Bitseven.com – Most anticipated events in crypto and blockchain industry
Cryptoindustry is steadily progressing, but not in that crazy pace as before. The blame lies obviously on the unending bear-trend. There are many predictions on when market will finally wake up from the deep slumber, but feels like the same thing is happening already for several months. While nobody knows what might happen in the next moment and if the market will just suddenly make a huge leap whether up or down, we can at least place our bet on what events could definitely (maybe even be the turning point for the cryptospace) affect the market.
Bakkt platform launch
Large financial institutionals entering cryptospace might stimulate the approval of digital assets as global financial standard. NYSE Intercontinental Exchange had announced launch of Bakkt already back in August 2018, but was faced with regulatory limitations. Many major world institutes of different industries – technology, finance and retail trading – have supported this initiative, for example such giants as Microsoft, BCG, Starbucks, etc.
The launch might happen in February 2019, and alongside Bakkt the realization of Bitcoin-futures is planned, which will be the connecting part of cryptomarket to institutionals capital.
There were several problems with the launch resulting in delaying the launch couple of times, however Bakkt continues on improving. In the beginning of 2019 startup had raised another $182 million from 12 big investors for its future expansion, and now continues on taking in more highly qualified specialists.
Upcoming Ethereum Network hardfork
Cryptocommunity waits for when finally this hardfork will take place. The expectations of Constantinople are that it will reorganize the Network in terms of scalability and working speed.
At the end of January 2019 there was a vulnerability found in the code which led to yet another delay of hardfork. Now it was announced that the hardfork will happen around February 25 and will be divided into 2 forks, the planned Constantinople with the mentioned upgrades and Petersburg with the fixes for found vulnerabilities.
All these delays made the cryptomarket more competitive and now Ethereum developers should think up on some new innovative things to recover their advantage over altcoins who are already just behind their backs.
Telegram Open Network and token Gram launch
In the beginning of 2018 there was an announcemet, of popular messenger Telegram launching their own blockchain network. Telegram Open Network (TON) is a decentralized registry of Telegram and its developers claim it will have much better functions compared to Ethereum blockchain. TON Newtork will be able supposedly process 1 million transaction per second.
Earlier Telegram announced issuing their own tokens Gram, which won’t be opened to the general public. And yet, company was able to raise an enormous sum of $1.7 billion during pre-ICO by March 2018. Later in May the company cancelled their plans of public launch for next ICO round.
Finally, at the Global Economic Forum in Davos that was held in January the team of the project confirmed the launch of TON network and token Gram for March 2019. It is reported that the development is at its final stage.
Approval of Bitcoin-ETF proposal by SEC
Approval of Bitcoin-ETF is one of the most discussed events in cryptocommunity. The appearance of institutional products such as exchange trade fund for Bitcoin can become a trigger for a significant capital flow incoming to the market of digital assets.
SEC had declined several attempts propositions of Bitcoin-ETF arguing the market is not ready yet. Emphasizing the fact of lots of scamming activity of the cryptospace, Chair of SEC Jay Clayton explained, that for core trading resources there is a need for developing protective mechanisms that can effectively resist scamming schemes.
Cryptocommunity optimistically looks at discussions of legislative initiatives in the United States, postponed due to the already finished government shutdown. Some of the SEC representatives have expressed their positive opinion for ETF soon approval, and there’s not much time left until the final SEC decision.