Hong Kong, China -- (ReleaseWire) -- 03/31/2021 --Block chain industry in today has been global government economic organizations and even the bank enterprise and technology enthusiasts, on which the technical architecture technology concept and derive digital currency has also been widely recognized as tradable commodity Although in some level of understanding, no third party supervision and completely independent trading digital currency may never exists in the form of currency, but approved digital currency for the goods itself, has been approved by the value of its connotation
This is the best of times
Block chain industry has experienced three stages, the first stage is from 2008 to 2015, block chain practitioners and technical experts in the chain of blocks technical level continuously explore, continue to the future of digital currency issued a faint sound, between 2015 to 2017 is full of doubt and opposition, abnormal block chain industry booming, industry so golden took everyone by surprise, finally let the market into the cost of 2 years of stagnation, let block chain industry barely survive.From 2019 to now, it has been the best year for the blockchain industry.The industry not only has the experience of facing the heyday market, but also has the vision of looking to the future.
When Bitcoin led the way to above $50,000, major currencies such as BTC, ETH, and BCH all enjoyed decent gains.But take a look away from the currencies in the spotlight and the harsh truth emerges is that the market is completely dominated by major currencies, leaving little room for manoeuvre.
According to data from the ZB Research Institute, the total market value of Bitcoin has now surpassed the Canadian dollar's M1 (narrow measure of money supply).The total market capitalization of Bitcoin is now about $1.1213 trillion, while the total market capitalization of global cryptocurrencies is about $1.59 trillion. Bitcoin's market capitalization has risen to 70.5% from 60.2% previously.Less than 5% of the total market space is reserved for innovative development enterprises, which is about $50 billion in total, and this $50 billion market space needs to be fought for by all the innovative blockchain enterprises in the world, so the living environment can be imagined.
That's one reason why bitcoin, while doing well in this bull market, hasn't led the broader market upward.Among the few projects, Fiecoin's performance can be considered remarkable. Since ZB began to vigorously promote in November 2020, the currency price has been stable and the project reliability has been verified. On March 16, Fiecoin went against the market and showed a rapid rise in its value from nearly $50 to the highest $71.34.
Young plants must have soil before they will grow
One of the accepted rules of cryptocurrencies is that the more people use them and the more recognition they receive, the more valuable they are.And the whole market is even more so, the more institutions and individuals enter the market, the market is bound to enter the bull market, and on the contrary, the market is bound to enter the bear market.
Nowadays, the market is almost completely controlled by the mainstream currency (accounting for more than 95%), the living space of other enterprises is compressed, and the project performance is naturally difficult to satisfy people. If the project outside the mainstream currency keeps attracting people to the market, the market will be difficult to support to a certain height.
The ZB Exchange is committed to nurturing new projects, but turning the market around is not what one ZB Exchange or Filecoin project can do.
Seedlings must have their own soil before they can grow into towering trees, and the whole market also needs to cultivate new projects and enterprises to continue to expand.