal’s decision to add major digital assets to its instrument toolkit.

As covered by U.Today previously, PayPal announced that Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) will be added as payment methods by the end of this year.

  

Following this surprising news, Bitcoin (BTC) revisited its multi-months high over $13,000. At press time, its price has slightly retraced and flirts with the $12,800 level.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)