BTC/USD competes with ETH/USD: What cryptocurrencies will be in demand in everyday financial transactions?

Strong announcements from international payment systems was one of the key reasons why the quotes of the main crypto assets are sharply rising. For example, PayPal has launched a feature that allows cryptocurrency holders from the US to use coins to pay for goods and services. Another huge payment system, Visa, has announced that it will launch a program that will use USD Coin (Stablecoin) on the Ethereum blockchain to make transactions on its own network.

Due to the announcements, the quotes of the main cryptocurrencies continued to increase rapidly. The BTC/USD pair reached $ 59.3000, and the ETH/USD indicators overcame $ 1800 and stopped at $ 1860. These indicated cryptocurrencies will benefit in the future from the full implementation of digital assets in everyday financial transactions around the world.

analytics60634160c93ce.jpg

analytics6063415554fd8.jpg

Bitcoin quotes will reach new heights due to a significant increase in demand and stable growth of the asset in the global perspective. Otherwise, the main digital asset will be noticeably inferior to its competitors. The global and full-scale introduction of digital coins into everyday operations will have the greatest impact on Ethereum. This coin is expected to develop due to the technical characteristics of the asset, which are superior to Bitcoin in all aspects: from the number of transactions processed per second to the amount of commission. In addition, the impending transition to version 2.0 will allow the cryptocurrency to save on expensive equipment and perform more than 1000 operations per second. It can be assumed that it is Ethereum that will be used in everyday transactions in the long term, and not Bitcoin. Nevertheless, BTC will continue to be an important digital asset due to its rich functionality and investment attractiveness.

On the other hand, Cardano and Polkadot projects can become possible ETH alternatives. It is noteworthy that altcoins are already taking over the users of the Ethereum network due to their smarter architecture. However, their main advantage over the ETH/USD pair is its dynamic development. Altcoins only increase the current indicators of daily trading, which exceed all expectations, and with positive market dynamics, they even boost immediately. The quotes of the ADA/USD pair reached $ 1,238, but failed to hold on to these positions, waiting for the decision of the Flare Networks blockchain on the integration of the cryptocurrency. This indicates the transition stage of the asset, which is at the stage of creating its own safety margin. The DOT/USD pair is trading at the level of $ 34,000 and slightly plunge in price, which indicates a greater level of development than Cardano. This also means that the asset is in safe positions in the near future and is ready to increase with the needed impulse.

analytics6063417988c3c.jpg

The real prospects for the ADA/USD and DOT/USD pair are still unclear, despite numerous studies from large companies, as well as the creation of a financing fund by a Dubai investment company. This is largely due to the development of both the digital coins themselves and the platforms on which they are placed. The independent cryptocurrency exchange Uniswap, wherein assets are traded, is still developing. Recently, it set a record and received $ 4.5 million in commission per day. In the long term, the main pursuers of Ethereum have every chance to compete with ETH. But until then, the technical advantages of altcoins are offset by real investments and opportunities of Ethereum.

Therefore, we should not underestimate the meme cryptocurrencies, which is primarily represented by Dogecoin. The digital coin is also actively being introduced into the payments space, but not as globally as Ethereum and Bitcoin. Local companies, such as the Latvian AS Air Baltic Corporation, which began selling tickets for flights for Dogecoin, are reported to have introduced the cryptocurrency. In addition, CoinFlip ATMs have added the ability to purchase a meme-based crypto asset.

The asset is rapidly taking its place as a situational means of payment due to wide publicity, although the current rate of the DOGE/USD pair is $ 0.0561, and the daily trading volume does not exceed $ 1.1 trillion.

analytics606341864f5da.jpg

analytics606341bc57c00.jpg

The material has been provided by InstaForex Company - www.instaforex.com

Pages