Bitcoin, Ethereum, and other cryptocurrencies have seen astonishing price gains in recent years. Of course, this has not been met without a chorus of “Never invest in anything you cannot afford to lose” warnings from mainstream finance experts and policymakers alike. And now that cryptocurrencies are moving beyond the realm of speculation onto the world stage as an institutionalized means of payment, it’s becoming clear that these digital currencies are facing something even bigger than their wild price swings: ethical scrutiny.
Consider for a moment how these popular digital currencies do not exist unless people agree to use them for trading or investing purposes — which means they’re intrinsically linked to centralized power structures and rich investors. The fact that a handful of people to the tune of billions can actually exert influence over the world economy is a seminal turning point in human history, and while these digital currencies are not themselves a system of centralized power, they have been able to leverage trust in and acceptance of a decentralized power structure.
The popularity of cryptocurrencies has caught the attention of regulatory bodies around the world. The world’s most powerful central banks underlining their support for cryptocurrency trading, for example, is nothing short of stunning. The Swiss National Bank published an official document titled “Crypto-Assets: An Overview,” which advances news that crypto investors could benefit from becoming part of Switzerland’s financial system through “fully-regulated financial intermediaries.
What are the top five reasons to wind down your position in any cryptocurrency?
1. The technology of the blockchain is being used for more than just digital currencies.
2. The amount of real-world applications for blockchain technology is increasing every day. In fact, it’s already being put to work for many different sectors, from banking to property management to government records management and beyond. [This has been happening for a number of years.]
3. Therefore, the cryptocurrency market is saturated with over-supply, with too many assets being created and not enough demand to back them up — speculators are having trouble finding a floor and getting out before it’s too late.
4. Speculation in the cryptocurrency marketplace has gotten out of control.
5. The technology is not yet secure, and investing in cryptocurrency is still risk investors should approach with extreme care and caution.
NEAR price enters into a consolidation
NEAR as asset #94 in the Cryptocurrency Space
NEAR (NEO) is a cryptocurrency currently ranked #94 in terms of overall market cap. NEAR has a total market cap of $8,921,482. The most active trading volume for this coin is on OKEx where it’s traded for $71,516,529 USD. Keep in mind that the overall demand for a certain type of cryptocurrency does not always correlate with the price movement of that coin – sometimes people just aren’t buying or selling it at all! A lack of trading volume can be an important indicator of future price trend direction.
NEAR is still in the early stages of its life cycle, but as it continues to grow and gain more mainstream acceptance, it will become more and more valuable.
About NEO:
NEO (formerly known as Antshares) is a Chinese cryptocurrency that has gained a lot of popularity in the last 6 months or so. It partners with other cryptocurrencies, like Ethereum and Bitcoin, allowing users to make seamless transactions without hassle. NEO founders claim their system will create an efficient economy based on smart contracts with digitized assets that can be exchanged in a decentralized market. The goals are said to be developed through community-driven project management and continuous iteration toward achieving solutions for real-world problems through using blockchain technology.
The cryptocurrency is priced at $41.42 USD (3.75% down in the last 24 hours / -2.84% down in the last 7 days) according to CoinMarketCap. This cryptocurrency has a total market cap of $5,119,486,421 USD and is currently ranked #194 in terms of overall value.