The cryptocurrency industry has exploded onto the scene of personal finance over the past decade or so. At this point in time, you would find it difficult to meet someone who has never heard of Bitcoin or any other of the major digital assets available for investment. But what causes this industry to tick? What is the latest news that is driving forward momentum for cryptocurrency miners, engineers, and investors?
Let’s take a look at some of the major developments in the world of digital assets in March 2023.
When most people think of cryptocurrencies they often believe it to be a far more unreliable form of monetary investment than something like a typical bank. That is one of the major concerns that prevent many from investing in cryptocurrencies. However, the failure of the Silicon Valley Bank (SVB), and its eventual collapse has led people to reconsider typical investments and how safe they truly are.
One of the biggest positives that exist in cryptocurrency investments is that many coins available on the market, like Dogecoin, Bitcoin, and Ethereum, present far stronger returns on investment than a typical savings account at a bank. The fact that a major bank like SVB has managed to collapse, causing panic among those who have stock in the company, has caused a shift in the way many people view digital asset investments.
For some, it seems that the time of NFTs is now over, with brands like Meta admitting that they are taking a step back from these digital assets. In general, people are just no longer driving NFT investment opportunities as hard as in the previous two or three years. So, was it just a fad after all, or are NFTs coming back stronger than ever? Well, the fact that a dedicated digital asset platform has been launched by Amazon seems to indicate otherwise.
The Amazon Digital Asset Platform has announced that it will be selling 15 unique NFTs over the next few months in order to relaunch a business and investment opportunity that was so profitable for many over the past few years. The fact that one of the largest companies on the planet still believes in the potential of NFT trading only points towards a bright future for the NFT community.
Shiba Inu has been struggling in recent times, and anyone with knowledge of the situation would find it difficult to argue otherwise. TRON, one of Shiba’s main competitors in the cryptocurrency sphere has capitalised on the struggles of Shiba and is driving growth in an effort to take its spot in the industry.
This type of competition between cryptocurrency and digital asset-based companies can only be good for the industry as a whole. Competition of this kind promotes growth and drives companies to expand and offer better services.
All in all, the crypto world seems to be heading to a period of relative stability, which could indicate a great time to invest.