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Crypto Soars as Industry Waits for More Changes

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Aug 14, 2021

Almost everybody is aware of the fact that bitcoin leads the crypto world across the globe. All of this is for good reason as bitcoin has been incredibly profitable over the years, helping people make a tremendous amount of money. That being said, other types of crypto are not far behind. Ethereum, in particular, has been soaring for a while. What’s more, some people even think that it has the tendency to go ahead of bitcoin after a while.

Whatever the case, one thing is for certain, and that is crypto, no matter how profitable it is, can be really volatile. Those who are relatively new to the crypto world are often put off by the volatility. One of the main reasons behind it is that low volatility makes people think that they will lose their investments. While that is partially true, having some knowledge about how crypto works and when to trade can help relieve a great deal of heartache.

For now, however, Bitcoin remains to be the undisputed king in the world of international trading. Its recent form, in particular, remains tremendous as more and more people are investing in it. After that, Ether proves to be a close second and as mentioned earlier, it is on its way to give Bitcoin an incredibly tough competition.

According to the London Stock Exchange, which is an incredibly reliable resource, Argo Blockchain experienced massive growth. This crypto mining company had a growth of over three hundred percent, which was around twenty-two million Dollars. Earlier, the firm claimed that it planned to offer lists in the United States as long as regulatory approval is provided.

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Elsewhere, the Standard Chartered bank in Ireland also plans to provide its services for cryptocurrency brokering through a custody service by the name of Zodia. For those who don’t know, this service came to the forefront during December in the form of a joint venture. This joint venture was shared by Northern Trust, which is a wealth management company, and Standard Chartered Bank.

Ray Dalio, who is a billionaire founder of a hedge fund, shared his concerns regarding the government. He believed that the government was planning to make cryptocurrencies outlawed. During an interview conducted with CNBC recently, Dialo claimed that there is a decent chance that crypto becoming outlawed. He further stated that the federal government could be the one responsible for outlawing crypto.

With all that said, things still remain a bit vague regarding the trajectory of crypto. However, it wouldn’t be surprising to see more changes along the way.

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