NASDAQ is an American stock exchange, often considered the second largest in the world behind its American counterpart, the New York Stock Exchange.
NASDAQ lists over 3000 stocks and has a market capitalisation of around $9 Trillion. With this in mind, you might say that when it comes to matters of finance, what NASDAQ say does come with good authority.
Today, NASDAQ have published an article on their website, titled ‘3 Crypto Coins Set to Bounce Higher’, you can see the full article for yourself, here- https://www.nasdaq.com/article/3-crypto-coins-set-to-bounce-higher-cm963149
Why coins do NASDAQ believe we will see skyrocket?
Stellar, Litecoin and Bitcoin seem to be on NASDAQ’s radar, for god reason too.
According to NASDAQ:
“Stellar has experienced a wave of interest from investors and crypto-enthusiasts alike due to a few influential factors. Most notably, the OKEx exchange in Hong Kong recently listed Stellar under trading pairs in December 2017. After this $1.4 million was exchanged between Stellar and other major cryptocurrencies. Stellar also partnered with tech giant IBM to develop a platform to enable cross-border transfers.”
Interest from investors is what is driving the Stellar programme forward, and thus, as NASDAQ believe, the value of the currency too. Partnerships are the thing that are driving cryptocurrencies into the mainstream and really, Stellar are now at the fore of that.
Moreover, regarding Litecoin, NASDAQ believe that:
“One of the major factors tipped to drive momentum to Litecoin’s value is Blocknet’s announcement that LTC will soon function as a cross-blockchain decentralized app. This is because LTC is now compatible with the Blocknet protocol. Blocknet stated in their blog that ‘Litecoin can be used in cross-blockchain dapps such as a payment processor that will allow payments accepted in Litecoin to be paid for in any other currency or vice-versa. Another potential driving factor for Litecoin is that Abra, a leading cryptocurrency wallet, recently publicized plans to list Litecoin. Abra’s CEO, Bill Barhydt, has stated ‘the mobile app will now support withdrawal and deposit of Litecoin (LTC) and support USD wire transfers in its news update.”
Once again, partnerships and mainstream driven innovation are behind NASDAQs justifications. These are things that realistically, the rest of the crypto-industry can really get behind.
Finally, according to NASDAQ:
“Crypto-enthusiasts expect Bitcoin prices to rise ahead of the 4thannual four-day Consensus Conference in New York. The event will feature around 4,000 crypto, tech and blockchain heavy-weights, including Litecoin creator Charlie Lee. It will also enable new blockchain initiatives to showcase their most innovative products and features.”
This last comment regarding Bitcoin does remain a bit vague, although the sentiment is clear. Hopefully, when the consensus conference draws to a close, investors will hit the markets with a real air of optimism, an optimism that hopefully will see the price of Bitcoin surge.
Obviously, this is not investment advice. Whilst NASDAQ play a huge role in the financial world, even their high-profile predictions must be taken lightly. This is speculation driven and should be approached accordingly.
The overall consensus here is that innovation is going to drive cryptocurrencies forward. By establishing partnerships and working on new technologies, cryptocurrencies become more than just assets and stores of value, they become real commodities with real life potential, this potential is what the currencies need in order to be taken seriously. Once taken seriously, adoption by the mainstream will follow, that’s for certain.