Exchanges are the Strong Hands in Crypto

By | Feb 07, 2019

Exchanges are the Strong Hands in Crypto

There’s no central banking function in cryptos & blockchain. There are, however, exchanges.

Consider: Coinbase did an equity round at $8 billion last year; let’s pretend Binance – the equity slice, not the coin – is worth the same. Feel free to discount that Coinbase valuation since it ties to when cryptos were surging. Let’s say the 2 behemoth exchanges are worth an estimated $10-15 billion combined. That would make them the number 2 coin in the world & give them a hefty overall market share. Now look at the Basic Attention (BAT)-Coinbase giveaway announced yesterday. BAT tokens are being awarded to individuals who perform educational tasks supporting the project. BAT surged 30% on the news. It’s unclear what the economics of the $10 bounty are between BAT & Coinbase but it’s not the point. Binance is in cahoots with TRON & BitTorrent in a similar vein.

There are few strong hands in cryptos at the moment. The exchanges are an exception. Their ceremonial blessings have an ability to impact events. This is not advice; please do your own research. It’s simply a trend to be aware of. Central banks pumped trillions of dollars into the global economy & much of that easy money ended up in equities. Look for other teams to find creative ways to kiss the powerhouse exchange’s rings.

2019-02-12T17:18:55+00:00 February 7th, 2019|

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