Battle of the Fittest - The Crypto Scene in 2020
Only the strongest will survive the turbulent, nascent stages of the Cryptocurrency industry. After some early promise, 2019 has been a relatively flat year for Crypto. For Digitex Futures, it's taken both strong leadership and tenacious persistence to set up the huge potential we now see for 2020. Let’s take a closer look.
Build It and They Will Come - Eventually
Let’s face it, 2019 pretty much failed to deliver the expected flood of institutions and large scale adoption we all anticipated. While the BTC price action grabbed the headlines raising hopes of new highs in the second quarter of the year, the industry as a whole has remained relatively flat, as you can see from the charts below.
But despite this, if you dig just under the surface, there is hugely positive sentiment. If you take the share of job postings for blockchain and crypto (a leading indicator of the health of market sentiment) you’ll see it is up 4,086% from 2016 to 2019.
Not only that, inward investment to blockchain startups, especially related to fintech and AI, is close to nine times higher than in 2013. Not forgetting, and much as we’ve seen with Digitex Futures, the huge amount of time, energy and effort that is being actively dedicated to building out world-class crypto platforms and infrastructure, such as crypto lending platforms, high-interest accounts, and products for institutional investors.
Despite the doldrums, when viewed through these optics, the future looks highly encouraging for the industry. Digitex Futures is set to arrive just in time for cryptocurrency and blockchain to really begin to position themselves as an integral part of the world economy.
Grit and Determination Will Pay Off
Getting to this point has, of course, been an exercise in tenacity that only a few founders possess. While others have taken to public meltdowns on Twitter or opted to exit scam, Adam has stepped up to the plate.
He’s taken full responsibility and consolidated his team to deliver on his promise. In the process, delivering a platform, that even despite all the setbacks, is not only as good as hoped but magnitudes better than expected (at least, so far!).
While in the broader industry 2019 has failed to ignite the imagination of the general public, the scene is being set for 2020 to be an entirely different story. Much of the hard work and persistence from Adam and the team look primed to pay huge dividends as we move forward.
With the release of a world-class beta version that has gained massive praise for its usability, addictiveness and quality, the reality is that it won’t be long until Digitex Futures alongside and perhaps leading already hugely successful projects like Brave Browser, Maker DAO and Nexo, are at the forefront of real-world customer adoption.
Final Thoughts for Some Perspective
For Digitex Futures, while the challenges have tested the metal of Adam and the team, they have not quite been existential. For perspective, take Vertcoin, dubbed “the peoples’ coin” valued at just shy of $10 per coin with close to half a billion-dollar market cap at its peak.
Despite its noble cause and hugely passionate team, nothing could stop its key selling point “easy mining” from becoming its critical weakness. After suffering two 51% attacks (in which bad actors executed a double-spend), this project looks to be in a crisis from which it cannot recover.
There have been many other projects that were expected to achieve sensational heights in 2019, including the highly-financed Polymath and behemoth ICOs like EOS that appear to be falling apart at the seams. But only those projects that can find their real use-case, and tough skin will stay the distance.
As Digitex Futures continues to steer a course for success and finalizes the beta for launch, the market has seemingly provided nothing but validation for its business model. This includes record volumes on futures exchanges, exponential growth in the appetite for trading futures products, and even exchange tokens outperforming BTC in 2019. Digitex Futures arrives not only with a superior product but, it appears, at the exact right time.
When you combine this with Adam’s expansive and ambitious goal to attract millions of new retail traders through provably fair market makers, commission-free trades, and a beautifully simple desktop and mobile app, it would be fair to say that Digitex Futures has a real chance to be at the very forefront, leading the charge for huge and sustained mainstream adoption.
A Look Into 2020
As we move forward, the jury is undoubtedly still out on the entire industry. Thankfully we’ve moved far beyond the peak froth of 2017 when simply adding blockchain to your name increased your valuation threefold.
Over two years later, it’s starting to become clear which projects have the dedication and resolve to make it. Many will fail and only the strongest will survive. However, little by little projects like Digitex Futures are emerging from the vibrant and chaotic stages of innovation to become fully realized world-class platforms that will lead the next wave of technological adoption.